Company Registration No. 06040760 (England and Wales) Charity Registration No. 1119653 HOPE (PORTSMOUTH) (A Company limited by guarantee) TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Hope (Portsmouth) Contents of the Financial Ststements For the year ended 31 March 2025 Charity Information Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet ststement of Cash Flows Notes to the Financial Ststements 9-18
Hope (Portsmouth) Charity Information For the year ended 31 March 2025 WORKING NAMES OF CHARrrY: Hope Church TRusfEES: Alastair lones (Chair) Martin Back Lauren Chappell (appointed 13 July 2025) Catherine Gray Janneke Klos (appointed 13 July 2025) James MacPherson Paul Hutchings (resigned 13 July 2025) Emma Brough (resigned 13 July 2025 COMPANY SECREfARY: Lauren Chappell (appointed 13 July 2025) Emma Brough (resigned 13 July 2025) REGISTERED OFFICE: The Kings Church Somers Road Southsea Hampshire P05 4QA REGISTERED NUMBER.. 06040760 (England & Wales) REGISTERED CHARrrY NUMBER: 1119653 INDEPENDENT EXAMINER: Marcus Cridland BA(Hons) FCA Scott Vevers Ltd Chartered Accountants & Registered Auditors 65 East street Bridport Dorset DT6 3LB PRINCIPAL BANKERS: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Hope (Portsmouth) Trustees. Report For the year ended 31 March 2025 The trustees who are also direttors 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 2025. They are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The accounts have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, applicable law and the requirements of Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting 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 advanrnent of the Christian Faith the relief of sickness and financial hardship the advancement of education These are achieved by running a church and foodbank hub, based in the Somerstown area of Portsmouth. The Church continues its unwavering commitment to serve both its congregation and the wider community. Over the past year, the church has focused on our key mission: We exist tr) know, and make known, the restorative love of Jesus. The church has undertaken significant inltiatives that reflett its ongoing mission to transform lives through faith, community, and outreach. The youth and children's ministries grow in number as we continue to reach out to the local community and open our doors to those around us. We continued our vision framework of focusing on Presence, Transformation, and Mission. This vision continues to be the foundation of our ministry and led to initiatives such as rebranding our foodbank to 'Hope Hub,, expanding our support from giving out food parcels to include agency support in our foodbank sessions and having dedicated staff present to meet the needs of those who attend. Community Outreach and Support.. Outreach efforts remain focused on addressing critical needs within Portsmouth, particularly through the Hope Hub which includes Portsmouth Foodbank. We moved to a more sustainable model of operating, no longer tsking self-referrals. The 'Circle of Support, program finished but we continue to provide wider support in our Hope Hub sessions, partnering with local and national agencies to provide financial and mental health support, and including energy suppliers, for example, who can work with those affetted by rising energy costs. Changing to the Hope Hub enables us to broaden the service we provide outside of foodbank- dedicated sessions. We initiated Hope Café, a weekly drop-in for those wanting more connection in a group setting. The group share stories with each other of life struggles and answered prayer and learn MO about the Christian faith. The refreshed Hope Hub has strengthened community connection, boosting engagement with Hope Cafe, kids, attivities, Sunday church, and partnerships across the city, while maintaining a regular voice in the Tackling Poverty Forum. Recent campaigning work has expanded the core ServI-USer group and brought local representatives and residents together to address key community issues. The Foodbank has secured multiple grants, increased its presence at community events, and is preparing to support a new subsidised-travel initiative led by the local council. Additional staff capacity has been arranged to lead ROC Mentoring, and the new Tackling Poverty Coordinator already connected with the community-is considered a welcome and timely appointment.
Hope (Portsmouth) Trustees, Report For the year ended 31 March 2025 Children, Youth, and Family Ministries,. We continue in our commitment to local children, families, and youth by providing multiple opportunities for engagement. Weekly programs have continued to flourish, with a Youth Band and Eden (our Friday night youth group) growing in numbers and impatt. The winter term was highly positive, with our young people re-engaging well in their programmes and engaging thoughtfully with key topics. We also saw a significant increase in young people from the local community-met through Eden beginning to attend Sunday services regularlyi as well as participating in other programs. Youth Alpha launched stronglyi Wlth many Eden participants staying on for sessions. Overdll, our spaces have been well used by young people from across Southsea who are eager to learn more about God and grow in relationship with Him. Looking Ahead: Building on our rebranding of the Hope Hub, the Intention is to rename the church from Kings Church to Hope Church, at the beginning of the next flnancial year. We believe this will provide a holistic approach to all our attivities in the church and in the community, as well as highlighting our focus of bringing hope to our community and our city. We are excited to see the continued growth of the HOPE Hub, further integration of our community 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 attivities shows net outgoing resources of £24,648 (2024 net incoming resources of £147,445). Total reserves at 31 March 2025 stood at £1,025,841 (2024 - £1,050,489), including £651,250 (2024 - £701,445) restritted funds. Re The trustees have established a poliLry whereby the unrestricted funds not committed or invested in tangible fixed assets ('the fe reserves? held by the charity should be I month of the resources 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 £177,327 (2024 - £79,261). Structure, Governan and Management Hope (Portsmouth) is a charitable company limited by guarantee, incorporated 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 activities 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 governed under its Articles of Assoaation. In the event of the company being wound up members are required to contrrbute an amount not exceeding £10. The trustees (members of the church council) who seNed during the year are listed on page l. New members are appointed from the membership of the church by the existing church council. Trustee induttion an New trustee directors are introduced to the operations of the organisation and are given information on the responsibilities of being a trustee and director as well as copies of the charitsble company's Memorandum and Articles of Association. Training is provided to trustee directors when required. Or anisational Structure The trustees delegate the day to day running of the church to a senior leadership team consisting of the lead pastr)r, who acts as chairman and other church leaders.
Hope (Portsmouth) Trustees, Report For the year ended 31 March 2025 ststement of Trustees, Responsibilities Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affair5 of the charity and of the financial attivities of the charity for that period. In preparing those financial statements, the trustees are required to: select suitsble accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent. state whether applicable accounting stsndards have been followed, subjett to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006, They are also responsible for ensuring that the company maintains an adequate system of internal control designed to provide reasonable assurance that assets are safeguarded against loss or unauthorised use and to prevent and detect fraud and other irregularities. Inde endent Examiner Marcus Cridland, of Scott Vevers Ltd has expressed his willingness to continue in office and a proposal ft)r his re-appointment wlll be made at the Annual General Meeting. This report has been prepared in accordan with the small companies regime under the Companies Act 2006. On Behalf of The Board Alastair Jones Trustee/Chair Date:
Hope (Portsmouth) Independent Examiner's Report to the Trustees For the year ended 31 March 2025 I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages 6 to 18. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purpjses of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Att 2006 Cthe 2006 ACY). Having satisfied myself that the accounts of the company are not required to be audlted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under settion 145 of the Charities Act 2011 ('the 2011 Attj. In carrying out my examination I have followed the Directions given by the Charity Commission under settion 145(5) (b) of the 2011 Att. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attentlon in connection with the examination giving me cause to believe that in any material respect: Accounting records were not kept in respect of the company as required by settion 386 of the 2006 Att; or The accounts do not accord with those records. or The accounts do not comply with the accountlng 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 aOrdanCe with the methods and principles of the Statement of Recommended Prattice 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 connectlon wlth 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 (Hons) FCA Scott Vevers Ltd Chartered Accountants & Registered Audltors 65 East Strt Bridport Dorset DT6 3LB Date: ..i.i.l.(Ll.L
Hope (Portsmouth) Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2025 Total Funds 2025 Total Funds 2024 Unrestricted Restricted Funds Funds Note Income Income and endowments from: Donations and legacies Charitable attivities Other trading activities Envestment income Total income Expenditure on: Charitable attivities Totsl expenditure Net income before transfers Transfers Gross transfers between funds Net movements in funds Reconciliation of funds Total funds brought forward Totsl funds carried forward 192,966 1,241 122,431 2,333 318,971 283,865 476,831 1,241 122,431 9,401 609,904 494,426 35,510 119,153 6,674 655,763 7,068 290,933 312,352 312,352 6,619 322,200 322,200 (31,267) 634,552 634,552 (24,648) 508,318 508,318 147,445 18,928 25,547 (18,928) (50,195) (24,648) 147,445 349,044 701,445 1,050,489 1,025,841 903,044 374,591 651,250 1,050,489 All incoming resources and resour5 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 9 to 18 form an integral part of these financial statements.
Company No. 06040760 Hope (Portsmouth) Balance Sheet at 31 March 2025 2025 2024 Note Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 16 1,297,051 1,235,040 17 19,659 370,230 389,889 19,983 471,400 491,383 Creditors: Amounts falling due within one year Net current assets Total assets less current Ilabilitles Creditors: Amount5 falling due after more than one year Net assets 18 (14,103) (26,991) 375,786 1,672,837 464,392 1,699,432 19 (646,996) (648,943) 1,025,841 1,050,489 The funds of the charity: Restricted funds 21 651,250 374,591 701,445 349,044 Unrestrlcted funds 21 Total charity funds 1,025,841 1,050,489 For the financial year ended 31 March 2025, the charity was entitled to exemption from audit under settion 477(1) of the Companies Act 2006. and no notice has been deposited under section 476(1) requesting an audit. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 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 accordance with the requirements of section 394 and which othemise 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 by the Board on i.IL.15 and signed on its behalf by: Alastair Jones Trustee Lauren C Trustee pell The notes on pages 9 to 18 form an integral part of these financial statements.
Hope (Portsmouth) statement of Cash Flows as at 31 March 2025 Note 2025 2024 Net cash flow from operating activities 26 (19,124) 154,706 Cash flow from Investing activitie5 Payments to acquire tangible fixed assets Interest received (91,447) (27,354) Net cash flow from investing activities (82,046) (20,680) Net (decrease) l increase in cash and cash equivalents (101,170) 134,026 Cash and cash equivalents at l April 2024 471,400 337,374 Cash and cash equivalents at 31 March 2025 370 230 471,400 The notes on pages 9 to 18 form an integral part of these financial statements.
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 l General information Hope (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 charity's operations are provided in the Report of the Trustees. 2 Accountlng policles The principal accounting policies adopted, judgements and key sources of estimation uncertainty 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 financial ststements have been prepared on a going concern basis under the historical cost convention and in accordance with Accounting and Reportlng 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), (Charities SORP 2019 (FRS 102)), the Companies Act 2006 and the Charities Act 2011. Accounting convention The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 month5 from authorising these financial ststements. 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 pollcy Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtheran 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 includlng donations and grants that provlde core funding or are of a general nature is recognlsed 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 goods or services 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 this 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 constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals 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 activities 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 include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, Governance 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) Notes to the Financial Statements For the year ended 31 March 2025 2 Accounting policies (continued) Fixed assets Individual fixed assets costing £500 or more are initially recorded at cost. Depreciation Depreciation is provided on tsngible 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 Statement 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 basls over the lease term. Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contrattual provisions of the instrument. Flnancial liabilities and equity instruments are classified according to the SUbStsn of the contractual arrangement entered into. An equity instrument is any contratt 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 transaction price (including transaction costs), except 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 excluding transaction costs), unless the arrangement constitutes a financing transattions. If an arrangement constitutes a financing 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 positlon when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle 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 substsntially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownershlp, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contratt is discharged, cancelled or expires. io
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 Donations and legacies unstrICted Funds 2025 2024 Restricted Funds 2025 2024 Total Funds 2025 2024 Committed giving Gift Aid tax reclaimed Trussell Trust Groundwork HIWCF Portsmouth City Council National Lottery Community Fund Southern Coop Community Fund Other grants 119,667 24,544 104,978 26,421 109,315 16,667 76,402 139,432 16,926 124,594 228,982 41,211 76,402 45,908 7,000 244,410 43,347 124,594 45,908 7,000 3,000 3,000 2,847 73,931 17,000 76,778 17,000 58,500 58,500 1,900 1,900 550 283,865 1,675 363,027 550 476,831 1,675 494,426 192,966 131,399 4 Income from charitable activities Unrestricted Funds 2025 2024 Restricted Funds 2025 2024 Total Funds 2025 2024 Community projects Circle of support Food bank 32,606 855 33,461 32,606 855 33,461 Church runnlng Income from projects and events 1,241 2,049 1,241 2,049 2,049 33,461 1,241 35,510 5 Other trading activities Unrestricted Funds 2025 2024 Restricted Funds 2025 2024 Total Funds 2025 2024 Rental income Renewable Heat InntiVe income 105,496 109,519 105,496 109,519 11,226 9,634 11,226 9,634 other income - expenses recharged 5,709 5,709 122,431 119 153 122,431 119,153 6 Investment income Unrestricted Funds 2025 2024 Restricted Funds 2025 2024 Total Funds 2025 2024 Interest on cash deposits 2,333 2,934 7,068 3,740 9,401 6,674 li
Hope (Portsmouth) Note5 to the Financial Statements For the year ended 31 March 2025 Expenditure on charitable activities Unrestricted Funds 2025 2024 Restricted Funds 2025 2024 Total Funds 2025 2024 Staff costs (Note 13) Direct costs (Note 8) Support costs (Note 9) 132,108 34,224 112,196 28,063 116,386 166,226 96,010 109,927 248,494 200,450 208,206 137,990 107,870 90,236 39,588 53,683 147,458 143,919 Gifts and donations (Note 10) 38,150 18,203 38,150 18,203 312,352 248,698 322,200 259,620 634,552 508,318 8 Direct costs unstrICted Funds 2025 2024 Restricted Funds 2025 2024 Total Funds 2025 2024 Actlvities undertaken directly Funding costs incurred Youth and children 30,104 23,497 158,132 100,462 188,236 123,959 8,094 9,465 8,094 9,465 4,566 137 990 28,063 166,226 109 927 200,450 9 Support costs Unrestricted Funds 2025 2024 Restrlcted Funds 2025 2024 Total Funds 2025 2024 Establishment costs Equipment Office expenses Notor and travel expenses Interest payable Depreciation Governance c Independent examiner's fee 55,334 191 5,159 42,467 1,217 7,189 4,890 838 2,463 4,102 3,428 6,226 60,224 1,029 7,622 46,569 4,645 13,415 474 670 2,737 2,522 3,211 3,192 25,942 18,431 16,971 19,106 17,600 11,005 26,400 11,005 43,542 29,436 43,371 30,111 2,339 2,616 55 2,394 2,616 107 870 147,458 143,919 12
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 10 Gifts and donations 2025 2024 Recipient 24-7 Prayer AOG Asociacion Christiana Mr & Mrs Butler Care for the Family Church Mission Society Compassion UK Faith In Football Family Church Freedom Church Fusion Scripture Union Shake The Nations St Luke & St Peter PCC Stewardshlp Street Pastors Women Without Roofs Other Gifts Activity 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 Overseas and Home Mission Overseas and Home Mission Overseas and Home Mission 800 200 3,000 3,000 6,075 800 6,100 704 1,580 120 10,080 1,400 800 100 1,000 530 772 6,980 309 1,500 480 240 1,400 420 1,200 3,600 360 1,500 11 Trustees, remuneration and expenses The following amounts were paid to Trustees and their close families for ministerial and administrative duties in accordance with the Articles of Association: Salary 2025 Hospitslity & travel 2025 2024 Reimbursed expenses 2025 2024 2024 James MacPherson 14,100 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 expense claim reimbursements of £840 (2024 £1,156) during the year. Other related party transactions are detailed in Note 25. 55 12 Net income Net income is stated after charging.. 2025 2024 Depreciation of tangible fixed assets Independent examiner's fee 29,436 2,394 30,111 2,616 13
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 13 Employees. remuneration The average number of persons employed by the charity (including trustees) during the year was as follows: 2025 No 9.22 2024 No 5.29 Charitable activities The average number of staff employed (Headcount) 15 12 The aggregate payroll costs of these persons were as follows.. 2025 2024 Wages and salaries Social security Pension contributions 238,702 10,231 193,607 11,707 252,680 208,206 No employee received emoluments of more than £60,000 during the year (2024 - None). 14 Defined contribution pension scheme The charity operates a defined contribution pension scheme. The assets of the scheme are administered by trustees in a fund independent from those of the charity. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £3,747 (2024 - £2,892). 15 Taxation As a registered charity, the company is exempt from income and corporation tax as all of its income has been applied for charitsble purposes. 16 Fixed Assets Flxtures, Freehold fittings land and and buildings equipment Motor vehicles Total Cost At l April 2024 Additions As at 31 March 2025 Depreciatlon At l April 2024 Charge for the year As at 31 March 2025 Net book value As at 31 March 2025 As at 31 March 2024 1,407,429 91,447 1498 876 38,969 38,584 1,484,982 91,447 1576 429 184,508 26,218 210 726 37,989 433 38,422 27,445 2,785 30,230 249,942 29,436 279 378 1,288,150 1,222,921 547 980 8,354 11,139 1,297,051 1,235,040 14
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 17 Debtors 2025 2024 Operational debtors Other debtors 4,917 14,742 19,659 5,915 14,068 19,983 18 Creditors: Amounts falling due within one year 2025 2024 Bank loans and overdrafts Taxation and social security Other creditors and accruals Kingdom Bank Ltd Mortgage 7,473 3,116 3,514 18,006 3,400 5,585 26,991 19 Creditors: Amounts falling due after more than one year 2025 2024 other creditors Kingdom Bank Ltd Mortgage 646,996 648,943 Included in creditors are the following amounts due after more than 5 years: 2025 2024 After more than five years by instslments 610,847 565,547 The mortgage is secured on the freehold property owned by the charlty, representlng 730/0 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. 20 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 exceeding £10 towards the assets of the charity in the event of liquidation. 15
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 21 Analysis of funds At31 March 2025 At l April Incoming Resources 2024 resources expended Transfers Unrestricted Funds Designated Funds Renewables fund Covid recovery fund General Funds Unrestricted income fund 221,983 47,800 (72,519) 149,464 47,800 79,261 349,044 318,971 318,971 (312,352) 312 352 91,447 177,327 374 591 Restricted Funds Food bank Hope Circle of Support (You Trust) Refurbishments - Somers Rd Refurbishments - Elm Grove 523,395 19,700 147,712 10,638 701445 290,933 (300,287) (10,908) (9,232) (1,773) 322,200 (18,928) 495,113 8,792 138,480 8,865 651250 290,933 Total Funds 1,050,489 609,904 634,552 1,025 841 At31 March 2024 At l April Incoming Resour5 2023 roUrceS expended fransfe Designated Funds Renewables fund Covid recovery fvnd General Funds Unrestricted income fund 249,336 47,800 (27,353) 221,983 47,800 255 535 255 535 248,698) 248,698) 342 207 Restricted Funds Food bank Hope Circle of Support (You Trust) Refvrbishments - Somers Rd Refvrbishments - Eln7 Gmve 376,203 15,279 156,944 367,622 (220,430) (28 185) [9,232) 523,395 19,700 147,712 10,638 701445 560 837 400 228 259,620 rotsl Funds 903,044 655,763 508 318 1,050,489 The church runs a foodbank which is part of a nationwide neOrk 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 specific church projects during the year both locally and overseas. The refurbishments funds represent specific grants and donations received to fund expenditure which a being matched against depreciation charged. 16
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 22 Net assets by fund Unrestricted Funds 2025 2024 Restricted Funds 2025 2024 Total Funds 2025 2024 Tangible assets Current assets Creditors: Amounts falling due within one year Creditors: Amounts falling due after more than one year Net assets 654,593 381,097 553,295 471,683 642,458 8,792 681,745 19,700 1,297,051 389,889 1,235,040 491,383 (14,103) (26,991) (14,103) (26,991) (646,996) (648,943) (646,996) (648,943) 374,591 349,044 651,250 701,445 1025,841 1,050,489 23 Financial instruments Categorisation of financial instruments 2025 2024 Financial assets that are debt instrument measured at amortlsed cost 378,414 482,255 Financial liabilities measured at amortised cost 661,099 675,934 Items of income, expensei gains or losses The total interest income for financial assets not measured at fair value through profit or loss is £9,401 (2024 - £6,674). 24 Gross obligations under operating leasing agreements At the year end the church had future minimum lease commitments as follows: 2025 2024 Not later than l year Later than l year and not later than 5 years 1,077 1,077 25 Related party transactions Donations totalling £23,486 were made to the charity by 6 trustees during the year. During the year Alastair Jones and Emma Brough, trustees, rented Offi space from the charity for £237 (2024 - £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 £1,589 (2024 - £973) for plumbing work and expenses. 17
Hope (Portsmouth) Notes to the Financial Statements For the year ended 31 March 2025 26 Reconciliation of net income l (expenditure) to net cash flow from operating activities 2025 2024 Net movement for the year Interest retrivable Depreciation and impairment of tangible fixed assets Decrease / (increase) in debtors Increase / (decrease) in creditors Net cash flow from operating activities (24,648) (9,401) 29,436 324 (14,835) (19,124 147,445 (6,674) 30,111 (8,816) (7,360) 154,706 18