Company Registration No. 06040760 (England and Wales)
Charity Registration No. l 119653
HOPE (PORTSMoufH)
known as
The Kings Church Portsmouth
(A Company limited by guarantee)
TRUSTEES. REPORT AND UNAUDrrED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Contents of the Financial Statements
For the year ended 31 March 2024
tharity Information
Trustees, Report
Independent Examiner's Rewrt
ststement of Financial Activities
Balan￿ Sheet
Notes to the Financial Statements
8-16

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Charity Infomiation
For the year ended 31 March 2024
WORKING NAMES OF CHARrrY:
The Kings Church
TRusfEES:
Catherine Gray
Paul Hutchings
Emma Brough
Martin Back
Alastair Jones (appolnted 24 January 2024)
James MacPherson
COMPANY SECRETARY:
Emma Brough
REGIsfERED OFFICE:
The Kings Church
Somers Road
Southsea
Hampshlre
P05 4QA
REGIsfERED NUMBER:
06040760 (England & Wales)
REGIsfERED CHARITY NUMBER:
1119653
INDEPENDENf EXAMINER:
Marcus Cridland BA(Hons) FC4
Scott Vevers Ltd
Chartered Accountants & Registered Auditors
65 East street
Bridport
Dorset
DT6 3LB
PRINCIPAL BANKERS:
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hlll
West Malling
Kent
ME19 4JQ

Hope (Portsmouth)
known as
The Klngs Church Portsmouth
Trustees, Report
For the year ended 31 March 2024
The trustees who are a150 directors of the charity for the purposes of the Companies Att present their report
together with the financial statements of the charity for the year ended 31 March 2024. They are also
prepared to meet the requirements for a directo￿, report and accounts for Companies Act purposes.
The accounts have been prepared in accordan￿ with the accounting policies set out in the notes to the
accounts and comply with the charlty's governing document, appllcable law and the requlrements of
Accounting and Reporting by Charities: Statement of Recommended Practi￿ applicable to charities preparlng
their accounts in accordan￿ with the Financial Repjrting Standard applicable in the UK and Republic of
Ireland (FRS 102).
Objectives and Activities and achievements for Public Benefit
The Church adopted the model Memorandum and Articles of Association for local Assemblies of God
churches. Its objectives are:
the advan￿ment of the Christian Faith
the relief of sickness and financial hardshlp
the advan￿ment of education
These are achieved by running a church, based In the Somerstown area of Portsmouth.
The Kings Church continues its unwavering commltment to serve both its congregation and the wider
community. Over the past year, the churth has not only maintained its regular activities-such as Sunday
servi￿, Life Groups, and prayer weeks - but has also undertaken signifiGint initiatives that reflect its
ongoing mission to transforTn lives through faith, community, and outreach.
As part of our ongoing strategy for growth and mlsslon, we IntrodU￿d a Mslon framework focuslng on
Presen￿, Transformation, and Mission. This vision has been the foundation of our ministry, particular
through initiatives such as relaunching Alpha and the "Resilient Faith" series, which Is equipping us for
mission. Additionally, significant structural changes have supported us this year, induding leadership
transitions and a focus on staff development, such as the hiring of new roles like an Executive Assistant and
a HOPE Administrator.
Community Outreach and Support:
Outreach efforts remain focused on addressing critical needs within Portsmouth, particularly through the
Portsmouth Foodbank. This year, we have seen continued growth in demand for food parcels due to the
rising cost-of4iving crisis, distributing 18,200 parcels-an increase from the previous year. The 'Cirde of
Support, initiative has now integrated into an emerging broader 'HOPE Hub., and continues to support
individuals in crisis with a holistic approach, working alongside organizations such as Citizens Advitr to
provide finanoal advice and mental health support.
This year, we secured additional fijnding from the Trussell Trust, alongside grdnts from the National Lottery s
Community Organizations Cost of ￿VIng Fund, which has enabled fijrther developing a HOPE Hub model
with Foodbank; to be a key community resour￿, focusing not just on food distribution, but also providing
life skllls tralning, mentoring, and spiritual growth opportunities.
Our ROC {Redeeming Our Communitie5) mentoring program continues to thrive, with all mentors actively
supporting their mentees in areas ranging from health and wellbeing to financial stsbility and spiritual
growth. This has been complemented by the integration of ROC mentoring into our Fwdbank *ssions,
providing more focused sUPPOrt for th)se in need.
Children, Youth, and Family Mlnistrles:
Our commitment to local children and youth remains a priority. Weekly program5 have continued to flourish,
with a Youth Band and Eden (our Friday night youth group) growing in numbers and Impact. The
restructured youth program provide5 a holistic discipleship joumey, and our young people are Increasingly
stepping into leadership roles, particularly in worship and seryice.

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Trustees. Report
For the year ended 31 March 2024
Groundbreakers and Kings Kids programs have also continued to grow, along wlth an Increase in
participation at Tiny Treasure, where local chlldren and their families are finding a wpJcoming and faith-filled
spa￿.
Loo￿ng Ahead:
Our focu5 remains on deepening our impact through dlscipleshlp, outreach, and leadership development.
We are excited to see the continued growth of the HOPE Hub, fijrther integration of our cornmunity
ministries, new opportunities to serve our congregation and city, as we seek to see lives transformed by the
love of Jesus.
Financial Review
The statement of financial activities shows net incoming resources of £147,445 (2023 £45,660).
Total resetves at 31 March 2024 sti￿d at £1,050,489 (2023 - £903,044), including £701,445 (2023
- £560,837) restritted funds.
ReseNes
The trustees have estsbllshed a policy whereby the unrestricted funds not committed or invested in
tangible fixed assets Cthe free reserves) held by the charity should be I month of the reSoUr￿S
expended, which equates to approximately £25,000 in general funds. At this level, the trustees feel
that they would be able to continue the current activities of the charity in the event of a significant
drop in funding. The current level of free reserves is £79,261 (2023 - £45,071).
Structure, Governan￿ and Management
Kings Church Portsmouth is a tharitable company limited by guarantee, incorpjrated on 3rd January
2007 and registered as a charity on 14th June 2007. The organisation was formerly a charitable trust
by the same name and the company took responsibility of its activib'es on 1st April 2008. The
company was established under a Memorandum of Association which established the objects and
powers of the charitable company and is govemed under its Articles of Association. In the event of
the company being wound up members are requlred to contribute an amount not exceeding £10.
Trustees
The trustees (members of the church counal) who served durlng the year are listed on page l. New
members are appointed from the membership of the church by the existing churth counal.
Tru
ee induction and trainin
New trustee directors are introduced trj the operations of the organlsation and are given information
on the responsibilities of being a trustee and director as well as copies of the charitable company's
Memorandum and Articles of Assoaation. Training is provided to trustee directors when required.
ure
The trustees delegate the day to day running of the church to a senior leadership team consisting
of the lead pastor, who acts as chalrman and other church leaders.
ststement of Trustees, Responsibilities
Company law requires the trustees to prepare finanaal 5tstements for each financial year which give
a true and fair view of the state of affairs of the charity and of the financial actiwtie5 of the charity
for that period. In preparing those financial statements, the trustees are required to:

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Trustees. Report
For the year ended 31 March 2024
select suitable accounting pollcaes and then apply them conslstently;
observe the methods and princlples In the Charities SORP.
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting stsndards have been followed, subject to any
material departures dlsclosed and explalned in the financlal statements; and
prepare the financial ststements on the going cOn￿M basis unless it is
inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping proper accounting records which disdose with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that the
flnancial statements comply with the Companies Act 2006. They are also responsible for ensuring
that the company maintsins an adequate system of internal control designed to provide reasonable
assurance that assets are safeguarded against loss or unauthorised U￿ and to prevent and detect
fraud and other irregularities.
Inde
endent Examiner
Marcus Cridland, of Scott Vevers Ltd has expressed hls wllllngness to continue In Offl￿ and a prokX)sal
for his re-appointment will be made at the Annual General Meeting.
This re[￿rt has been prepared in accordan￿ with the small companies regime under the Companies
Act 2006.
On Behalf of The Board
Paul Hutchings
Trustee
Date:

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Independent Examiner's Report to the Trustees of Hope (Portsmouth)
For the year ended 31 March 2024
I report on the accounts of the company for the year ended 31 March 2024, which are set out on
pages 6 to 16.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you
are responsible for the preparation of the accounts In accordan￿ with the requirements of the
Companies Act 2006 Cthe 2006 Act?.
Havlng satlsfied myself that the accounts of the company are not required to be audited under Part
16 of the 2006 Att and are eligible for independent examination, I report in respect of my
examination of your company's accounts as carried out under section 145 of the Charities Aci 2011
('the 20 11 ACV). In carrying out my examination I have followed the Directions given by the Charity
Commission under settion 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 that in any material respeci:
Accounting records were not kept In respett of the compary as required by section 386 of
the 2006 Act; or
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
Att 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 accordan￿ with the methods and principles of the
statement of Recommended Practice for accounting and reporting by charities [appllcable
to charities preparing their accounts in accordan￿ with the Finanaal Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)].
I have no COn￿rnS and have come across no other matter5 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.
Marcus Cridland BA (Hors) FCA
Scott Vevers Ltd
Chartered Accountants & Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB
Date:
2s..Iii.l+.

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Statement of Financial Activities (including Income and Expenditure Account)
For the year ended 31 March 2024
Total
Funds
2024
Total
Funds
2023
Unrestricted Restricted
Funds
Funds
Note
Income
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income before transfers
Transfers
Gross transfers between funds
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
131,399
2,049
119,153
2,934
255,535
363,027
33,461
494,426
35,510
119,153
6,674
655,763
360,165
29,843
92,586
1,175
483,769
3,740
400,228
248,698
248,698
6,837
259,620
259,620
140,608
508,318
508,318
147,445
438,109
438,109
45,660
6,837
140,608
147,445
45,660
342,207
560,837
903,044
857,384
349,044
701,445
1,050,489
903,044
All incoming resources and resour￿5 expended derive from continuing activities.
The church has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 16 form an integral part of these financial statements.

Company No. 06040760
Hope (Portsmouth)
known as
The Kings Church Portsmouth
Balance Sheet at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
15
1,235,040
1,237,797
16
19,983
471,400
491,383
11,167
337,374
348,541
Creditors: Amounts falling due within one
year
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more
than one year
Net assets
17
(26,991)
(22,022)
464,392
1,699,432
326,519
1,564,316
18
(648,943)
(661,272)
1,050,489
903,044
The funds of the charity:
Restricted funds
20
701,445
349,044
560,837
Unrestricted funds
20
342,207
Total charity funds
1,050,489
903,044
For the financial year ended 31 March 2024, the charity was entitled to exemption from audit under *ction
477(1) of the Companies Act 2006; and no notice has been deposited under sertion 476(1) requesting an
audit. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records
which comply with settion 386 of the Act and preparing accounts which give a true and fair view of the state
of affairs of the charity as at the end of the year and of its income and expenditure for the financial year in
accordan￿ with the requirements of section 394 and which otherwise comply with the Companies Act 2006,
so far as applicable to the charity.
The financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime under the Companies Act 2006.
Approved b the Board on ...
and signed on its behalf by:
Paul Hutchings
Trustee
Emma Broug
Trustee
The notes on pages 8 to 16 form an integral part of these financial statements.

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Statements
For the year ended 31 March 2024
l General information
HoFe (Portsmouth) is a company, limited by guarantee, incorporated in England and Wales under the
Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in Reference
and Administrative Details. Details of the charlty s operatlons are provided in the Report of the Trustee5.
2 Accounting policies
The prinapal accounting policies adopted, judgements and key sources of estimation Un￿rtaInty in the
preparation of the financial statements are as follows:
Basis of preparation
The charity constitutes a public benefit entity as defined by FRS 102. The finanaal statements have been
p￿pared on a going concern basis under the historical cost convention and in accordance with Accounting
and ReFrf)rting by Charities: Ststement of Recommended Prattice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102), (Charities SORP 2019 (FRS 102)), the Companies Att 2006 and the Charities Att 2011.
Accounting convention
The finanaal statements have been prepared on a going concern basi5 as the trustees believe that no
material un￿rtaIntieS exist. The trustees have considered the level of funds held and the expected level of
income and expenditure for 12 months from authorising these financial statements. The budgeted income
and expenditure is sufficient with the level of reseNes for the charity to be able to continue as a going
concern.
Fund accounting policy
Unrestritted income funds are general fijnds that are available for use at the trustees, discretion in
furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is
restricted to that area or purpose.
Income
Voluntary income including donations and grants that provide core funding or are of a general nature is
recognised where there is entitlement, certainty of receipt and the amount can be quantified with
reasonable accuracy.
Income from tax reclaims are included in the Statement of financial activities at the same time as the gift
to which they relate.
Income derived from events is recognised as earned (that Is, as the related gofyjs or servi￿$ are
provided).
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or services
are provided) under contract or where entitlement to grant funding is subject to specific performance
conditions. Grant income included in thls category provides funding to support programme activities and is
recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient
reliability.
Expenditure
Liabilities are recognised as soon as there is a legal or constnjctive obligation committing the charity to the
expenditure. All expenditure is accounted for on an accwals basis and has been classified under headings
that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its attivities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and
those costs of an indirect nature necessary to support them.
Support costs indude central functions and have been allocated to activity cost categories on a basis
consistent with the use of reSoUr￿s.
G0veMan￿ costs include costs of the preparation and examination of the statutory accounts, the costs of
trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Statements
For the year ended 31 March 2024
2 Accounting policies (continued)
Fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows:
Furniture and equipment
20 % straight line basis
Building Improvements
over 25 years
Pensions
The charity operates a defined contribution pension scheme. Contributions are charged to the Ststement of
Financial Activities as they become payable in accordan￿ with the rules of the scheme.
Operating leases
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis
over the lease term.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual
provisions of the instrument.
Financial liabilities and equity instruments are classified according to the Substan￿ of the contractual
arrangement entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at tftnsaction pri￿ (including transaction costs),
ex￿pt for those financial assets classified as at fair value through profit or loss, which are initially
measured at fair value (which is normally the transaction price exduding transaction costs), unless the
arrangement constitutes a financing transactions. If an arrangement constitutes a finanang transaction,
the financial asset or financial liability is measured at the present value of the future payments discounted
at a market rate of interest for similar debt instruments.
Financial assets and liabilities are only offset in the statement of financial position when, and only when
there exists a legally enforceable right to set off the recognised amounts and the charity intends either to
ttle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the
financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks
and reward5 of ownership of the financial asset, or c) the charity, despite having retained some, but not
all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Statements
For the year ended 31 March 2024
3 Donations and legacio
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Committed giving
Gift Aid tax reclaimed
Trussell Trust
B&Q
HIWCF
Julia & Hans Rausing
Trust
104,978
26,421
32,301
19,226
139,432
16,926
124,594
219,020
20,177
27,244
5,000
244,410
43,347
124,594
251,321
39,403
27,244
5,000
3,000
3,000
5,400
5,400
Portsmouth City
Council
National Lottery
Communty Fund
Southern Coop
Communty Fund
Other grants
17,000
27,000
17,000
27,000
58,500
58,500
1,900
1,900
2,297
53,824
1,675
363 027
2,500
306,341
1,675
494,426
4,797
360,165
131,399
4 Income from charitable activities
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Community projects
rcle of support
Food bank
32,606
855
33,461
27,500
1,800
29,300
32,606
855
33,461
27,500
1,800
29,300
Church running
Income from projects
and events
2,049
543
543
2,049
2,049
543
33,461
29,300
29,843
5 Other trading activities
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Rental income
Renewable Heat
Incentive income
109,519
83,108
109,519
83,108
9,634
9,478
9,634
9,478
119,153
92,586
119,153
92,586
6 Investment income
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Interest on cash
deFX)sits
2,934
902
3,740
273
6,674
1,175
io

Hope (Portsmouth)
known as
The Kings Church PortsTnouth
Notes to the Financial Statements
For the year ended 31 March 2024
7 Expenditure on charitable activities
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Staff costs (Note 13)
Direct costs (Note 8)
Support costs (Note
9)
112,196
28,063
95,478
21,329
96,010
109,927
88,509
80,291
208,206
137,990
183,987
101,620
90,236
90,305
53,683
48,421
143,919
138,726
Gifts and donations
(Note 10)
18,203
13,776
18,203
13,776
248,698
220,888
259,620
217,221
508,318
438, 109
8 Dirert costs
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Activities undertaken
directly
Funding costs incurred
Youth and children
23,497
16,252
100,462
70,820
123,959
87,072
9,465
9,471
9,465
9,471
5,077
101,620
21,329
109,927
80,291
137 990
9 Support costs
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Estsblishment costs
Equipment
Office expenses
Motor and travel
expenses
Interest payable
Depreciation
Govemance costs
Independent
examiners fees
42,467
1,217
7,189
47,949
749
7,655
4,102
3,428
6,226
5,024
1,937
1,670
46,569
4,645
13,415
52,973
2,686
9,325
670
270
2,522
2,385
3,192
2,655
16,971
19,106
11,544
20,3+1
26,400
11,005
26,400
11,005
43,371
30,111
37,944
31,349
2,616
1,794
2,616
1,794
90,236
90,305
143,919
138 726
li

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Statements
For the year ended 31 March 2024
10 Gifts and donations
2024
2023
Recipient
Activity
AOG
Asociacion Christiana
Mr & Mrs Butler
Church Mission Society
EPIC 192
Faith In Football
Family Church
Freedom Church
Fusion
Oasis of Hope Poland
Shake The Nations
stewardship - P & A Frizelle
street Pastors
Women Without Roofs
Other Gifts
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
Overseas and Home Mission
200
3,000
3,000
1,500
2,560
400
2,300
1,325
600
480
120
480
240
1,400
420
770
400
1,200
1,625
360
1,325
311
1,200
3,600
360
1,500
1,303
18,203
11 Trustees, remuneration and expenses
The following amounts were paid tt) Trustees and their close families for ministerial and administrative
duties in accordan￿ with the Articles of Association:
Hospitality
& travel
£0
Salary
£11,123
No trustee or person related or connected to them received any remuneration in respect of their services
as a trustee from the charity during the year. One trustee received expenses of £1,156 during the year.
Other related paty transattions are detailed in Note 24.
James MacPherson
12 Net income
Net income is stated after charging:
2024
2023
Depreciation of tangible fixed a￿ets
Independent examiner's fees
30,111
2,616
31,349
12

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Ststements
For the year ended 31 March 2024
13 Employees. remuneration
The average number of persons employed by the charity (including trustees) during the year was as
follows:
2024
No
5.29
2023
No
5.29
Charitable activities
The average number of staff employed (Headcount)
12
li
The aggregate payroll costs of these persons were as follows:
2024
2023
Wages and salaries
Social security
Pension contributions
193,607
11,707
2,892
208,206
173,069
7,186
3,732
183,987
No employee received emoluments of more than £60,000 during the year (2023 - None).
14 Taxation
As a registered charity, the company is exempt from income and corporation tax as all of its income has
been applied for charitable purposes.
15 Fixed Assets
Fixtures,
Freehold
fittings
land and
and
buildings equipment
Motor
vehicles
Total
Cost
At l April 2023
Additions
As at 31 March 2024
Depreciation
At l April 2023
Charge for the year
As at 31 March 2024
Net book value
As at 31 March 2024
As at 31 March 2023
1,380,075
38,969
38,584
1,457,628
27,354
1,484,982
1407,429
38,969
158,5H
25,964
184,508
37,556
433
37,989
23,731
3,714
219,831
30,111
249,942
1,222,921
1,221,531
980
1,413
11,139
14,853
1,235,040
1,237,797
16 Debtors
2024
2023
Operational debtors
Other debtors
5,915
14,068
19,983
11,167
13

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Statements
For the year ended 31 March 2024
17 Creditors: Amounts falling due within one year
2024
2023
Bank loans and overdrafts
Taxation and social security
Other creditors
Kingdom Bank Ltd Mortgage
18,006
3,400
5,585
26,991
17,234
2,135
2,653
22,022
18 Creditors: Amounts falling due after more than one year
2024
2023
Other creditors
Kingdom Bank Ltd Mortgage
648,943
661272
Included in creditors are the following amounts due after more than 5 years:
2024
2023
After more than five years by instalments
565 547
582,802
The mortgage is secured on the freehold property owned by the charity, representing 73% of net book
value. The advance is repayable over 30 years from 2019 and interest is being charged at 3.5 % above
bank base rate.
19 Members. liability
The charity is a private company limited by guarantee and consequently does not have share capital. Each
of the members is liable to contribute an amount not ex￿edIng £10 towards the assets of the charity in
the event of liquidation.
20 Analysis of funds
At31
March
2024
At l April Incoming Resources
2023
resources
expended Transfers
Unrestricted Funds
Designated Funds
Renewables fund
Covid recovery fund
General Funds
Unrestricted income fvnd
249,336
47,800
(27,353)
221,983
47,800
45,071
342,207
255,535
255,535
(248,698)
248,698
27,353
79,261
349,044
Restricted Funds
Food bank
You Tnjst
Refurbishments - Somers Rd
Refurbishments - Elm Grove
376,203
15,279
156,944
12,411
560,837
367,622
32,606
(220,430)
(28,185)
(9,232)
(1,773)
259,620
523,395
19,700
147,712
10,638
701,H5
400 228
Total Funds
903,044
655,763
508,318
1,050,489
14

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Statements
For the year ended 31 March 2024
20 Analysis of funds (continued)
At31
March
2023
At l Apnl Incoming Resources
2022 resources expended Transfers
DesignatedFunds
Renewables fijnd
Covid recovery fund
General Funds
Unrestricted income fvnd
279,384
74,300
(30,048)
(26,500)
249,336
47,800
49,906
403,590
147,855
147,855
(220,888)
[220,888)
45,071
542 207
11,650
RestnctedFunds
Foodbank
You Tnist
Refurbishments - Somers Rd
Refurbishments - Elm Grove
257,289
308,414
27,500
(177,850)
(28 366)
(9,232)
(11,650)
376203
166 176
14,184
12,411
560 837
335 914
217,221
Total Funds
857,384
483,769
438,109
903,044
The church runs a foodbank which is part of a nationwide network of foodbanks, in partnership with The
Trussell Trust. It provides three days, nutritionally balanced emergency food and support to local people in
crisis who are referred by agencies and other organisations.
Monies are given for various speafic church projects during the year both locally and overseas.
The refurbishments funds represent specific grants and donations re￿iVed to fund expenditure which are
being matched against depreciation charged.
21 Net assets by fund
Unrestricted Funds
2024
2023
Restricted Funds
2024
2023
Total Funds
2024
2023
Tangible assets
Current assets
Creditors: Amounts
falling due within one
year
Creditors: Amounts
falling due after more
than one year
Net assets
553,295
471,683
692,239
333,262
681,745
19,700
545,558
15,279
1,235,040
491,383
1,237,797
348,541
(26,991)
(22,022)
(26,991)
(22,022)
(648,943) (661,272)
(648,943) (661,272)
349,OH
342,207
701,445
560,837
1,050,489
903,044
15

Hope (Portsmouth)
known as
The Kings Church Portsmouth
Notes to the Financial Statements
For the year ended 31 March 2024
22 Financial instruments
Categorisation of financial instruments
2024
2023
Financial assets that are debt instrument measured at amortised cost
482,255
339,601
Financial liabilities measured at amortised cost
675,934
683,294
Items of income, expensei gains or losses
The total interest income for financial assets not measured at fair value through profit or loss is £6,674
(2023 - £1,175).
23 Gross obligations under operating leasing agreements
At the year end the church had future minimum lease commitments as follows:
2024
2023
Not later than l year
Later than l year and not later than 5 years
1,077
2,155
1,077
1,077
24 Related party transactions
t)onations totalling £24,799 were made to the charity by 6 trustees during the year.
During the year Alastair Jones (trustee) rented office space from the charity for £214. These transactions
were at open market value.
James MacPherson's (trustee) wife Abigail MacPherson was employed during the year and her salary is
included in Note 13. James MacPherson abstained from any decisions related to her employment.
During the year, Chris Brough (husband of trustee Emma Brough) was paid £973 (2023 - £4,160) for
plumbing work and expenses.
16