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2023-06-30-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 2023

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 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13 to 14
Notes to the Financial Statements 15 to 20
Detailed Statement of Financial Activities 21

Wings of Hope

Reference and Administrative Details for the Year Ended 30 June 2023

TRUSTEES Prof Lord Bhikhu Parekh Ms Dawn Butler, MP (resigned 1.7.23) Dr R Sri Ram PhD FRSA Mrs Rajni Sriram FRSA 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 2023

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 2023. 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 and Sustainable Living

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, countries and our planet.

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. Further it is critical for all of us, and importantly the next generation to care for our planet, understand how to co-exist with nature and protect biodiversity, for the future protection of our planet and people.

"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)

Page 2

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2023

OBJECTIVES AND ACTIVITIES OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT

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

  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).

  4. Working with education partners, parents, guardians, and communities for the next generation of leaders to be responsible for our planet and fellow global citizens.

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, sustainable thinking, leadership, team spirit, resilience, mental wellbeing, organisation, digital excellence and community spirit, through the Wings of Hope Achievement Award programme (WOHAA). To date, approximately 39,500 students have taken part in WOHAA, over 19 years, from over 568 schools in the UK.

WOHAA enables young people to run socially-minded enterprise projects in their local communities - this ranges from fundraising for education projects for less privileged children in the world, as well as core local activities engaging all members of the community - old people, local gardens and parks, less abled people, primary school children, and community sustainability projects.

The WOHAA programme has been carefully designed and improved over 19 years , through t rusted 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 WOHAA model has evolved to support life skills for the most pressing needs of the day - social cohesion, digital empowerment, wellness and mindset training, and sustainability focus.

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 2023

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 2023

ACHIEVEMENT AND PERFORMANCE

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

Skills workshops

WOHAA SKILLS TRACKER

The WOHAA skills tracker which was launched three years ago, continues to provide a qualitative and quantitative basis to measure student progress of skills. 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 20-point scale which are summarised below.

Page 5

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2023

Overall the students self-assessed their skills and noted that after undertaking the WOHAA programme they saw a positive increase in their skills on most or all of the 20-skills tracked.

WOHAA Student Events

From September 2022, 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 and Kings College London. 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 as live events and some still conducted online.

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 2023

TEACHER TESTIMONIALS

----- Start of picture text -----
Name Miss Clare Strong
Role Charitable Champions
School Kind Edward VI Camphill School for Girls
Quotes As part of their WOHAA journey, they have created many wide and varied creative opportunities.
They have shown creativity and resilience especially when facing adversity with their plans. Skills
learnt include : organization, finance, teamwork, leadership, confidence, commitment, techniques for
advertising & publicity. I admire spirit they have shown to make a difference in the world we live in.
Name Chandini Mehta
Role Firebirds
School Henreitta Barnett School
Quotes This team have shown dedication, passion and gone that extra mile to spread the awareness of this
charity at school, among family and friends and community. Individually these students are excellent
- they have managed their time meticulously doing their academic studies and doing incredibly well
in them. It's been a pleasure to be their liaison teacher and it's clear the girls have enjoyed every
minute of their participation in the challenge.
Name Endi Skenderi
Role Present a Present
School Oxford International College
Quotes This team has consistently displayed a meticulous and strategic approach to in organizing their
initiatives , outlining objectives and sharing roles, throughout their projects. Their proactivity and
ingenuity in transferring their benevolent ideas into tangible realities have left an indelible mark on
the OIC's community.
Name James Kane
Role Philanthropists
School Queen Elizabeth's School for Boys
Quotes This team organized a recent star of BBC Television show - Apprentice, to give a talk show to the
boys of the school. The boys demonstrated excellent skills of organization and logistics for the event
- both with stakeholders within the school but also the speaker himself. In addition to developing
their teamworking and organizing skills, they proved themselves to be sharp communications, able to
sell the event to younger students at a relatively higher price point.
Name Mrs. Chris Evans
Role Wings of World
School Royal Masonic School for Girls
Quotes As Year 10 is a very busy year at school, the students have come to appreciate the need for good
time management. They have gained a lot from working together and their communication and
confidence have improved as a result. They have enjoyed experience of looking outside their own
experience in helping those less fortunate than themselves.
----- End of picture text -----

PARENT/ GUARDIAN TESTIMONIALS

Name
Team		 Nirupama Swain
Avengers
School St. Olave's Grammar School
Quotes Abhinav learnt how to stay calm & focus on the job at hand. For example, the evening before
doughnut sale they came to realise that the order was on the wrong day. Instead of panicking he
stayed calm & called all the nearby shops to see if they would buy their doughnuts. They changed the
sell tactics & pricing. In the end, the event was successful.

Page 7

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2023

----- Start of picture text -----
Name Jovesa & Jiu Tawake - ( Makelesi & Veitinia's )
Team Bizzy Bees
School Melkham Oak Community School
Quotes For the first time, to be organising something like Makelesi and Veitinia has done, they were eager to
take up the challenge. We admired how they went out to achieve their objectives. It was good to see
them develop that side of themselves; we liked the brainstorming of ideas during the meetings.
Additionally, as much as their confidence was keen in some places, we did notice that some good
opportunities were missed as they were reserved. Overall, we are proud of their involvement and the
money they raised.
Name Shilpi Baranwal
Team Jarak
School Ilford County High School
Quotes Thank you for your guidance and support in nurturing Krish's talents and providing him with
opportunities to make a difference. The work you do at Wings of Hope Organisation is invaluable in
shaping the lives of young individuals and fostering a sense of community spirit. .
Name Poorna Abeysiri
Team Firebirds
School Henreitta Barnett School
Quotes Rivini has loved being the leader of WOHAA Team Firebirds for the past 9 months. Charity is
really important to her, so the chance to give back to other school children really got her excited, and
she has been working really hard to raise money for this cause. Rivini has been throwing herself into
the challenge ever since she got the team together 2022 summer holidays, and has clearly developed
her communication, teamwork, leadership and organizational skills in the process.
Name Fahar Kiffayathulla
Team Phoenix
School King Edward VI Camphill School for Girls
Quotes I have seen a great improvement in Zakiyyah's efficiency, organisational and time management skills
since she has taken on this project. More importantly she has become more confident in order to
cope with the milestones they had to reach in just few months.
Name Rajashankar Rao
Team Goal Diggers
School King Edward VI Camphill School for Girls
Quotes As an individual Ojal has developed many key skills whilst hosting events like organizational,
creativity, communication and perseverance. One key example of perseverance was that they wanted
to host a cricket match in Cannon Hill but found that the hiring of the park was very expensive. So
she checked few more parks but in the end decided to do a walkthon as a group.
----- End of picture text -----

STUDENT TESTIMONIALS

Student
School		 Delina, Saranya and Naviyashri
4EverFree
Team
Quotes
Student
School		 West Kirby Grammar School
In conclusion I am very happy and delighted that I participated in WOHAA. I have learned new
skills that are beneficial and helpful in the future and improved in many that I was not happy and
confident about.- DelinaThroughout this WOHAA journey I was faced with highs and lows, some of
our events worked out others didn't. Because of this I have learnt new skills like perseverance, quick
thinking and organizational skills all of which are great to have in the working world - Saranya.I am
glad that I participated in WOHAA and improved my communication skills - Naviyashri
James, Adam, Arojan, Robbie and Kris
Jarak
Team Ilford County High School

Page 8

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2023

----- Start of picture text -----
Quotes Through WOHAA, we found that 3 skills were integral. Leadership, Problem solving Organizational.
Through leadership we learnt how to recognize and utilize our own and each others strengths and
weaknesses to produce the best possible output.Through problem solving we understood the
complexities associated with the logistical aspects of the sports tournaments we hosted. Recognizing
the constant improvement that comes from being readily organized is an incredible skill to possess
especially in the workforce.
Student Rivini, Tushita, Ananya, Prisha and Pirathika
School Firebirds
Team The Henreitta Barnett School
Quotes Thank you. This has been a fantastic for us and we had the immense pleasure of giving back to the
global community. This has been an extremely fulfilling year and we have all grown in the process as
individuals. Thank you so much for everything. We hope we will be able to work with you in the
future.
----- End of picture text -----

Team
Quotes		 The Henreitta Barnett School
Thank you. This has been a fantastic for us and we had the immense pleasure of giving back to the
global community. This has been an extremely fulfilling year and we have all grown in the process as
individuals. Thank you so much for everything. We hope we will be able to work with you in the
future.
Student
School		 Makelesi, Saffron,Veitinia and Zuzanna
Bizzy Bees
Team Melksham Oak Community School
Quotes WOHAA will help us our future careers because we need to use so many skills. WOHAA taught us
teamwork skills and the art of good communication and most important of all time management.
WOHAA also taught us how to adapt to different situations that are not planned. It also gives us a
critical mind to look at any situation from all angles and take into account all possibilities.

International projects

SSS Institute of Educare school Chennai, has been very active post covid on a number of fronts.

They have held Seminars in human values, celebrated lots of festivals and conducted a elaborate sports and cultural event day, participated in National Science Day events.

Their students have also achieved high academic success. Highest marks for Year 12 students ranged from 471/500 and 453/500. With high level of marks in English, Sciences and Economics

The evening tuition project centres in Northern Chennai, have seen a slight rise in the uptake of their students and attendance has improved. Special evening tuition classes held for years 10, 11 & 12 were hugely welcomed by the students and parents. We had over 50% girl students who attended in this group and who are hopeful of getting good grades to join a University. Total students who benefitted from these special classes was 65.

Jacaranda School, Malawi

This school has continued to show immense progress in the last 12 months. New pupils have joined the school and the school, continues to host its annual Christmas online entertainment and fundraiser event.

The Trustees of Wings of Hope are working hard to carry on their support for these International Projects.

The Trustees of Wings of Hope are also working to get more UK schools to join and participate in the Wings of Hope Achievement Awards.

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 9

Wings of Hope

Report of the Trustees for the Year Ended 30 June 2023

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 24 April 2024 and signed on its behalf by:

Mrs Rajni Sriram FRSA - Trustee

Page 10

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 2023.

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

Williams Chartered Accountants Jade House 67 Park Royal Road London NW10 7JJ

24 April 2024

Page 11

Wings of Hope

Statement of Financial Activities for the Year Ended 30 June 2023

30.6.23
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
47,761
EXPENDITURE ON
Charitable activities
Charitable activities
107,575
Other
(1,165)
Total
106,410
NET INCOME/(EXPENDITURE)
(58,649)
RECONCILIATION OF FUNDS
Total funds brought forward
(77,593)
TOTAL FUNDS CARRIED FORWARD
(136,242)		 30.6.22
Total
funds
£
24,192
92,969
1,165
94,134
(69,942)
(7,651)
(77,593)

The notes form part of these financial statements

Page 12

Wings of Hope

Balance Sheet 30 June 2023

30.6.23
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
6
321
CURRENT ASSETS
Stocks
7
3,894
Debtors
8
700
Cash at bank
116,915
121,509
CREDITORS
Amounts falling due within one year
9
(240,572)
NET CURRENT ASSETS/(LIABILITIES)
(119,063)
TOTAL ASSETS LESS CURRENT
LIABILITIES
(118,742)
CREDITORS
Amounts falling due after more than one year
10
(17,500)
NET ASSETS/(LIABILITIES)
(136,242)
FUNDS
12
Unrestricted funds
(136,242)
TOTAL FUNDS
(136,242)		 30.6.22
Total
funds
£
428
3,894
207
128,159
132,260
(187,506)
(55,246)
(54,818)
(22,775)
(77,593)
(77,593)
(77,593)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 13

Wings of Hope

Balance Sheet - continued 30 June 2023

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 24 April 2024 and were signed on its behalf by:

Mrs Rajni Sriram FRSA - Trustee

The notes form part of these financial statements

Page 14

Wings of Hope

Notes to the Financial Statements for the Year Ended 30 June 2023

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 15

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. NET INCOME/(EXPENDITURE)

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

30.6.23 30.6.22
£ £
Depreciation - owned assets 107 142

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.

4. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as
follows:		 30.06.23
£
29,783
30.06.23
3		 30.06.22
£
15,000
30.06.22
1
Unrestricted
funds
£
24,192
92,969
1,165
94,134
(69,942)
No employees received emoluments in excess of £60,000 (2022 : None).
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
EXPENDITURE ON
Charitable activities
Charitable activities
Other
Total
NET INCOME/(EXPENDITURE)

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 16

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
funds
£
RECONCILIATION OF FUNDS
Total funds brought forward (7,651)
TOTAL FUNDS CARRIED FORWARD (77,593)
6. TANGIBLE FIXED ASSETS
COST Fixtures
and
fittings
£
At 1 July 2022 and 30 June 2023 7,167
DEPRECIATION
At 1 July 2022 6,739
Charge for year 107
At 30 June 2023 6,846
NET BOOK VALUE
At 30 June 2023 321
At 30 June 2022 428
7. STOCKS
Stocks 30.6.23
£
3,894		 30.6.22
£
3,894
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other Debtors - Paypal/Stripe 30.6.23
£
202		 30.6.22
£
207
PAYE Overpaid 498 -
700 207

continued...

Page 17

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23 30.6.22
£ £
Social security and other taxes - 6,858
Other creditors 2,397 2,412
Other creditors-SCL 236,015 176,016
Accruals and deferred income 2,160 2,220
240,572 187,506
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 11) 30.6.23
£
17,500		 30.6.22
£
22,775
11. LOANS
An analysis of the maturity of loans is given below:
Amounts falling due in more than five years: 30.6.23
£		 30.6.22
£
Repayable by instalments:
Bank loans more 5 yr by instal 17,500 22,775
12. MOVEMENT IN FUNDS
Unrestricted funds At 1.7.22
£		 Net
movement
in funds
£		 At
30.6.23
£
General fund (77,593) (58,649) (136,242)
TOTAL FUNDS (77,593) (58,649) (136,242)
Net movement in funds, included in the above are as follows:
Unrestricted funds Incoming
resources
£		 Resources
expended
£		 Movement
in funds
£
General fund 47,761 (106,410) (58,649)
TOTAL FUNDS 47,761 (106,410) (58,649)

continued...

Page 18

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.7.21 in funds 30.6.22
£ £ £
Unrestricted funds
General fund (7,651) (69,942) (77,593)
TOTAL FUNDS (7,651) (69,942) (77,593)
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds Incoming
resources
£		 Resources
expended
£		 Movement
in funds
£
General fund 24,192 (94,134) (69,942)
TOTAL FUNDS 24,192 (94,134) (69,942)
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds At 1.7.21
£		 Net
movement
in funds
£		 At
30.6.23
£
General fund (7,651) (128,591) (136,242)
TOTAL FUNDS (7,651) (128,591) (136,242)

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

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
71,953
71,953		 Resources
Movement
expended
in funds
£
£
(200,544)
(128,591)
(200,544)
(128,591)

continued...

Page 19

Wings of Hope

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

13. RELATED PARTY DISCLOSURES

The administration charges of £12,000 (2022 - £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.

14. 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 20

Wings of Hope

Detailed Statement of Financial Activities for the Year Ended 30 June 2023

Detailed Statement of Financial Activities
for the Year Ended 30 June 2023
30.6.23 30.6.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 33,912 11,763
WOH Achievement Awards 13,849 12,429
47,761 24,192
Total incoming resources 47,761 24,192
EXPENDITURE
Charitable activities
Wages 29,783 15,000
Social security (1,876) -
Pensions 802 225
Wings of Hope students development programs 57,220 55,097
Depreciation 107 142
Bank loan interest 1,251 -
Grants to schools 5,500 9,250
Other 92,787 79,714
HMRC late payment interest (1,165) 1,165
Support costs
Governance costs
Independent examiner's fees 2,340 1,175
Administration 12,000 12,000
Bank charges 448 80
14,788 13,255
Total resources expended 106,410 94,134
Net expenditure (58,649) (69,942)

This page does not form part of the statutory financial statements

Page 21