**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 2023** ## **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 - 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 2023**_ The trustees present their annual report and financial statements for the year ended 31 March 2023. 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 resource-poor 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 2022/3 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 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. In Nicaragua our assets at the time of closure consisted of a truck (sold May 2023) and a plot of land outside Managua, which we continue to own. The redundancies and the write-down of the truck imposed additional costs of approximately £20,000 in the year ending 31 March 2023. The Trustees immediately began to seek a legally-compliant method of returning to the projects which bring relief to the poorest of Nicaraguan society. We are proud of the projects which we have completed – purchase of school uniforms and provision of some computer equipment to Paz y Esperanza school, for example. However, our ability to transfer funds to Nicaragua has been dramatically restricted. We have ceased taking dental teams into the country. As a result, and mainly due to government compliance requirements, the Trust’s projects are necessarily subject to a higher 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. The Trust had been sending aid containers of donated medical and educational supplies and equipment to Nicaragua but that route is now closed. We have sent such goods to the Philippines, as part of a project led by Gorsley Baptist Church, and in February 2023 to Romania, partly to assist the refugees from Ukraine. Some work on Ometepe is supported by the Trust, focussed on helping an expanding group of schools around Urbaite. We also continued to support a children's feeding programme. - 1 - ## **THE PEACE & HOPE TRUST** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **Financial review** During the year the Charity had incoming resources of £106,795 (2022: £129,445). At the end of the year the Charity had unrestricted reserves of £199,529 (2022: £210,287). The Charity has necessarily wound up its restricted reserves relating to Nicaraguan projects including Casa Rahab and has (with the consent of donors) transferred all funds to General reserves, or refunded them to the donors. The trustees are monitoring the finances of the Charity and believe that at present they are satisfactory, measured against its commitments. lt is 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 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 them. ## **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 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. Day to day decisions are entrusted to the Chief Executive and a small team of volunteer managers - to cover, for example, the staffing of the Charity's shop in Ross-on-Wye. All strategic matters are referred to the full board of trustees who meet formally four times 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 trustees' report was approved by the Board of Trustees. .............................. .............................. Mr S Ind Mr William Hanks (Chair) **Trustee Trustee** Date: ............................................. - 2 - THE PEACE & HOPE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PEACE & HOPE TRUST I report to the trustees on my examlnation ofthe finanLyal statements of The Peoce & Hopo Trust (the charity) the yeor ended 31 Morch 2023. R08ponslbllltl•s and basls of rèport As the truslaes of tha charity {and also its directors for the pury)oses of company18wI you are responsible for the preparation of the financkl stateménts in accrydance with the wuiremgnts of th8 COff￿an19S Act 2(K)6 {the 2006 AGtI. Havlng satisfied mysew that the finan￿￿ stslements of the tharfty are not requlred to ￿ audltéd under Part 16 of th8 2006 AGt and are eligible for independent examlnaUon. I report In respect of my exominatbon of the charivs flnancial stalem8nts carrfed out under sectlon 145 of the Charities Act 2011 Ith8 2011 Act). In carying out my examln8tlon I have followed all the applcabl8 Dlredlons 9Sven by th8 Chaty Commlsslon under 8eGtlon 145(5) Ibl of th9 2011 Act. An examination Indudes a revl8w of the aceountlng ro¢ord5 kgpt by tho charfty and a comparfson of the accounts presented with those records. 11 also indudes consideration of any unusual items or dlsclosures In the or£ounls. and seeking explanalions from the Irusteas concèming any such mattgrs. Thg proGodurgs undertakers do not provlde 811 the evldence Ihat would be required in an audit, and consequenlty no opinion 18 given as to whether the accounts present a Irue and falr. vlew and th8 r8F*Jt 18 Ilmllad to those mattor$ set out In the 8talem8nt below. Ind•pond•nt •umln•rf• stat•m•nl I have ¢ompleted my examination. I confinn that no matters have ￿me lo my ottontlon In ¢onngGti¢)n wilh tho examlnatlon glvlng me c8use to bell6v6 that In any material respect.. accounlng records were not kept In r95POGt of the charlty as Tequlrod by sedon 388 of the 2006 ACL. or tha finand818tatements do not acurd with th089 record8; or th8 flnaneial statements do not comply wAth Ihe accountir4J requlrem8nts of 88ction 396 of the 2006 Act other than any requlrement Ihal the ac%ounts glve a truè and falr vlow whlch Is not a matter consldered as part ol an Indep8nd6nl axamlnatlon., or the financial statements have not been wepared In aL¥x)rdance wlth the metlM)ds and prlncipla$ ol tho Statement of Recommended Practice for accounting and reporting by tharities applicable to charttles preparing thelr accounts In accordance with the Finanual Reporling Standard applicable in th6 UK and Republlc of Ireland {FRS 102). I have no concems and hav6 ¢¢mg a¢￿$ no other matterJ Sn connection wfth Ihe examln8lk)n to whlch attentlon should b8 drawn In IhS8 report In order to enable a proper undèrstsnding of the finano5al slalements to be reached. FranGe• Wllde FCCA DChA Wamer Wilde Chartered Cthfied Acct)untants 4 Marfgold Drfve Blsley Surrey GU24 9SF Dated.. ## **THE PEACE & HOPE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
50,390
22,430
Charitable activities
**4**
2,039
-
Other trading activities
**5**
30,445
-
Investments
**6**
1,491
-
**Total income**
84,365
22,430
**Expenditure on:**
Raising funds
**7**
9,233
-
Charitable activities
**8**
99,030
22,493
Other
(9,719)
-
**Total expenditure**
98,544
22,493
**Net (outgoing)/incoming**
**resources before transfers**
(14,179)
(63)
Gross transfers
between funds
3,421
(3,421)
**Net (expenditure)/income**
**for the year/**
**Net movement in funds**
(10,758)
(3,484)
Fund balances at 1 April 2022
210,287
11,531
**Fund balances at 31 March**
**2023**
199,529
8,047|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
72,820
86,371
11,974
2,039
11,359
-
30,445
19,412
-
1,491
329
-
106,795
117,471
11,974
9,233
7,016
-
121,523
79,343
28,972
(9,719)
-
-
121,037
86,359
28,972
(14,242)
31,112
(16,998)
-
(16,323)
16,323
(14,242)
14,789
(675)
221,818
195,498
12,206
207,576
210,287
11,531|**Total**
**2022**
**£**
98,345
11,359
19,412
329
129,445
7,016
108,315
-
115,331
14,114
-
14,114
207,704
221,818| |---|---|---| 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** ## _**AS AT 31 MARCH 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**15**
Unrestricted funds|**2023**
**£**
1,515
195,362|**£**
13,566
194,010
207,576
8,047
199,529
207,576|**2022**
**£**
3,690
214,595|**£**
7,675
214,143| |---|---|---|---|---| ||196,877
(2,867)||218,285
(4,142)|| |||||| |||||221,818| |||||11,531
210,287| |||||221,818| 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 2023. 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** - 5 - **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **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. - 6 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **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. - 7 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **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**
**2023**
**2023**
**£**
**£**
Donations and gifts
50,390
20,330
Grants
-
2,100
50,390
22,430|**Total**Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
£
£
70,720
83,704
11,974
2,100
2,667
-
72,820
86,371
11,974|Total
2022
£
95,678
2,667
98,345| |---|---|---| - 8 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **4 Charitable activities** |**5**
**6**
**7**|**2023**
**2022**
**£**
**£**
Sales within charitable activities
2,039
11,359
**Other trading activities**
**Unrestricted**Unrestricted
**funds**
funds
**2023**
2022
**£**
£
Fundraising events
-
2,645
Shop income
30,445
16,767
Other trading activities
30,445
19,412
**Investments**
**Unrestricted**Unrestricted
**funds**
funds
**2023**
2022
**£**
£
Interest receivable
1,491
329
**Raising funds**
**Unrestricted**Unrestricted
**funds**
funds
**2023**
2022
**£**
£
Trading costs
Operating charity shops
9,233
7,016
9,233
7,016| |---|---| - 9 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **8 Charitable activities** |Depreciation and impairment
Project costs
Office
Share of governance costs (see note 9)
**Analysis by fund**
Unrestricted funds
Restricted funds
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent Examiner's
fees
-
1,320
-
1,320
Analysed between
Charitable activities
-
1,320|**2023**
**£**
1,320
1,320
1,320|**2023**
**£**
17,279
99,580
3,344
120,203
1,320
121,523
99,030
22,493
121,523
Support
costs
Governance
costs
£
£
-
1,278
-
1,278
-
1,278|**2022**
**£**
-
107,037
-
107,037
1,278
108,315
79,343
28,972
108,315
2022
£
1,278
1,278
1,278| |---|---|---|---| ## **9 Support costs** Governance costs includes accrued costs to the Independent Examiner of £ 1,320 (2022- £ 1,260 ) 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 (2022- None) received reimbursed e xpenses (2022- £ Nil ). - 10 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **11 Impairments** Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss: ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |In respect of:||| |Property, plant and equipment|17,279|-| ## **12 Tangible fixed assets** |**Cost**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**Depreciation and impairment**
At 1 April 2022
Impairment losses
Eliminated in respect of disposals
At 31 March 2023
**Carrying amount**
At 31 March 2023
At 31 March 2022|**Land Computer and**
**office**
**equipment**
**Motor vehicles**
**Total**
**£**
**£**
**£**
**£**
46,231
15,884
23,064
85,179
-
-
23,170
23,170
-
-
(13,676)
(13,676)
46,231
15,884
32,558
94,673
38,556
15,884
23,064
77,504
-
-
17,279
17,279
-
-
(13,676)
(13,676)
38,556
15,884
26,667
81,107
7,675
-
5,891
13,566
7,675
-
-
7,675| |---|---| More information on the impairment arising in the year is given in note 11. The Trust replaced its truck in Managua just before the government closure and was therefore obliged to sell it subsequently. The truck has been written-down to its disposal value at 31 March 2023. The Trust’s land in Managua is held at the Trustees’ best estimate of its realisable value. The Trust continues to hold a truck (fully written-down) in the UK for its warehouse and shop activities. - 11 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**13**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Trade creditors
Accruals and deferred income|**2023**
**£**
869
646
1,515
**2023**
**£**
-
2,867
2,867|**2022**
**£**
3,115
575
3,690
**2022**
**£**
2,145
1,997
4,142| |---|---|---| - 12 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **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**|**Transfers**||**Balance at**| ||**1 April 2021**|**resources**|**expended**||**1 April 2022**|**resources**|**expended**||**31**|**March 2023**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**||**£**| |Moringa Project|736|-|-|-|736|-|-|-||736| |Mary Anne Vocational Centre|3,357|1,920|(983)|-|4,294|1,735|(1,763)|(4,266)||-| |Mother & Child Development Centre|1,312|380|(1,140)|-|552|360|-|(792)||120| |Carolyn Gibbs|(183)|6,490|(7,495)|-|(1,188)|8,647|(8,725)|1,188||(78)| |Warehouse project|7,137|-|-|-|7,137|-|-|-||7,137| |Tim Sharpe|(8,279)|134|(1,343)|9,488|-|497|(945)|448||-| |ECHO|8,126|-|(8,126)|-|-|-|-|-||-| |Casa Rahab|-|3,050|(9,885)|6,835|-|150|(150)|-||-| |Land transport|-|-|-|-|-|1,500|(1,500)|-||-| |Valeria's House|-|-|-|-|-|8,941|(8,942)|1||-| |Medical|-|-|-|-|-|600|(468)|-||132| ||12,206|11,974|(28,972)|16,323|11,531|22,430|(22,493)|(3,421)||8,047| - 13 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **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. _Mary Anne Vocational Centre -_ The Trust supported 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 operated 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. The Restricted funds shown in this note are mainly related to projects in Nicaragua and the Trust is winding up those which now have no realistic prospect of continuing, given the closure of Centro Cosecha. We have wound up the Mary Anne Vocational Centre and Casa Rahab funds by contacting the donors and refunding donations as they direct. The Moringa project, Warehouse project and Mother and Toddler project are suspended, pending resolution. - 14 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**16**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
March 2023 are
represented by:
Tangible assets
13,566
-
Current assets/
(liabilities)
185,963
8,047
199,529
8,047|**Total**Unrestricted
funds
Restricted
funds
**2023**
2022
2022
**£**
£
£
13,566
7,675
-
194,010
202,612
11,531
207,576
210,287
11,531|Total
2022
£
7,675
214,143
221,818| |---|---|---| ## **17 Related party transactions** There were no disclosable related party transactions during the year (2022 - none) . - 15 -