**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.
- 1 -
## **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.
- 2 -
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$let8 01 Iht charlty (and also Its dlrèctorn for thè purpts of company lawl you ar8 rèspon8Sble for the
preparallon of tho fir1 ststomonts In Iho wuiromonts of tho Componw AGt 2006 Ilho
2006 Act).
Having 8alb8fi8d myseff that the fmandal 8tatem8nts of lh8 are rh)t requlrvrtj to be aL*Jlt8d under Part 16 of
th8 2006 Act and are eligible for ind8p8nd&nt axaminatknn. I r&F4Yt In rosp$¢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.
- 5 -
## **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**
- 6 -
**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.
- 7 -
## **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.
- 8 -
## **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|**Total**Unrestricted
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|
|---|---|---|
- 9 -
## **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.
- 10 -
## **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**
- 11 -
## **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.
- 12 -
## **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|
- 13 -
## **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|
- 14 -
## **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.
- 15 -
## **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|**Total**Unrestricted
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) .
- 16 -