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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 05903490 (England and Wales) REGISTERED CHARITY NUMBER: 1121334

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Open Hands Trust (Leicester)

The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP

Open Hands Trust (Leicester)

Contents of the Financial Statements for the Year Ended 31 December 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 24
Detailed Statement of Financial Activities 25 to 26

Open Hands Trust (Leicester)

Reference and Administrative Details for the Year Ended 31 December 2021

TRUSTEES D H Bennett (Teacher) Mrs S E Hind (Church Leader) Rev D Hind (Minister Of Religion) C Jewitt (HR Manager) Rev B C Niblock (Minister Of Religion) (resigned 13.9.21) C Gardiner (Director) J M Saker REGISTERED OFFICE 53 Upper Tichborne Street Highfields Leicester Leicestershire LE2 1GL REGISTERED COMPANY NUMBER 05903490 (England and Wales)

REGISTERED CHARITY NUMBER 1121334

INDEPENDENT EXAMINER The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP

Page 1

Open Hands Trust (Leicester) Report of the Trustees for the Year Ended 31 December 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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 published in October 2019.

OBJECTIVES AND ACTIVITIES Objectives and aims

Vision

We long to meet the present and future needs of those suffering poverty.

Mission

Values

We believe:

Key Activities

Open Hands provides practical help, skills training, mentoring, advice and volunteering opportunities to those facing financial hardship and/or social disadvantage in Leicester.

The charity received 'The Queen's Award for Voluntary Service' thanks to the hard work of 120 volunteers and its Compassion Centre has received over 100,000 visits since it opened its doors in 2009.

Public benefit

For the main activities undertaken to further the charity's purposes for the public benefit, the trustees have had regards to Charities Commission guidance on public benefit.

Page 2

Open Hands Trust (Leicester) Report of the Trustees for the Year Ended 31 December 2021

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Due to the impact of COVID-19, the charity quickly adapted its services to respond to the growing needs in the city and provided over 80,000 emergency meals through its services from April-December alone - this equates to 21.5 tons of food and a retail equivalent value of over £35,000. The charity's food bank received 29% more visits in 2020 than it saw the year previous. The charity also offered an affordable food service as an 'add-on' to those taking steps towards independent living.

The charity also launched a free 'Emergency Click and Collect' service to enable those requiring further practical assistance the opportunity to request a wider range of items (such as clothing, toiletries or bedding) - items could be 'ordered' online by a referral partner and were then picked and packed ready for collection.

The charity's furniture project continued to partner with the 'Leicestershire and Rutland Re-use Network' (LRRNN) in delivering a Leicester City Council tender to provide furniture to eligible Community Support Grant (CSG) holders. The project also launched a new scheme providing washing machines to local families in need thanks to a new partnership with The School Development Support Agency (SDSA).

'Hand in Hand Preschool' continues to offer good quality nursery education through its two early years settings located in Highfields and Braunstone in Leicester.

The Trust's coffee shop, '6 Degrees Coffee House', also continued to deliver its services through its trading subsidiary 'Compassion In Action' (Company Number: 10587115) when government guidelines allowed. All profits continue to be invested into the charity's work.

Case Studies

A recipient of one of our food parcels through Covid-19 commented:

"You are all doing a wonderful and unique [job]. Every day you are helping, supporting and motivating a lot of people who are in real need. I would like to thank you from my heart, not only for food but also for the way you deal with us. You are lovely, smiley, and very friendly. You are keeping us all moving forward."

At Christmas we helped to furnish the property of a man who had just been released from prison. The man had only a bed to sleep on and no other possessions; he was living out of a bag and kept everything on his bed as the floor was soaking wet. We were able to help the man through our furniture project. The furniture team revisited the man's property a few weeks after our initial delivery in order to install a washing machine. Our furniture project manager commented that "what had previously been an empty box now felt like a home". The man was so happy to show the team around and said that he'd been recommending others in need to come to Open Hands for help!

A participant on our last 'Emerge' self-esteem course rung their mentor this year to update us on their situation. The participant, who was an ex-offender, had been up and down in their mood when we first met them back in 2019 but was now sounding much more happy and confident. The individual told us that they were now back in employment and had thought to contact Open Hands as they wanted us to know how much our support through the course had meant to them. It is amazing to think that even 12 months on our guests still think of us and continue to put what we've taught them into action.

Page 3

Open Hands Trust (Leicester) Report of the Trustees for the Year Ended 31 December 2021

One of our English class students said:

"I heard about the English Classes through a friend who was helped by Open Hands with clothes and food... The classes are so good and the teachers support us so much. They've helped me to improve my language and I have made so many friends here too - it's like a community, a big family to be a part of."

FINANCIAL REVIEW

Reserves policy

The Trustees have adopted a reserves policy which requires 3 months of expenditure, of approximately £38,000, to be held in unrestricted reserves. This will allow the Charity to continue to operate for a minimal period of time should income reduce. The Trustees recognise that the current cash reserves are not at the required levels and will work towards increasing these during 2022. The value of the reserves will be monitored on a regular basis in the light of current giving levels, expenditure and annually as part of the budget process.

The accounts on pages 7 to 18 summaries the income and expenditure during the year ended 31 December 2021 and the state of the charities affairs as at 31 December 2021.

In the year to 31 December 2021 total income was £597,954 (2020 - £496,525) and total expenditure was £414,892 (2020 - £341,308).

The Trust is grateful to have received support from the following funders & trusts this year:

Page 4

Open Hands Trust (Leicester)

Report of the Trustees for the Year Ended 31 December 2021

FINANCIAL REVIEW - continued

The charity is appreciative of its ongoing partnership with Pukka Pies, Asda, Sainsbury's, Co-op and Hastings Direct. The Trust is also grateful for regular support from Trinity Life Church, Knighton Evangelical Free Church, Kingsgate Community Church, Avenue Community Church, St. Wilfrid's Church (Kibworth), Living Rock Church, Bethel Evangelical Free Church, Fleckney New Life Church, Life Abundant Pentecostal Church and St. Catherine's Church (Houghton-on-the-Hill) amongst many other local organisations and supporters.

The charity is particularly appreciative of the support of many individuals and organisations who supported our building project in 2021, enabling us to move to our new premises.

FUTURE PLANS

Over the next 12 months Open Hands Trust aims:

To continue to meet the needs of those who are vulnerable or at risk of homelessness in Leicester.

To equip individuals with skills and advice that help them to become more financially resilient.

To launch a social supermarket to support individuals and families facing food insecurity.

To expand the capacity of the charity to continue to deliver and develop its projects post-lockdown.

We are grateful to all the Trust's staff, volunteers, partners, donors and supporters who enable the charity's work to continue to make a positive difference to the lives of those it serves.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is incorporated as a company limited by guarantee and is governed by the company's Memorandum and Articles of Association in August 2006.

Recruitment and appointment of new trustees

At the first Annual General Meeting all of the directors will retire, in future one third of the trustees retire by rotation of longest serving. Appointment of new trustees can be from retiring trustees or individuals showing an interest in the work of the charity, who are willing to serve and have appropriate gifts.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 15 July 2022 and signed on its behalf by:

Rev D Hind - Trustee

Page 5

Independent Examiner's Report to the Trustees of Open Hands Trust (Leicester)

Independent examiner's report to the trustees of Open Hands Trust (Leicester) ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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

  4. the accounts have not been prepared in accordance with the methods 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 Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns 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 accounts to be reached.

Mr R J Radford FCA ICAEW The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP

Date: 15 July 2022

Page 6

Open Hands Trust (Leicester)

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
82,409
Charitable activities
4
Hand in Hand Pre-School
-
Open Hands
4,716
Investment income
3
-
Total
87,125
EXPENDITURE ON
Charitable activities
5
Hand in Hand Pre-School
-
Open Hands
93,796
Support costs
11,727
Total
105,523
NET INCOME/(EXPENDITURE)
(18,398)
Transfers between funds
18
322,291
Net movement in funds
303,893
RECONCILIATION OF FUNDS
Total funds brought forward
50,808
TOTAL FUNDS CARRIED FORWARD
354,701		 Restricted
funds
£
320,983
189,764
-
82
510,829
208,328
82,805
18,236
309,369
201,460
(322,291)
(120,831)
180,461
59,630		 31.12.21
31.12.20
Total
Total
funds
funds
£
£
403,392
268,137
189,764
224,901
4,716
3,450
82
37
597,954
496,525
208,328
183,933
176,601
135,887
29,963
21,488
414,892
341,308
183,062
155,217
-
-
183,062
155,217
231,269
76,052
414,331
231,269

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 7

Open Hands Trust (Leicester) (Registered number: 05903490)

Balance Sheet 31 December 2021

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
13
345,219
Investments
14
1
345,220
CURRENT ASSETS
Debtors
15
8,621
Cash at bank and in hand
30,264
38,885
CREDITORS
Amounts falling due within one year
16
(29,404)
NET CURRENT ASSETS
9,481
TOTAL ASSETS LESS CURRENT LIABILITIES
354,701
NET ASSETS
354,701
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
94,794
94,794
(35,164)
59,630
59,630
59,630		 31.12.21
Total
funds
£
345,219
1
345,220
8,621
125,058
133,679
(64,568)
69,111
414,331
414,331
354,701
59,630
414,331		 31.12.20
Total
funds
£
2,644
1
2,645
39,044
208,200
247,244
(18,620)
228,624
231,269
231,269
50,808
180,461
231,269

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

Open Hands Trust (Leicester) (Registered number: 05903490)

Balance Sheet - continued 31 December 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 15 July 2022 and were signed on its behalf by:

D Hind - Trustee

The notes form part of these financial statements

Page 9

Open Hands Trust (Leicester)

Cash Flow Statement for the Year Ended 31 December 2021

31.12.21
Notes
£
Cash flows from operating activities
Cash generated from operations
1
272,860
Net cash provided by operating activities
272,860
Cash flows from investing activities
Purchase of tangible fixed assets
(356,084)
Interest received
82
Net cash (used in)/provided by investing activities
(356,002)
Change in cash and cash equivalents
in the reporting period
(83,142)
Cash and cash equivalents at the
beginning of the reporting period
208,200
Cash and cash equivalents at the end
of the reporting period
125,058		 31.12.20
£
153,969
153,969
-
37
37
154,006
54,194
208,200

The notes form part of these financial statements

Page 10

Open Hands Trust (Leicester)

Notes to the Cash Flow Statement for the Year Ended 31 December 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.12.21 31.12.20
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 183,062 155,217
Adjustments for:
Depreciation charges 13,509 10,113
Interest received (82) (37)
Decrease/(increase) in debtors 30,423 (22,007)
Increase in creditors 45,948 10,683
Net cash provided by operations 272,860 153,969
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.21 Cash flow At 31.12.21
£ £ £
Net cash
Cash at bank and in hand 208,200 (83,142) 125,058
208,200 (83,142) 125,058
Total 208,200 (83,142) 125,058

The notes form part of these financial statements

Page 11

Open Hands Trust (Leicester) Notes to the Financial Statements for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Open Hands Trust (Leicester) is a private company limited by guarantee registered in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements

The financial statements contain information about Open Hands Trust (Leicester) as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

It is policy that monies received relating to building and capital projects are transferred to unrestricted funds once the building works and projects have been achieved.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 12

Open Hands Trust (Leicester) Notes to the Financial Statements - continued for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors are stated at transaction price.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and cash on deposit.

Investments

The investment in the wholly owned subsidiary, Compassion in Action Leicester Limited, is included at cost.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

continued...

Page 13

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

2. DONATIONS AND LEGACIES

3. INVESTMENT INCOME

INVESTMENT INCOME
31.12.21 31.12.20
£ £
Deposit account interest 82 37

Of total income from investments £Nil (2020: £Nil) was unrestricted and £82 (2020: £37) was restricted.

4. INCOME FROM CHARITABLE ACTIVITIES

Hand in Hand pre-school
Open Hands		 31.12.21
£
189,764
4,716
194,480		 31.12.20
£
224,901
3,450
228,351

5. CHARITABLE ACTIVITIES COSTS

Hand in Hand Pre-School
Open Hands
Support costs		 Direct
Costs (see
note 6)
£
208,328
176,601
-
384,929		 Support
costs (see
note 7)
£
-
-
29,963
29,963		 Totals
£
208,328
176,601
29,963
414,892

continued...

Page 14

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

6. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Charitable Givings
Small furniture & repairs
Catering costs
Crafts & resources
Rent
Insurance
Toys & books
Sundries
Stationery, postage & telephone
Staff expenses
Professional fees
Catering, consumables and sundries
Light & heat
Repairs & renewals
Covid adaptations		 31.12.21
£
264,021
6,014
1,146
665
3,289
58,658
1,401
3,858
1,090
996
2,063
2,047
23,655
8,146
7,880
-
384,929		 31.12.20
£
232,954
372
1,257
449
893
49,000
1,380
1,769
359
826
3,102
1,180
11,310
4,384
5,308
5,277
319,820

7. SUPPORT COSTS

UPPORT COSTS
Governance
Finance Other costs Totals
£ £ £ £
Support costs 928 26,635 2,400 29,963

8. NET INCOME/(EXPENDITURE)

The total fee paid to the independent examiner was £2,400 (2020- £1,483) which was for the independent examination.

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

continued...

Page 15

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 31.12.21
£
244,015
8,976
11,030
264,021		 31.12.20
£
216,606
7,008
9,340
232,954

The average monthly number of employees during the year was as follows:

31.12.21 31.12.20
Open Hands 6 4
Hand in Hand Pre-School 12 12
18 16
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 58,807 209,330 268,137
Charitable activities
Hand in Hand Pre-School - 224,901 224,901
Open Hands 3,450 - 3,450
Investment income - 37 37
Total 62,257 434,268 496,525
EXPENDITURE ON
Charitable activities
Hand in Hand Pre-School - 183,933 183,933
Open Hands 29,509 106,378 135,887
Support costs 10,793 10,695 21,488
Total 40,302 301,006 341,308

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 16

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
funds
£
£
NET INCOME
21,955
133,262
Transfers between funds
(5,000)
5,000
Net movement in funds
16,955
138,262
RECONCILIATION OF FUNDS
Total funds brought forward
33,853
42,199
TOTAL FUNDS CARRIED FORWARD
50,808
180,461		 Total
funds
£
155,217
-
155,217
76,052
231,269

continued...

Page 17

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

12. ANALYSIS OF INCOME AND EXPENDITURE

Open Hands
Income
Total giving including Gift Aid
Income from subsidiary
Grants
Income from charitable activities
Investment income
Expenditure
Project costs
Staff costs
Property costs
Travel & transport costs
Office costs
Professional fees & bank charges
Surplus - Open Hands
Hand in Hand
Income
Fee income
Fee income re Covid-19
Investment income
Expenditure
Running costs
Charitable givings
Staff costs
Travel & transport costs
Property costs
Office costs
Deficit - Hand in Hand		 31.12.21
£
23,556
105,528
45,488
6,385
6,300
19,171
206,428
14,225
6,014
158,493
135
27,200
2,397
208,464		 31.12.21
£
333,828
9,276
60,288
4,716
29
408,137







201,709
189,764
-
53
189,817







(18,647)		 31.12.20
£






11,381
83,142
40,116
5,070
3,836
13,830
157,375





7,428
372
149,812
115
24,000
2,206
183,933
 31.12.20
£
149,577
8,786
109,774
3,450
20
271,607
114,232
199,019
25,882
17
224,918
40,985

continued...

Page 18

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

13. TANGIBLE FIXED ASSETS

Improvements
to
property
£
COST
At 1 January 2021
-
Additions
341,963
At 31 December 2021
341,963
DEPRECIATION
At 1 January 2021
-
Charge for year
8,416
At 31 December 2021
8,416
NET BOOK VALUE
At 31 December 2021
333,547
At 31 December 2020
-		 Plant and
machinery
£
34,835
6,457
41,292
32,191
3,424
35,615
5,677
2,644		 Fixtures
and
fittings
£
10,002
7,664
17,666
10,002
1,669
11,671
5,995
-		 Motor
vehicles
£
22,661
-
22,661
22,661
-
22,661
-
-		 Totals
£
67,498
356,084
423,582
64,854
13,509
78,363
345,219
2,644

14. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKET VALUE
At 1 January 2021 and
31 December 2021 1
NET BOOK VALUE
At 31 December 2021 1
At 31 December 2020 1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

continued...

Page 19

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

14. FIXED ASSET INVESTMENTS - continued

Compassion in Action Leicester Limited (Company Number 10587115)

Registered office: United Kingdom

Nature of business: Restaurant And Café

%
Class of share: holding
Ordinary 100
31.12.21 31.12.20
£ £
Aggregate capital and reserves 21,576 11,250
Profit for the year 19,602 8,928
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£ £
Trade debtors - 283
Other debtors 4,760 769
Prepayments and accrued income 3,861 37,992
8,621 39,044
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£ £
Trade creditors 20,520 11,732
Social security and other taxes 2,679 3,174
Other creditors - 2,106
Accruals and deferred income 41,369 1,608
64,568 18,620
17. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21 31.12.20
£ £
Within one year 30,917 17,000
Between one and five years 133,667 3,000
In more than five years 172,708 -
337,292 20,000

continued...

Page 20

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

18. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.21 in funds funds 31.12.21
£ £ £ £
Unrestricted funds
General fund 50,808 (18,398) 322,291 354,701
Restricted funds
Hand in Hand 67,481 (18,647) (15,677) 33,157
Big Lottery 1,901 1,963 (3,864) -
Open Hands building 75,416 238,141 (289,860) 23,697
Affordable Food Shop 5,035 (2,346) (2,689) -
Gift of a Wish 3,937 (2,837) - 1,100
Love Your Neighbour 25,302 (15,101) (10,201) -
Western Power 750 (750) - -
Asda food 639 (639) - -
Asda Clothing - 1,000 - 1,000
VAL Safe Communities - 676 - 676
180,461 201,460 (322,291) 59,630
TOTAL FUNDS 231,269 183,062 - 414,331
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 87,125 (105,523) (18,398)
Restricted funds
Hand in Hand 189,817 (208,464) (18,647)
Big Lottery 33,981 (32,018) 1,963
Open Hands building 254,185 (16,044) 238,141
Affordable Food Shop - (2,346) (2,346)
Gift of a Wish 722 (3,559) (2,837)
Love Your Neighbour 24,714 (39,815) (15,101)
Western Power - (750) (750)
Asda food - (639) (639)
Sainsbury Neighbourly 500 (500) -
Asda Clothing 1,000 - 1,000
VAL Safe Communities 4,985 (4,309) 676
Judge Meadow 625 (625) -
Cycle Challenge 300 (300) -
510,829 (309,369) 201,460
TOTAL FUNDS 597,954 (414,892) 183,062

continued...

Page 21

Open Hands Trust (Leicester)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Hand in Hand
Big Lottery
Open Hands fixed assets
Open Hands building
Affordable Food Shop
Gift of a Wish
Love Your Neighbour
Western Power
Asda food
TOTAL FUNDS		 At 1.1.20
£
33,853
26,496
-
5,666
10,037
-
-
-
-
-
42,199
76,052		 Net
movement
in funds
£
21,955
40,985
1,901
(5,666)
60,379
5,035
3,937
25,302
750
639
133,262
155,217		 Transfers
between
funds
£
(5,000)
-
-
-
5,000
-
-
-
-
-
5,000
-		 At
31.12.20
£
50,808
67,481
1,901
-
75,416
5,035
3,937
25,302
750
639
180,461
231,269

continued...

Page 22

Open Hands Trust (Leicester) Notes to the Financial Statements - continued for the Year Ended 31 December 2021

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Hand in Hand
Big Lottery
Open Hands fixed assets
Open Hands building
Leicestershire and Rutland
Coronavirus Support Fund
National Lottery Community Fund
Affordable Food Shop
Screwfix Grant
Asda toiletries grant
Gift of a Wish
Love Your Neighbour
Western Power
Asda food
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
62,257
(40,302)
21,955
224,918
(183,933)
40,985
33,497
(31,596)
1,901
-
(5,666)
(5,666)
61,559
(1,180)
60,379
5,277
(5,277)
-
48,005
(48,005)
-
19,249
(14,214)
5,035
3,246
(3,246)
-
500
(500)
-
7,180
(3,243)
3,937
29,187
(3,885)
25,302
750
-
750
900
(261)
639
434,268
(301,006)
133,262
496,525
(341,308)
155,217

Hand in Hand

The charity received funds to assist with the operating of the pre-school.

Big Lottery

The charity received funds from the National Lottery specifically to assist with supporting the compassion and support centre.

Open Hands Building

The charity has funds held that are specifically to assist with facilitating warehousing.

National Lottery Community Fund

The charity received funds from the National Lottery specifically to assist with supporting the compassion and support centre.

Affordable Food Shop

Grant funding to assist with the setting up of our social supermarket.

Gift of a Wish

Grant from the Vichai Srivaddhanaprabha Foundation for Christmas hampers and meal.

Love Your Neighbour (LYN)

continued...

Page 23

Open Hands Trust (Leicester) Notes to the Financial Statements - continued for the Year Ended 31 December 2021

18. MOVEMENT IN FUNDS - continued

The charity received funds towards emergency meal provision, debt advice and employment support.

Asda Clothing

Grant from Asda for the provision of clothing.

Voluntary Action Leicestershire (VAL) Safe Communities

Grant from VAL to make our classrooms safer post Covid.

Transfer

Transfers were made from restricted funds to unrestricted funds where the expense had been incurred through the general fund. Furthermore, where funds relate to capital projects, the policy is to make a transfer to unrestricted funds once the capital spend has taken place.

19. RELATED PARTY DISCLOSURES

During the year £3,000 (2020: £2,353) of donations were received without conditions from trustees.

Two of the trustees also serve on Trinity Life Church (Registered Charity No. 1051884) and during the year Open Hands Trust (Leicester) received £108,411 (2020 - £7,000) donation from this charity. Also during the year costs of £14,983 (2020 - £21,380) have been recharged from Trinity Life Church in relation to administration and accounts costs.

Donations received in the year from the subsidiary, Compassion in Action Leicester Limited, totalled £9,276 (2020 - £8,786). The charity leases a property at an annual cost of £19,000 (2020 - £15,500) and formally sub-lets it to the subsidiary company for the same amount.

Page 24

Open Hands Trust (Leicester)

Detailed Statement of Financial Activities for the Year Ended 31 December 2021

31.12.21 31.12.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Givings 317,352 143,715
Gift aid 16,476 5,862
Income from subsidiary 9,276 8,786
Grants 60,288 109,774
403,392 268,137
Investment income
Deposit account interest 82 37
Charitable activities
Hand in Hand pre-school 189,764 224,901
Open Hands 4,716 3,450
194,480 228,351
Total incoming resources 597,954 496,525
EXPENDITURE
Charitable activities
Staff salaries 244,015 216,606
Social security 8,976 7,008
Pensions 11,030 9,340
Charitable Givings 6,014 372
Small furniture & repairs 1,146 1,257
Catering costs 665 449
Crafts & resources 3,289 893
Rent 58,658 49,000
Insurance 1,401 1,380
Toys & books 3,858 1,769
Sundries 1,090 359
Stationery, postage & telephone 996 826
Staff expenses 2,063 3,102
Professional fees 2,047 1,180
Catering, consumables and sundries 23,655 11,310
Light & heat 8,146 4,384
Repairs & renewals 7,880 5,308
Covid adaptations - 5,277
384,929 319,820

This page does not form part of the statutory financial statements

Page 25

Open Hands Trust (Leicester)

Detailed Statement of Financial Activities for the Year Ended 31 December 2021

31.12.21 31.12.20
£ £
Support costs
Finance
Bank charges 928 825
Other
Insurance 1,871 1,663
Postage and stationery 4,429 2,173
Sundries 180 13
Repairs & renewals 6,646 5,218
Depreciation of tangible fixed assets 13,509 10,113
26,635 19,180
Governance costs
Independent examination 2,400 1,483
Total resources expended 414,892 341,308
Net income 183,062 155,217

This page does not form part of the statutory financial statements

Page 26