REGISTERED COMPANY NUMBER: 05125382 (England and Wales) REGISTERED CHARITY NUMBER: 1106421
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 May 2025
for
Hoop Lane Trust
London Accounting Group Ltd
Hoop Lane Trust
Contents of the Financial Statements for the Year Ended 31 May 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Hoop Lane Trust
Report of the Trustees for the Year Ended 31 May 2025
The trustees who 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 31 May 2025. 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's object and its principal activities continue to be those of the advancement of education, relief of poverty and the advancement of religion.
Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
FINANCIAL REVIEW
Reserves policy
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The presemt level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
There are no significant future developments to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
It is not the intention of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.
Organisational structure
The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration work is done on a voluntary basis by the trustees.
Risk 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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05125382 (England and Wales)
Registered Charity number
1106421
Registered office
5 North End Road London NW11 7RJ
Page 1
Hoop Lane Trust
Report of the Trustees for the Year Ended 31 May 2025
Trustees
A B Stern S R Freshwater (appointed 28.1.25) C M Freshwater (appointed 28.1.25)
Company Secretary
E D Gubbay
Independent Examiner
Samuel Feigenblatt ACCA London Accounting Group Ltd Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ A B Stern - Trustee
Page 2
Independent Examiner's Report to the Trustees of Hoop Lane Trust
Independent examiner's report to the trustees of Hoop Lane Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2025.
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:
-
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 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
-
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.
Samuel Feigenblatt ACCA
London Accounting Group Ltd
Date: .............................................
Page 3
Hoop Lane Trust
Statement of Financial Activities for the Year Ended 31 May 2025
| 31.5.25 | 31.5.24 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Investment income | 2 | 50,000 | 50,000 |
| EXPENDITURE ON | |||
| Other | 147,362 | 104,927 | |
| NET INCOME/(EXPENDITURE) | (97,362) | (54,927) | |
| Other recognised gains/(losses) | |||
| Gains on revaluation of fixed assets | 862,342 | - | |
| Net movement in funds | 764,980 | (54,927) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 55,070 | 109,997 | |
| TOTAL FUNDS CARRIED FORWARD | 820,050 | 55,070 |
The notes form part of these financial statements
Page 4
Hoop Lane Trust
Balance Sheet 31 May 2025
| 31.5.25 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 3,758,000 CURRENT ASSETS Debtors 6 249,790 Cash at bank 46 249,836 CREDITORS Amounts falling due within one year 7 (3,187,786 ) NET CURRENT ASSETS (2,937,950 ) TOTAL ASSETS LESS CURRENT LIABILITIES 820,050 NET ASSETS/(LIABILITIES) 820,050 FUNDS 9 Unrestricted funds 820,050 TOTAL FUNDS 820,050 |
31.5.24 Total funds £ 2,895,658 205,788 4 205,792 (3,046,380 ) (2,840,588 ) 55,070 55,070 55,070 55,070 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 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 charitable company.
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 ............................................. and were signed on its behalf by:
............................................. A B Stern - Trustee
The notes form part of these financial statements
Page 5
Hoop Lane Trust Notes to the Financial Statements for the Year Ended 31 May 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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, as modified by the revaluation of certain assets.
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.
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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.5.25 | 31.5.24 | |
| £ | £ | |
| Rents received | 50,000 | 50,000 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2025 nor for the year ended 31 May 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2025 nor for the year ended 31 May 2024.
Page 6
continued...
Hoop Lane Trust
Notes to the Financial Statements - continued for the Year Ended 31 May 2025
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Other NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. TANGIBLE FIXED ASSETS COST OR VALUATION At 1 June 2024 Revaluations At 31 May 2025 NET BOOK VALUE At 31 May 2025 At 31 May 2024 Cost or valuation at 31 May 2025 is represented by: Valuation in 2025 Cost |
Freehold property £ 2,887,658 862,342 3,750,000 3,750,000 2,887,658 Freehold property £ 862,342 2,887,658 3,750,000 |
Fixtures and fittings £ 8,000 - 8,000 8,000 8,000 Fixtures and fittings £ - 8,000 8,000 |
Unrestricted fund £ 50,000 104,927 (54,927) 109,997 55,070 Totals £ 2,895,658 862,342 3,758,000 3,758,000 2,895,658 Totals £ 862,342 2,895,658 3,758,000 |
|---|---|---|---|
continued...
Page 7
Hoop Lane Trust
Notes to the Financial Statements - continued for the Year Ended 31 May 2025
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 8) Other creditors Loans 8. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 9. MOVEMENT IN FUNDS At 1/6/24 £ Unrestricted funds General fund 55,070 TOTAL FUNDS 55,070 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 50,000 (147,362) TOTAL FUNDS 50,000 (147,362) |
31.5.25 £ 249,790 31.5.25 £ 1,410,000 25,476 1,752,310 3,187,786 31.5.25 £ 1,410,000 Net movement in funds £ 764,980 764,980 Gains and losses £ 862,342 862,342 |
31.5.24 £ 205,788 31.5.24 £ 1,410,000 25,476 1,610,904 |
31.5.24 £ 205,788 |
|---|---|---|---|
| 3,046,380 | |||
| 31.5.24 £ 1,410,000 |
|||
| At 31/5/25 £ 820,050 820,050 Movement in funds £ 764,980 764,980 |
|||
| 764,980 |
continued...
Page 8
Hoop Lane Trust
Notes to the Financial Statements - continued for the Year Ended 31 May 2025
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | ||
| At 1/6/23 | in funds | At 31/5/24 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 109,997 |
(54,927) | 55,070 |
| TOTAL FUNDS 109,997 |
(54,927) | 55,070 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 50,000 |
(104,927) | (54,927) |
| TOTAL FUNDS 50,000 |
(104,927) | (54,927) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | |||
| At 1/6/23 | in funds | At 31/5/25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 109,997 | 710,053 | 820,050 |
| TOTAL FUNDS | 109,997 | 710,053 | 820,050 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 100,000 | (252,289) | 862,342 | 710,053 |
| TOTAL FUNDS | 100,000 | (252,289) | 862,342 | 710,053 |
continued...
Page 9
Hoop Lane Trust
Notes to the Financial Statements - continued for the Year Ended 31 May 2025
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2025.
Page 10
Hoop Lane Trust
Detailed Statement of Financial Activities for the Year Ended 31 May 2025
| INCOME AND ENDOWMENTS Investment income Rents received Total incoming resources EXPENDITURE Other Bank charges Bank loan interest Total resources expended Net expenditure |
31.5.25 £ 50,000 50,000 4 147,358 147,362 147,362 (97,362) |
31.5.24 £ 50,000 50,000 3 104,924 104,927 104,927 (54,927) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11