**Charity Registration No. 1120555**
**Company Registration No. 6056965 (England and Wales)**
## **THE PEACE & HOPE TRUST**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **THE PEACE & HOPE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr J Allan|
|---|---|
||Mrs J Cole|
||Mrs A Cruz Roque|
||Rev'd N Bennett|
||Mr A Crawford|
||Mr S Ind|
||Mr William Hanks (Chair from|
||20/12/2020)|
||Ms L Swanwick|
||Ms R Gibbins|
|**Charity number**|1120555|
|**Company number**|6056965|
|**Registered office**|Little Llanafon Farm|
||Dorstone|
||Hereford|
||Herefordshire|
||HR3 6AT|
|**Independent examiner**|Frances Wilde FCCA DChA|
||Warner Wilde|
||Chartered Certified Accountants|
||4 Marigold Drive|
||Bisley|
||Surrey|
||GU24 9SF|
|**Bankers**|Co-operative Bank Plc|
||P.O. Box 250|
||Dell House|
||Southway|
||Skelmersdale|
||WN8 6WT|
|**Solicitors**|Orme & Slade|
||NatWest Bank Chambers|
||The Homend|
||Ledbury|
||Herefordshire|
||HR8 1AB|
## **THE PEACE & HOPE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 15|
## **THE PEACE & HOPE TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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**
The objects of the Peace and Hope Trust are the relief of poverty and sickness, the advancement of education and to further such charitable objects as the trustees in their absolute discretion think fit anywhere in the world, particularly in developing countries including Nicaragua. In practice this manifests as a focus on education and health.
The trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the charity should undertake.
The Trust was established with objects that are for the public benefit. The trustees recognise their responsibility for the continued monitoring of the public benefit of the Charity’s activities and for the safeguarding of vulnerable people wherever it operates.
## **Achievements and performance**
The Charity works through teams of British volunteers together with a small number of paid staff in Nicaragua, through a local NGO “Centro Cosecha”. It pays a small number of UK and Nicaraguan part-time workers and contractors when volunteers cannot be recruited. The Trust rents a shop selling donated goods in the UK, and is loaned warehouse space to hold goods awaiting sale or for despatch to Nicaragua. It owns a small plot of land in Managua. It does not pay professional fund-raisers.
Having decided some years ago that its mission house “Casa Mary Jane” in Managua was under-utilised, the house was sold in January 2020 for $110,000 to a US-based mission charity “Bridge to Grace”. The Trustees plan to use the funds to pursue the Trust’s objectives in coming years.
The Trust had been sending aid containers of donated medical and educational supplies and equipment to Nicaragua but was unable to do so for the last 2 years. We have sent donated hospital goods to the Philippines, as part of a project led by Gorsley Baptist Church.
The Trust again purchased new school uniforms and materials for some 300 children around Bluefields. Similar work on Ometepe is supported by the Trust, focussed on helping an expanding group of schools around Urbaite. We also continued to support a number of children's feeding programmes, art and craft initiatives, vocational training, support for churches, and a programme in Granada to rescue vulnerable girls from sexual abuse. This programme is still looking for wider sponsorship to stabilise its over-stretched operations.
We have a sound relationship with Nicaragua’s Ministry of Education, the Ministry of Health and with the local Alcaldia (City Council) in Bluefields to identify future projects and to ensure that our work is aligned closely to real local needs. We are gratified and humbled by the local community support which our activities generate. Our volunteers continue to find new ways of raising funds in the UK to help our work.
- 1 -
THE PEACE & HOPE TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Flnancial revlew
During the year the Charity had incoming resour¢8s of £203.541 {2020: £130.427}. At th& end of th8 year thg
Charity had unrestricted reserves of £195,498 {2020: £96,011).
The Trust has been able to adapt lo Circumstances around the Coronavirus and maintains several projects in
Nicaragua. It reiVed grant payments from the UK govemment in respect of temporary enforced dosures of
ils charity shop. which offset some of the impact of the loss of fund-raising activities.
The tTUStees are monitoring Carefully the finances of the Charity and believè that at present they are
satisfactory, as the operations of the charity do not require substantial reserves. 11 is therefore their policy to
keep a minimum amount in reserves, sufficient to maintain fixed assets and meet current obligations as well
as emergency contingencies. The Charity is dependent upon the regular ongoing support of its donors for the
conlirsuation of ils work.
The trustees have assessed the major risks to which the charity is exposed. and are satisfiad thal systems aro
in place to mitigate exposure to the major risks.
Structure, govarnance and management
In leg81 temis the charity is a company limited by guarantee and is a UK registered charity.
The Iruslees, who are also the directors for the purpose of company law. and who served during the year and
up lo the date of signature of the financial statements were=
Mr J Allan
Mrs J Cole
Mr W Gladstone
Mr S Goulding
Mrs A Cruz Roque
Rev'd N Bennett
MrA Crawford
Mrslnd
Mr William Hanks {Chair from 20112120201
Ms L Swanwick
Ms R Gibbins
(Resigned 10 December 2020)
(Resigned 10 November 20201
The Iru51ees ar8 appointed having regard lo tha specific skills required for the g0Veman of the Ch8rity-
Given the size of the Challty, the trustees consider that they have a suitsble range of experien for the
g0Veman of the Charity- The majority of the trustees have been involved with the activities of the Charity for
some years and are familiar with the history and operation of the Charity- New trustees have an appropriate
induction programme. but are also likely to be familiar with the work of the Charity befor8 b8MIng trustees.
The Rev'd N Bennett has not attended any meetings since 1 April 2021.
Day lo day decisions are entfusted to the Chief Executive and a small team of volunteer managers - lo cover,
for example, the staffing of the Charity's shop in Ross-on-wye. All strategic Tnatters are referred to the full
board of trustees who meet formally four limes a year. None of the trustees has any beneficial interest in the
company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a
winding up.
The Iruslees, report was approved by the Board of Tnjstees.
Mrslnd
Mr William Hanks (Chair from
20112120201
Trustee
Dated.. ..21
Trustee
Dated.. ....
THE PEACE & HOPE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE PEACE & HOPE TRUST
I report to the trustses on my èxamin81ion of thè Itnandal statements of The Peace & Hope Tru81 {Ih¢
charttyl forthè year ended 31 March 2021.
R•sponslbllltles and ba81• of report
As the trustees of Ihe chaifty {and also Its dlrectors for the purposes of company lawl you are responsible
for the preparation of Ihe financ4al ststements in attordance with the tequiremenls of the Companigs A¢1
2006 (the 2006 Act).
Having sali8fied rnY8e that the financial statements of the tharity are not requlred to b8 audlted undèr Part
16 of the 2006Act and are 81igible for ind¢pendenl examination, I report in r8SP8Ct of my examinatton of th#
charity's financial stat&ments carri&d out under secbon 145 01 the Charfues Act 2011 (the 2011 Act). In
carrying out my examination I have followed all the applicable Directions gNen by the Charity Commi85ion
under section 14515llbl of the 2011 Act.
An examlnatlon Indudes a ievlew of the accounting records kept by the charfty and a comparfson of the
accounts presented vhth those records. It also indudes conshleration of any unusual items or disclosures in
the accounts, and Seeking explanations from the trustees conceming any 8uch matters. Tho pl0ur&S
ndèrtakan do not provlda all tha èvldancè that would be requlred In an audlt. and consequently no opinion
is given as to whether the accounts preSt a Irue and falr. view and the report is limitsd to those matteTB
Set out in the statement below.
Independent examlnerfs Statement
I have completed my examination. l ojnfirn that no matters have come to my attention In Conne0 wjth
the examination giving me cau80 lo believe that In any material re$pè¢t'.
accounting Tecords were not kept in iespect of the chafty a8 requiied by Section 386 of the 2006 Ad.,
the finanrAal ststsments do not accord with Ih05e records., or
the financAal statements do not comp ¥th the accounting qUIrementS of section 398 of the 2C116 Act
othei than any requirement that the accx•unts gwe a true and fair wew which is not a matter considered
as part of an independent examination,. or
the )Inanc4al slalernents have not been prepared in accordance with the mefhods and principles of the
stalèmerrt of Recommendgd Practice for a¢counling and rgporting by ¢harilie$ appli¢ablp to Char#$
prepartng thelr accounts In accordance wrfh the Flnanclal Reportlng Standard appllcable in the UK and
Republic of Ireland (FRS 121.
I have no concems and have come across no othèr mattors In connecllon wth the examlnatlon to whlch
attention 8hould be drawn in th18 report in order to enable a proper understanding of the financial stalements
to bè rèachèd.
Francos Wilde FCCA DChA
Wamerwlde
Chartered CerllfiedAccountsnls
4 Marlgold Drfve
Bislèy
Surrgy
GU24 9SF
Dated..
IoiL
## **THE PEACE & HOPE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
111,272
22,146
Other trading activities
**4**
280
-
Investments
**5**
473
-
Other income
**6**
69,370
-
**Total income**
181,395
22,146
**Expenditure on:**
Raising funds
**7**
-
-
Charitable activities
**8**
81,908
19,851
**Total resources**
**expended**
81,908
19,851
Gross transfers
between funds
-
-
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
99,487
2,295
Fund balances at 1
April 2020
96,011
9,911
**Fund balances at 31**
**March 2021**
195,498
12,206|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
**£**
**£**
133,418
110,956
12,115
280
6,750
-
473
606
-
69,370
-
-
203,541
118,312
12,115
-
205
-
101,759
154,914
13,050
101,759
155,119
13,050
-
1,815
(1,815)
101,782
(34,992)
(2,750)
105,922
131,003
12,661
207,704
96,011
9,911|Total
2020
**£**
123,071
6,750
606
-
130,427
205
167,964
168,169
-
(37,742)
143,664
105,922|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
THE PEACE & HOPE TRUST
BALANCE SHEET
ASAT31 MARCH 2021
2021
2020
Notes
Flx•d assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
12
7,675
11,094
13
4,288
196,899
622
95.326
201,187
95,948
Creditors: amounts falling due viithin
one yaar
14
11,1581
11.1201
Net current assets
200,029
94.828
Total assets less Current Ilabilltles
207.704
105,922
Income funds
Restricted funds
Unrestricted funds
15
12,206
195,498
9,911
96,011
207,704
105,922
The company is enliued to tho exemption from the audit roquirement contained in sectbon 477 of the Companies
Act 2008. for the year ended 31 M8r¢h 2021.
The trustees acknowledge their responsibilities for ensuring that the charity keeps acwunting records which
comply with section 386 of the Act and for preparing finanal ststements which give a true and fair view of the
state of affairs of the company as at the end of the financial year and of its incorning resources and application of
resources, induding its incorne and expenditure. for the financial year in accordance with the requirements of
sections 394 and 395 and which otheTrwse comply with the requirements of the Companies Act 2006 relating to
financial statements. so far as applicable to the company.
The members have not required the company to obtain an audlt of Its financial statements for the year in
question In accordance with secuon 476.
These financial slalemenls have been prepared in accordan with the provisions applitxbl& to wmpanies
subject to the small companies regime.
The financial statements were approved by the Trustees
Mrs Ind
Tw$tse
illiam Hanks {Chair from 2011212020}
Trustee
Company Reglstration No. 6056965
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **Charity information**
The Peace & Hope Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Little Llanafon Farm, Dorstone, Hereford, Herefordshire, HR3 6AT.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 6 -
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
**(Continued)**
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land Not depreciated Computer and office equipment 33.33% straight line Motor vehicles 25.00% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 7 -
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at recoverable amount.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price and are subsequently carried at payable amount.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amo unt payable.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Taxation**
The Company is a registered charity and is not subject to Income Tax on its current activities.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 8 -
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
91,841
22,146
Grants
19,431
-
111,272
22,146|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
£
£
113,987
110,956
12,115
19,431
-
-
133,418
110,956
12,115|Total
2020
£
123,071
-
123,071|
|---|---|---|
## **Donated goods and services**
Donated services are in respect of time spent working as a dentist in Nicaragua.
## **4 Other trading activities**
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
|||**£**|£|
||Fundraising events|280|6,750|
|**5**|**Investments**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2021**|2020|
|||**£**|£|
||Interest receivable|473|606|
|**6**|**Other income**|||
|||**Unrestricted**|Total|
|||**funds**||
|||**2021**|2020|
|||**£**|£|
||Net gain on disposal of tangible fixed assets|69,370|-|
The Trust sold its mission house Casa Mary Jane in Managua to a mission church "Bridge to Grace Church", who plan to use it more fully.
- 9 -
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**6**
**7**
**8**|**Other income**
**(Continued)**
**Raising funds**
**Total**Unrestricted
funds
**2021**
2020
**£**
£
Fundraising and publicity
Other fundraising costs
-
205
-
205
**Charitable activities**
**Project**
**activities**
**Project**
**activities**
**2021**
**2020**
**£**
**£**
Staff costs
595
1,827
Depreciation and impairment
3,419
5,766
Project costs
93,707
146,030
Logistical support
-
6,983
Office
2,878
6,238
100,599
166,844
Share of governance costs (see note 9)
1,160
1,120
101,759
167,964
**Analysis by fund**
Unrestricted funds
81,908
154,914
Restricted funds
19,851
13,050
101,759
167,964|
|---|---|
- 10 -
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **9 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent Examiner's
fees
-
1,160
-
1,160
Analysed between
Charitable activities
-
1,160|**2021**
Support
costs
Governance
costs
**£**
£
£
1,160
-
1,120
1,160
-
1,120
1,160
-
1,120|2020
£
1,120
1,120
1,120|
|---|---|---|
Governance costs includes accrued costs to the Independent Examiner of £ 1,160 (2020- £ 1,120 ) for Independent Examination fees including VAT .
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year, and none (2020: None) received reimbursed e xpenses (2020- £ Nil ).
## **11 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Administration|1|1|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|595|1,827|
There was one part-time employee in the United Kingdom during the year (2020:1). Their time amounted to 0.1 (2020: 0.1 FTE).
There were no employees whose annual remuneration was £60,000 or more.
- 11 -
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **12 Tangible fixed assets**
|**Cost**
At 1 April 2020
At 31 March 2021
**Depreciation and impairment**
At 1 April 2020
Depreciation charged in the year
At 31 March 2021
**Carrying amount**
At 31 March 2021
At 31 March 2020|**Land Computer and**
**office**
**equipment**
**Motor**
**£**
**£**
46,231
15,884
46,231
15,884
38,556
15,884
-
-
38,556
15,884
7,675
-
7,675
-|**vehicles**
**£**
23,064
23,064
19,645
3,419
23,064
-
3,419|**Total**
**£**
85,179
85,179
74,085
3,419
77,504
7,675
11,094|
|---|---|---|---|
Land represents land and property held in Nicaragua. It is stated at cost less impairment.
The charity built a house “Casa Mary Jane” in Managua, in 2006. Due to ongoing political and economic volatility the cost of the house has been fully impaired in previous financial statements. The property, which had been for sale for 4 years, without serious interest, sold in February 2021 and the proceeds net of sale costs are included within 'other income'.
## **13 Debtors**
|**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2021**
**£**
3,675
613
4,288
**2021**
**£**
1,158|**2020**
**£**
-
622
622
**2020**
**£**
1,120|
|---|---|---|
- 12 -
## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **15 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|**Incoming**|**Resources**||**Balance at**|
||**1 April 2019**|**resources**|**expended**||**1 April 2020**|**resources**|**expended**|
**31**|**March 2021**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**||**£**|
|Moringa Project|2,551|-|-|(1,815)|736|-|-||736|
|Mary Anne Vocational Centre|2,587|1,870|(2,990)|-|1,467|1,890|-||3,357|
|Mother & Child Development Centre|277|275|-|-|552|760|-||1,312|
|Carolyn Gibbs|109|9,970|(10,060)|-|19|8,913|(9,115)||(183)|
|Warehouse project|7,137|-|-|-|7,137|-|-||7,137|
|Tim Sharpe|-|-|-|-|-|583|(8,862)||(8,279)|
|ECHO|-|-|-|-|-|10,000|(1,874)||8,126|
||12,661|12,115|(13,050)|(1,815)|9,911|22,146|(19,851)||12,206|
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## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **15 Restricted funds**
**(Continued)**
_Moringa project_ - A project to develop Moringa, the 'Miracle Tree', and to seek ways of realising its potential for the benefit of needy communities. Additional expenses from 2017 have been identified, which were originally treated as "unrestricted" expenditure. This has been corrected through a transfer as a non material adjustment.
_Mary Anne Vocational Centre -_ The Charity continues to support tutors at the Mary Anne Vocational Centre, built in memory of a former team member, through the application of regular donations. The centre provides free tuition in a range of subjects.
_Other Mission Support -_ Specific gifts for particular aspects of mission outreach are passed on in accordance with the wishes of the donors.
_Mother and Toddler groups_ - In 2017, three groups were inaugurated in the poorest districts of Bluefields, Nicaragua, with the help of the Trust. The plan is that these group are led and controlled by the mothers themselves and are self-sustaining. Over time only one group (at Santa Rosa) has flourished. The Trust shall continue to monitor their on-going progress, effectiveness and sustainability and if found to be successful, shall assist in the set-up of additional groups in the future. _Warehouse Project -_ to buy land for building a storage warehouse
_School Building Project -_ to build a school in Las Brenas
_ECHO_ - The ECHO grant was provided to pay for shipping of containers to Nicaragua and, by subsequent amendment, to the Philippines also.
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## **THE PEACE & HOPE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**16**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
March 2021 are
represented by:
Tangible assets
7,675
-
Current assets/
(liabilities)
185,949
14,080
193,624
14,080|**Total**Unrestricted
funds
Restricted
funds
**2021**
2020
2020
**£**
£
£
7,675
11,094
-
200,029
84,917
9,911
207,704
96,011
9,911|Total
2020
£
11,094
94,828
105,922|
|---|---|---|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none).
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