REGISTERED COMPANY NUMBER: 06241692 {England nd Wales) REGISTERED CHARITY NUMB Chaitered Accountants Report of the Trustees and Audited Financial Statemonts for the Year Ended 31 May 2024 for Vita New Hope Ltd (formerly New Hope Limited) Radnoi House Greenwood Close Coiclill Gote Business Pork Card￿ff CF23 8PA BPU Limited Chartered Accountants Statutory Auditor Radnor House Greenwood Close Cardiff Gate Business Park Cardiff CF23 8AA In Ihe UK ond i*ultslÈd loi ts long9 1ne Insii1Ul* ol cfbQrtfjtÈdACCOun1￿1s in Ervglor¢ onowoles. bpu ChoiieiedACCOunlonlS IS 0 Iiodiw nome ol BPU LI(Y cC￿pa￿ Nvmboi 3723948 A IISI Of ditgctois Is OVQibUe the reg1ste￿d oflice abovè. business potential unleashed Vita New Hope Ltd (formerly New Hope Limited) Contents of the Financial Statements for the Year Ended 31 May 2024 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 18 Detailed Statement of Financial Activities 19 to 20 Vita New Hope Ltd (formerly New Hope Limited) Report of the Trustees for the Year Ended 31 May 2024 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 May 2024. 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). OBJECTIVES AND ACTIVITIES Objectives and aims Maximisation of support to the developing world in order to achieve the goals set out in the mission statement. Mission statement.. The relief of the sicklpoor living in the developing world in particular Africa.This is to be achieved either generally or individually through the provision of grants, goods or services in particular, but not limited to the provision of education, purification of water and medical aid. Significant activities An overview of our activities and initiatives during the year is as follows: New Hope was set up in 2007 to provide funding for projects that would relieve the suffering of communities in developing countries and in particular Africa. This year the main recipient of these grantsl donations is Vita (RTI) Limited. ACHIEVEMENT AND PERFORMANCE Fundraising activities The fundraising activities of the charity and donations have resulted in a surplus for the year of £31,421 (2023 £34,745 deficit) after making donations to Vita (RTI) Limited during the year of £110,000 (2023 £nil}. Last year £28,200 was donated to Mercy Ships UK totalling £28,200, and £2,000 was donated to the Ukraine Appeal, none this year. Donation to Vita (RTI) Ltd This donation was to invest in climate smart communities in Africa at the bequest of the donor. Investment performance The charity invests surplus funds for the short term as it is mindful of the possible need to access these funds due to economic climate. These funds are intended to be held at a level so as to ensure continuing financial support for its charitable projects even with a downturn in trade. FINANCIAL REVIEW Principal funding sources The funding sources for carrying out the charity's objectives, is the receipt of donations. Vita New Hope Ltd (formerly New Hope Limited) Report of the Trustees for the Year Ended 31 May 2024 FINANCIAL REVIEW Reserves policy The charity continues to endeavour to increase and safeguard its income in order to finance the objectives of the charity. To ensure adequate reserves are in place to fulfil the charity's objectives significant emphasis has been placed on controlling costs. This will remain in place for the foreseeable future. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Related parties The charity works closely with Vita (RTI) Ltd for their work in Africa. During the year Vita (RTI) Ltd became the sole member of Vita New Hope Ltd. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06241692 (England and Wales) Registered Charity number 1122262 Registered office Broadway House Upper Clifton Street Cardiff CF24 1 PU Trustees P F Lindsay C H George Company Secretaries P F Lindsay C H George Auditors BPU Limited Chartered Accountants Statutory Auditor Radnor House Greenwood Close Cardiff Gate Business Park Cardiff CF23 8AA Vita New Hope Ltd (formerly New Hope Limited) Report of the Trustees for the Year Ended 31 May 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Vita New Hope Ltd (formerly New Hope Limited) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Approved by.. y order of the board of trustees on 31.. YloJ 20 and signed on its behalf P F Lindsay - Trustee Report of the Independent Auditors to the Trustees of Vita New Hope Ltd (formerly New Hope Limited) Chartered Accountants Opinion We have audited the financial statements of Vita New Hope Ltd (formerly New Hope Limited) (the 'charitable company,) for the year ended 31 May 2024 which comprise the statement of Financial Activities, the Balance Sheet and notes to the financiali statements, including a summary of significant accounting policies. The financial: reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 May 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK), (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance, with the ethical requirements that are relevant to our audit of the financial statements in, the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ftadnor House Greenwood Close Caidill Gole Business Polk Coidlll CF23 8A4 Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of th going concern basis of accounting in the preparation of the financial statements is, appropriate. Based on the work we have performed, we have not identified any materia uncertainties relating to events or conditions that, individually or collectively, may cas significant doubt on the charitable company's ability to continue as a going concern fo a period of at least twelve months from when the financial statements are authorised foè issue. Our responsibilities and the responsibilities of the trustees with respect to going concer are described in the relevant sections of this report. Reg151eieé locorry(￿ oudil Y￿rk Ihe In51ilLrte olChOrteiÈdACCOuiltant& In EngkJna ond Woies bpu c￿llerEd AttOuntonlS Is o Iiodiw r￿)￿01 epu Ll Cotnpony Number 3723948 fteg151@i@O Invlaks. lsieied ollice tsto￿. business potential unleashed Report of the Independent Auditors to the Trustees of Vita New Hope Ltd (formerly New Hope Limited) Chaflered Accountants Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othemise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Ilfiatters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements. or the charitable company has not kept adequate accounting records., or the financial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audit. Radnoi Hou Greenwood Close Cardiff Gole Business Polk Caidlll CF23 8M Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that I they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting i unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 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