Charity registration number 1120555
Company registration number 6056965 (England and Wales)
THE PEACE & HOPE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
THE PEACE & HOPE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr J Allan |
|---|---|
| Mrs A Cruz Roque | |
| Mr A Crawford | |
| Mr S Ind | |
| Mr William Hanks (Chair) | |
| 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 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 16 |
THE PEACE & HOPE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their annual report and financial statements for the year ended 31 March 2022.
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
During 2021/22 the Charity worked through teams of British volunteers together with a small number of paid staff in Nicaragua, through a local NGO “Centro Cosecha”. It paid a small number of UK and Nicaraguan part-time workers and contractors when volunteers could not 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 or other destinations. It owns a small plot of land in Managua. In 2021 a Cycle Sportive was held to raise funds for the Trust. It does not pay professional fund-raisers.
In May 2022 the Nicaraguan government closed down Centro Cosecha, formally for failure to conform to a recent strict compliance regime which also brought the closure of more than a thousand other NGOs. All of its staff were necessarily made redundant, with the most generous terms we felt justifiable. The Trustees immediately began to seek a legally-compliant method of returning to the projects which bring relief to the poorest of Nicaraguan society. That process continues.
As a result, and mainly due to government compliance requirements, the Trust’s projects are necessarily subject to a much-increased proportion of administrative cost and effort in Nicaragua, compared to the cost of the items purchased (such as school books and teaching materials). The Trustees have made substantial efforts to address this issue. There is little or no increase in administration costs in the UK.
We paid for the roof of a school rebuild on Ometepe. Our continuing programme of upgrading school buildings and clinics was held up by Covid restrictions, and subsequently by the closure of Centro Cosecha, but we plan to resume as soon as is practicable.
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 3 years. We have sent donated hospital goods to the Philippines, as part of a project led by Gorsley Baptist Church, and in February 2022 to Romania, to assist the refugees from Ukraine. We are still holding goods targeted for Nicaragua, as soon as the import of these items is possible.
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THE PEACE & HOPE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
The Trust again purchased new school uniforms and materials, and Christmas/end-of-school-year presents, 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. We also supplied maternity packs and baby packs for new mothers in the coastal regions, distributed via the clinics, and in a new initiative we bought start-up kits for training doctors there – high-quality stethoscopes and similar essential tools.
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.
Financial review
During the year the Charity had incoming resources of £129,445 (2021: £203,541). At the end of the year the Charity had unrestricted reserves of £210,287 (2021: £195,498).
The Trust has been able to adapt to circumstances around the Coronavirus and maintains several projects in Nicaragua. It received grant payments from the UK government in respect of temporary enforced closures of its charity shop, which offset some of the impact of the loss of fund-raising activities.
The trustees are monitoring carefully the finances of the Charity and believe that at present they are satisfactory, as the operations of the charity do not require substantial reserves. lt 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 continuation of its work.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
In legal terms the charity is a company limited by guarantee and is a UK registered charity.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr J Allan
Mrs J Cole (Resigned 25 May 2022) Mrs A Cruz Roque Rev'd N Bennett (Resigned 7 March 2022) Mr A Crawford Mr S Ind Mr William Hanks (Chair) Ms L Swanwick (Resigned 31 May 2022) Ms R Gibbins
The trustees are appointed having regard to the specific skills required for the governance of the Charity. Given the size of the Charity, the trustees consider that they have a suitable range of experience for the governance 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 before becoming trustees.
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THE PEACE & HOPE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2022 Day to day decisi¢5 are entrwsted lo the Chief Executive and a small team of volunteer managws- to cover. for example. the staffing of the Charitls shop in Ross-on-wye. All strategic matters are referrj to the ftjll board of Irustees who meet fomially four times a year. None of the truslees has any benefiual interest in the company. All of the trustees are member5 of the company and guarantee to (yyrtribute £10 in the event of a wnding up. Th8 trustees. report Wds approved by the Board ofTru5tees. Mrslnd Trustse Mr Trustee Hanks
THE PEACE & HOPE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PEACE & HOPETrUST l report to tho trustees on my exorn8t50n ofthe lknanclgl statwts of Tho Poo & Hope T81 (the chadtyl for tho year ended 31 March 2022. RMpon•lbllltl•• and ba•1• of r•port A8 thè Iru$let8 01 Iht charlty (and also Its dlrèctorn for thè purpts of company lawl you ar8 rèspon8Sble for the preparallon of tho fir1 ststomonts In Iho wuiromonts of tho Componw AGt 2006 Ilho 2006 Act). Having 8alb8fi8d myseff that the fmandal 8tatem8nts of lh8 are rh)t requlrvrtj to be aLJlt8d under Part 16 of th8 2006 Act and are eligible for ind8p8nd&nt axaminatknn. I r&F4Yt In rosp$¢t of my •xamlnalion of the ¢harlty'$ flnandol $t8temgnts cerrkd out under s&don 145 of th8 Ch8rlUes Act 2011 Ithè 2011 Actl. In ¢arylng out my gxaminatlon I have lollowed all the 8pplkabl8 Dire(on8 givon by the Charity Comm18sksn under 88CtOon 145{51 (bl of the 2011 ACL An examinatlon Indud88 8 r8vlew ol Ihe accounting record8 knpl by the tharity and a ¢omparl8on of tha accounts preSt•d with thwJg re8. tt 8180 IndLth ls1dratIon of any unu8U81 Item8 or dl8cIo8ure8 In th• accounts. and seeklng 8xplanalon8 from thè trusl8e8 ¢oneemlng any 8uch matter8. The procedures undertaken do not provide all the evkl8nce that would be required In an audit. and con88qUanY no oplnlon 1$ glvgn as to whether the account8 pwnt a Irue 8ThJ fair, vlow oThJ ts roport 1$ Ilmltod to tlh)88 matters 801 out In thg 8tstemenl b•low. Ind•p•nd•nt •xamln•rf• •tstement I havo complèt8d my èxamlnatlon. I confirm that no mattw5 hav8 o)me to rny attontlon kn connoctlon tho 6xamlnallon gfvlng me cause to bell8ve thgt In any matarlal raspgrt.. accounts'ng records were not kept in r8sp8ct of tha charlty 98 rgqulrod by 8ectk)n 388 of the 2006 Art or the flnan¢lal 8talèments do not accord wbth thoso r8(¥yds: ¢Y the financlal stslements do not comrAy th the acc(nng requlrem8nt8 d $oth*n 396 of tho 2008 Act Other than any requirement that the ac•)Junt8 and f8ir vlow V&thlch18 not a matter cOldered a8 part of an IrKl8pendent ex8mlndon: the fjnancl81 st816mènts have rw)t prgporgd In 8cC£ffd¥n wllh the methods and prlnclpl88 of the Slalement of Recommandgd pr¢8 lor 8cctyJnting and repIng by charftl88 OpICable to chgrllla8 proparSng Ihdr 8c¢ounts In accordance vAth the Flnancial R8porOng SIAndard opplS¢8blo In th• UK 8nd Rewblk of IrtIar (FRS 1021. I hove no nc¢m$ and have com8 acTOSS Th) Other matt8rs in connocllon wth the &x8mination to which attention Should drawn In thL8 report In dr to eno1)1• 8 prcygr underslandong of tM financlal 8tateffl8nt8 to b8 reached. Frnnce• Wlld• FCCA OChA Wgrngr wiiao Chartered Cortm9d Acuuntants 4 Marigold Drfve Bl8lay Surrey GU24 9SF Dated..
THE PEACE & HOPE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income and endowments from: Donations and legacies 3 86,371 11,974 Charitable activities 4 11,359 - Other trading activities 5 19,412 - Investments 6 329 - Other income 7 - - Total income 117,471 11,974 Expenditure on: Raising funds 8 7,016 - Charitable activities 9 79,343 28,972 Total expenditure 86,359 28,972 Net incoming/(outgoing) resources before transfers 31,112 (16,998) Gross transfers between funds (16,323) 16,323 Net income/(expenditure) for the year/ Net movement in funds 14,789 (675) Fund balances at 1 April 2021 195,498 12,206 Fund balances at 31 March 2022 210,287 11,531 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 98,345 111,272 22,146 11,359 - - 19,412 280 - 329 473 - - 69,370 - 129,445 181,395 22,146 7,016 - - 108,315 81,908 19,851 115,331 81,908 19,851 14,114 99,487 2,295 - - - 14,114 99,487 2,295 207,704 96,011 9,911 221,818 195,498 12,206 |
Total 2021 £ 133,418 - 280 473 69,370 203,541 - 101,759 101,759 101,782 - 101,782 105,922 207,704 |
|---|---|---|
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.
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THE PEACE & HOPE TRUST
BALANCE SHEET
AS AT 31 MARCH 2022
| Notes Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Income funds Restricted funds 16 Unrestricted funds |
2022 £ 3,690 214,595 |
£ 7,675 214,143 221,818 11,531 210,287 221,818 |
2021 £ 4,288 196,899 |
£ 7,675 200,029 |
|---|---|---|---|---|
| 218,285 (4,142) |
201,187 (1,158) |
|||
| 207,704 | ||||
| 12,206 195,498 |
||||
| 207,704 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
.............................. .............................. Mr S Ind Mr William Hanks (Chair) Trustee Trustee
Company registration number 6056965
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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.
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.
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
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 the statement of financial activities .
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.
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.
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
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.
3 Donations and legacies
| Unrestricted Restricted funds funds 2022 2022 £ £ Donations and gifts 83,704 11,974 Grants 2,667 - 86,371 11,974 |
TotalUnrestricted Restricted funds funds 2022 2021 2021 £ £ £ 95,678 91,841 22,146 2,667 19,431 - 98,345 111,272 22,146 |
Total 2021 £ 113,987 19,431 133,418 |
|---|---|---|
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
4 Charitable activities
| 2021 | |||
|---|---|---|---|
| 2022 | |||
| £ | £ |
||
| Sales within charitable activities | 11,359 | - |
|
| 5 | Other trading activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fundraising events | 2,645 | 280 | |
| Shop income | 16,767 | - | |
| Other trading activities | 19,412 | 280 | |
| 6 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Interest receivable | 329 | 473 | |
| 7 | Other income | ||
| Total | Unrestricted | ||
| funds | |||
| 2022 | 2021 | ||
| £ | £ | ||
| 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.
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
8 Raising funds
| Unrestricted funds 2022 £ Trading costs Staff costs 7,016 7,016 Charitable activities 2022 £ Staff costs - Depreciation and impairment - Project costs 107,037 Office - 107,037 Share of governance costs (see note 10) 1,278 108,315 Analysis by fund Unrestricted funds 79,343 Restricted funds 28,972 108,315 |
Total 2021 £ - - 2021 £ 595 3,419 93,707 2,878 100,599 1,160 101,759 81,908 19,851 101,759 |
|---|---|
9 Charitable activities
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
| 10 Support costs Support costs Governance costs £ £ Independent Examiner's fees - 1,278 - 1,278 Analysed between Charitable activities - 1,278 |
2022 Support costs Governance costs £ £ £ 1,278 - 1,160 1,278 - 1,160 1,278 - 1,160 |
2021 £ 1,160 1,160 1,160 |
|---|---|---|
Governance costs includes accrued costs to the Independent Examiner of £ 1,260 (2021- £ 1,160 ) for Independent Examination fees including VAT .
11 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year, and none (2021- None) received reimbursed e xpenses (2021- £ Nil ).
12 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Administration | 1 | 1 |
| Employment costs | 2022 | 2021 |
| £ | £ | |
| Wages and salaries | 7,016 | 595 |
There was one part-time employee in the United Kingdom during the year (2021:1). Their time amounted to 0.1 (2021: 0.1 FTE).
There were no employees whose annual remuneration was more than £60,000.
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
13 Tangible fixed assets
| Cost At 1 April 2021 At 31 March 2022 Depreciation and impairment At 1 April 2021 At 31 March 2022 Carrying amount At 31 March 2022 At 31 March 2021 |
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 23,064 23,064 - - |
Total £ 85,179 85,179 77,504 77,504 7,675 7,675 |
|---|---|---|---|
Land represents land and property held in Nicaragua. It is stated at cost less impairment.
14 Debtors
| 14 | Debtors | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Amounts falling due within one year: | £ | £ | |
| Other debtors | 3,115 | 3,675 | |
| Prepayments and accrued income | 575 | 613 | |
| 3,690 | 4,288 | ||
| 15 | Creditors: amounts falling due within one year |
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Trade creditors | 2,145 | - |
| Accruals and deferred income | 1,997 | 1,158 |
| 4,142 | 1,158 |
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
16 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 | Balance at | Incoming | Resources | Transfers | Balance at |
|
| 1 April 2020 | resources | expended | 1 April 2021 | resources | expended | 31 March 2022 | ||
| £ | £ | £ | £ | £ | £ | £ | £ |
|
| Moringa Project | 736 | - | - | 736 | - | - | - | 736 |
| Mary Anne Vocational Centre | 1,467 | 1,890 | - | 3,357 | 1,920 | (983) | - | 4,294 |
| Mother & Child Development Centre | 552 | 760 | - | 1,312 | 380 | (1,140) | - | 552 |
| Carolyn Gibbs | 19 | 8,913 | (9,115) | (183) | 6,490 | (7,495) | - | (1,188) |
| Warehouse project | 7,137 | - | - | 7,137 | - | - | - | 7,137 |
| Tim Sharpe | - | 583 | (8,862) | (8,279) | 134 | (1,343) | 9,488 | - |
| ECHO | - | 10,000 | (1,874) | 8,126 | - | (8,126) | - | - |
| Casa Rahab | - | - | - | - | 3,050 | (9,885) | 6,835 | - |
| 9,911 | 22,146 | (19,851) | 12,206 | 11,974 | (28,972) | 16,323 | 11,531 |
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
16 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.
Mary Anne Vocational Centre - The Trust 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.
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 was that these groups should be led and controlled by the mothers themselves and be 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.
Carolyn Gibbs - The Trust receives restricted donations and pays them every month to Carolyn's project account for school support work in Ometepe.
Warehouse Project - to buy land for building a storage warehouse
Tim Sharpe - The Trust receives restricted donations in recognition of Tim's service to the Trust.
ECHO - The ECHO grant was provided to pay for shipping of containers to Nicaragua and, by subsequent amendment, to the Philippines also.
Casa Rahab - The Trust operates a day centre for vulnerable and abused girls in Granada, Nicaragua. Restricted donations cover some of the running costs - the residue comes from unrestricted funds.
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THE PEACE & HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
| 17 Analysis of net assets between funds Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 31 March 2022 are represented by: Tangible assets 7,675 - Current assets/ (liabilities) 202,612 11,531 210,287 11,531 |
TotalUnrestricted funds Restricted funds 2022 2021 2021 £ £ £ 7,675 7,675 - 214,143 185,949 14,080 221,818 193,624 14,080 |
Total 2021 £ 7,675 200,029 207,704 |
|---|---|---|
18 Related party transactions
There were no disclosable related party transactions during the year (2021 - none) .
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