**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 2024** ## **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|| ||Mr R A Geary|(Appointed 15 August 2024)| |**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 2024**_ The trustees present their annual report and financial statements for the year ended 31 March 2024. 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. ## _Public benefit_ 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** ## _Significant activities and achievements against objectives_ During 2023/4 the Trust worked through teams of British volunteers and in partnership with other charitable organisations. It paid a small number of UK part-time workers and contractors when volunteers could not be recruited, and occasionally paid for services in the countries of its operations. 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 the needy in Romania and the Philippines. It does not pay professional fund-raisers. Its founders’ long focus on Nicaragua has now necessarily extended to other countries in similar need. The Trustees have continued to find ways to bring relief to the poorest of Nicaraguan society, despite the shutdown of its partner organisation there. Our ability to transfer funds directly to Nicaragua has been restricted, but some new partner organisations have expanded their operations to include projects sponsored by us. This approach has delivered renewed progress – a water and sanitation project in remote villages, and purchase of school uniforms and provision of some computer equipment to a Bluefields school, for example. Some work on Ometepe is supported by the Trust, helping an expanding group of schools around Urbaite. We also continued to support a children's feeding programme. The Trust continued its informal partnership with Belief in Action to deliver donated goods in joint truckloads to Romania, and with Gorsley Baptist Church for container shipments to communities in the Philippines. We see this as a way of combining our shipping expertise and operational assets with our partners’ close knowledge of the needs of the destination countries, so as to increase the impact of our joint efforts. ## **Financial review** During the year the Charity had incoming resources of £79,689 (2023: £106,795). At the end of the year the Charity had unrestricted reserves of £206,873 (2023: £199,529). The Trust’s income mainly comes from personal donations, from the net earnings of its charity shop in Ross-onWye, and occasional fund-raising events. The trustees are monitoring the finances of the Trust 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 Trust 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. - 1 - THE PEACE & HOPE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Struthrni govemance and managemwrt The Pea￿ and Hope Twst is a company linNted by guarantee arml is a UK registered thanty. The trustees. who are also the directors for the purpose of o)mpany law, and served during the year and up to the date of signature of the finanaal ststements were: Mr JAllan Mrs A Cruz Roque MrA Crawft)rd Mrslnd Mr v￿llIaM Hanks (Chair) Ms R Gibbin$ MrRAGeary (Appointed 15 A￿ust 2024) RecmitnRnt and 8ppointn7ent of Irustees The trustees a￿ appointed having regard lo the speafic skills requirpd for the govemarKe of the Trust. Given the size of the Trust, the trustees nsider that they have a suitable range of expwience for the governan￿ of the Trust. The majority of the trustees have been involved with adivibes of the Trust for some years and are familiar Nvth the history and operation of the Trust. New trustees have an appropriate irKI￿tIOn programme. but are also likely to be familiar with the work of the Trust before becoming trustees. Oryanisational stnKture Day to day de(ision5 a￿ entrusted to the Chief Exe(Xrt1￿ and a small team of volunteer managers - to cover. for example. the staffing of the Trusys shop in Ross-on-INye. All strategrc niattets are referred to the full board of trustee5 vtho meet fo￿￿tlY four times a year. None of the trustees has any benefioal interest in the company. All of the trustees are members of the CA)mpany and guarant￿ to contribute £10 in the event of a winding up. The trustees, report was approved by the Board of Trustees. Mrslnd Trustse Iliam Hanks (Chair) Trustee THE PEACE & HOPE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PEACE & HOPE TRUST I report to the trustees on my examination of the financial statements of The Peace & Hope Trusl (the charity) for the year ended 31 March 2024. Responsibilities and basis ot report As the trustees of the charity {and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Aot 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of Ihe 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (Ihe 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515}(b) of the 2011 Act. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual item5 or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence Ihat would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe thal in any material respect.. accounting records were not kept in respect of the char(ty as required by se¢tion 386 of the 2006 Act,. or the financial statements do not accord wilh Ihose records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or the financial Statements have not been prepared in accordance with the melhods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. I have no concern5 and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Francas Wilde FCCA DChA Wamer Wilde Chartered Certified Accountants 4 Marigold Driva Bisley Surrey GU24 9SF Dated: OLLI ## **THE PEACE & HOPE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
42,780
6,053
Charitable activities
**4**
5,327
-
Other trading activities
**5**
22,576
-
Investments
**6**
2,953
-
**Total income**
73,636
6,053
**Expenditure on:**
Raising funds
**7**
7,343
-
Charitable activities
**8**
58,390
9,333
Other expenditure
**12**
-
-
**Total expenditure**
65,733
9,333
**Net income/(expenditure)**
7,903
(3,280)
Transfers between
funds
(559)
559
**Net movement in**
**funds**
**10**
7,344
(2,721)
**Reconciliation of funds:**
Fund balances at 1 April 2023
199,529
8,047
**Fund balances at 31 March**
**2024**
206,873
5,326|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
48,833
50,390
22,430
5,327
2,039
-
22,576
30,445
-
2,953
1,491
-
79,689
84,365
22,430
7,343
9,233
-
67,723
99,030
22,493
-
(9,719)
-
75,066
98,544
22,493
4,623
(14,179)
(63)
-
3,421
(3,421)
4,623
(10,758)
(3,484)
207,576
210,287
11,531
212,199
199,529
8,047|**Total**
**2023**
**£**
72,820
2,039
30,445
1,491
106,795
9,233
121,523
(9,719)
121,037
(14,242)
-
(14,242)
221,818
207,576| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - THE PEACE & HOPE TRUST BALANCE SHEEr AS AT31 AIARCH 2024 2024 2023 Fixed assets Tangible assets 15 11.765 13,566 Debtors Cash at bank and in hand 16 2.059 200,137 1.515 195.362 202.196 196.8TT Creditor6: amounts falllng due vthin one year 17 (1.762) (2.867) 200.434 194.010 Total as80ts18s8 current Ilabilitles 212.199 207.576 The funds of the charity 18 19 5.326 206.873 8.047 199.529 Unrestiicted funds 212.199 207,578 The company is entiued to ts eXernpti￿ fmm requirem￿ (x)nIal￿ in sedion 477 of Corrpanies Act 2006, for the year ended 31 March 2024. The diredors ar*nO￿ge their responskbilities for complying with the requirements of the Col￿anIeS Act 2006 accordartt wilh secaion 476. These financial slateff*nts have been wepared in aCCc￿dance y￿1h the pThigons arWi(xble to mpanies regime. Mrslnd Iliam nks (Chair) Company registrati(m number 605￿5 (ErKJlaTKI and Wales) ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **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 amounts 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 or grantors 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 2024**_ ## **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 2024**_ ## **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 amount 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 Income from donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
42,780
5,553
Grants
-
500
42,780
6,053|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
48,333
50,390
20,330
500
-
2,100
48,833
50,390
22,430|**Total**
**2023**
**£**
70,720
2,100| |---|---|---| |||72,820| - 8 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **4 Income from charitable activities** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||**Charitable activities**||| ||Sale of goods|5,327|2,039| |**5**|**Income from other trading activities**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||Shop income|22,576|30,445| |**6**|**Income from investments**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||Interest receivable|2,953|1,491| |**7**|**Expenditure on raising funds**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||**Trading costs**||| ||Operating charity shops|7,343|9,233| - 9 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **8 Expenditure on charitable activities** |||**Charitable**|**Charitable**| |---|---|---|---| |||**activities**|**activities**| |||**2024**|**2023**| |||**£**|**£**| ||**Direct costs**||| ||Depreciation and impairment|1,364|17,279| ||Project costs|60,964|99,580| ||Office|4,021|3,344| |||66,349|120,203| ||**Share of support and governance costs (see note 9)**||| ||Governance|1,374|1,320| |||67,723|121,523| ||**Analysis by fund**||| ||Unrestricted funds|58,390|99,030| ||Restricted funds|9,333|22,493| |||67,723|121,523| |**9**|**Support costs allocated to activities**||| |||**2024**|**2023**| |||**£**|**£**| ||Governance costs|1,374|1,320| ||**Analysed between:**||| ||Charitable activities|1,374|1,320| |||**2024**|**2023**| ||**Governance costs comprise:**|**£**|**£**| ||Independent Examiers fees|1,374|1,320| |||1,374|1,320| |**10**|**Net movement in funds**|**2024**|**2023**| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Depreciation of owned tangible fixed assets|1,364|-| ||Impairment of owned tangible fixed assets|-|17,279| ||Loss/(profit) on disposal of tangible fixed assets|-|(9,719)| - 10 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **11 Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year, and none (2023- None) received reimbursed expenses (2023- £Nil). ## **12 Other expenditure** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Net loss on disposal of tangible fixed assets|-|(9,719)| ## **13 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **14 Impairments** Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss: ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |In respect of:||| |Property, plant and equipment|-|17,279| - 11 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **15 Tangible fixed assets** |**Cost**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation and impairment**
At 1 April 2023
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023|**Land Computer and**
**office**
**equipment**
**Motor**
**vehicles**
**Total**
**£**
**£**
**£**
**£**
46,231
15,884
32,558
94,673
-
5,454
-
5,454
-
-
(23,170)
(23,170)
46,231
21,338
9,388
76,957
38,556
15,884
26,667
81,107
-
1,364
-
1,364
-
-
(17,279)
(17,279)
38,556
17,248
9,388
65,192
7,675
4,090
-
11,765
7,675
-
5,891
13,566|**Land Computer and**
**office**
**equipment**
**Motor**
**vehicles**
**Total**
**£**
**£**
**£**
**£**
46,231
15,884
32,558
94,673
-
5,454
-
5,454
-
-
(23,170)
(23,170)
46,231
21,338
9,388
76,957
38,556
15,884
26,667
81,107
-
1,364
-
1,364
-
-
(17,279)
(17,279)
38,556
17,248
9,388
65,192
7,675
4,090
-
11,765
7,675
-
5,891
13,566| |---|---|---| |||65,192| |||11,765| |||13,566| More information on the impairment arising in the year is given in note 14. The Trust continues to hold a truck (fully written-down) in the UK for its warehouse and shop activities. |**16**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**17**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2024**
**£**
-
2,059
2,059
**2024**
**£**
1,762|**2023**
**£**
869
646| |---|---|---| |||1,515| |||**2023**
**£**
2,867| - 12 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **18 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**At**
Moringa Project
Mother & Child Development
Centre
Carolyn Gibbs
Warehouse project
Tim Sharpe
Medical
**Previous year:**
**At**
Moringa Project
Mary Anne Vocational Centre
Mother & Child Development
Centre
Carolyn Gibbs
Warehouse project
Tim Sharpe
Casa Rahab
Land transport
Valeria's House
Medical|**1 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31 March**
**2024**
**£**
**£**
**£**
**£**
**£**
736
-
-
-
736
120
-
(120)
-
-
(78)
5,053
(5,534)
559
-
7,137
-
(3,047)
-
4,090
-
500
(500)
-
-
132
500
(132)
-
500
8,047
6,053
(9,333)
559
5,326
**1 April**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31 March**
**2023**
**£**
**£**
**£**
**£**
**£**
736
-
-
-
736
4,294
1,735
(1,763)
(4,266)
-
552
360
-
(792)
120
(1,188)
8,647
(8,725)
1,188
(78)
7,137
-
-
-
7,137
-
497
(945)
448
-
-
150
(150)
-
-
-
1,500
(1,500)
-
-
-
8,941
(8,942)
1
-
-
600
(468)
-
132
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 2024**_ ## **18 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. ## **19 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**| |---|---|---|---|---|---| ||**2023**|**resources**|**expended**||**2024**| ||**£**|**£**|**£**|**£**|**£**| |General funds|199,529|73,636|(65,733)|(559)|206,873| |**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**| ||**2022**|**resources**|**expended**||**2023**| ||**£**|**£**|**£**|**£**|**£**| |General funds|210,287|84,365|(98,544)|3,421|199,529| - 14 - ## **THE PEACE & HOPE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **20 Analysis of net assets between funds** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 March 2024:**
Tangible assets
7,675
4,090
Current assets/(liabilities)
199,198
1,236
206,873
5,326
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**At 31 March 2023:**
Tangible assets
13,566
-
Current assets/(liabilities)
185,963
8,047
199,529
8,047|**Total**
**2024**
**£**
11,765
200,434| |---|---| ||212,199| ||**Total**
**2023**
**£**
13,566
194,010| ||207,576| ## **21 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 15 -