HOPE HOUSE PROJECTS UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 **HOPE HOUSE PROJECTS FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **DIRECTORS** Mr A Adegbenro Mr O Arosanyin Mrs E Vieira ## **REGISTERED OFFICE** Hope House 35 Acregate Little Digmoor Skelmersdale West Lancashire WN8 9LX ## **COMPANY REGISTERED NUMBER** 05477912 ## **ACCOUNTANTS** Accounts Direct Management Accountants 43-45 North Street, Manchester, M8 8RE ## **CONTENTS** Pages 2 Directors' Report 3 Profit and Loss Account 4 Balance Sheet 5-9 Notes to the Financial Statements The following do not form part of the statutory financial statements: 10 Trading and Profit and Loss Account 11-12 Profit and Loss Account Summaries page 1 **HOPE HOUSE PROJECTS DIRECTORS' REPORT FOR THE YEAR ENDED 30 JUNE 2022** The directors present their report and the financial statements of the company for the year ended 30 June 2022. ## **PRINCIPAL ACTIVITIES** ## **DIRECTORS** The directors who served during the year were as follows: C (appointed 1 Dec) Mr O Arosanyin Mrs E Vieira ## **SMALL COMPANY EXEMPTIONS** This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. This report was approved by the board on 29 March 2023 and signed on their behalf. Signed T Adegbenro page 2 **HOPE HOUSE PROJECTS PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2022** ||**Note**||**2022**||**_2021_**| |---|---|---|---|---|---| ||||**£**||**_£_**| |**TURNOVER**|2||||| |Continuing operations|||**79,976**||_66,208_| |Cost of sales|3||**15,916**||_7,951_| |**GROSS PROFIT**|||**64,060**||_58,257_| |Net operating expenses|3||**70,167**||_46,884_| |**OPERATING (LOSS)/PROFIT**|4||||| |Continuing operations|||**(6,107)**||_11,373_| |Interest payable and similar charges|5||**-**||_(111)_| |**(LOSS)/PROFIT ON ORDINARY ACTIVITIES**|**BEFORE**||||| |**TAXATION**|||**(6,107)**||_11,262_| |Tax on ordinary activities|6||**-**||_-_| |**(LOSS)/PROFIT FOR THE FINANCIAL YEAR**||**£**|**(6,107)**|_£_|_11,262_| The company made no recognised gains and losses other than those reported in the profit and loss account. The notes on pages 5-9 form part of these financial statements page 3 **HOPE HOUSE PROJECTS** Company registered number: 05477912 **BALANCE SHEET AT 30 JUNE 2022** |**Note**
**FIXED ASSETS**
Tangible assets
7
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
**CREDITORS: Amounts falling due within one year**
10
**NET CURRENT ASSETS**
**NET ASSETS**
**CAPITAL AND RESERVES**
Profit and loss account
12
**SHAREHOLDERS FUNDS**|**2022**
**_2021_**
**£**
**£**
**_£_**
**355,204**
_359,470_
**1,800**
_1,800_
**357,004**
_361,270_
**5,314**
_4,859_
**1,367**
_3,663_
**6,681**
_8,522_
**1,015**
_1,015_
**5,666**
_7,507_
**362,670**
**£**
_368,777_
_£_
**362,670**
_368,777_
**362,670**
**£**
_368,777_
_£_|**_2021_**
**_£_**
_359,470_
_1,800_| |---|---|---| |||_361,270_| |||_4,859_
_3,663_| |||_8,522_
_1,015_| |||_7,507_| In approving these financial statements as directors of the company we hereby confirm the following: For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. ## Directors' responsibilities: 1) The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with section 476 of the Companies Act 2006. 2) the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. ## **The accounts were approved by the board of directors on 29 March 2023** T Adegbenro, Director The notes on pages 5-9 form part of these financial statements page 4 **HOPE HOUSE PROJECTS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2022** ## **1. ACCOUNTING POLICIES** ## **1a. Basis of accounting** The financial statements have been prepared under the historical cost convention. ## **1b. Tangible fixed assets** Land and building are shown at original historical cost or subsequent valuation as set out in the note. Other fixed assets are shown at cost. Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery Reducing balance 25% Vehicles Reducing balance 25% Fixtures and fittings Reducing balance 15% Equipment Reducing balance 15% ## **1c. Investments** Fixed asset investments are shown at cost less amounts written off. Provisions are made for temporary fluctuations in value. ## **1d. Taxation** Corporation tax payable is provided on taxable profits at the current rate. ## **1e. Turnover** Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business. ## **1f. Cash flow statement** The company has taken advantage of the exemption in Financial Reporting Standard No.1 from producing a cash flow statement on the grounds that it is a small company. ## **2. TURNOVER** page 5 ## **HOPE HOUSE PROJECTS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022** ## **3. COST OF SALES AND NET OPERATING EXPENSES** |||||**2022**|||**_2021_**| |---|---|---|---|---|---|---|---| |||||**£**|||**_£_**| ||Cost of sales|£||15,916|_£_||_7,951_| ||Net operating expenses:||||||| ||Distribution costs|||4,047|||_2,805_| ||Administrative expenses|||63,951||_59,507_|| ||Depreciation|||4,865|||_6,211_| ||Other operating income|||(2,696)||_(21,639)_|| |||£|70,167||_£_|_46,884_|| |**4.**|**OPERATING (LOSS)/PROFIT**||||||| |||||**2022**|||**_2021_**| |||||**£**|||**_£_**| ||(Loss)/Profit on ordinary activities is stated||||||| ||after charging:||||||| ||Depreciation and amortisation||||||| ||Tangible assets: owned|||4,865|||_6,211_| ||and after crediting:||||||| ||Other operating income|||591|||_-_| ||Grants receivable|||-||_10,000_|| ||Furlough income|||2,105|||_11,639_| |**5.**|**INTEREST PAYABLE AND SIMILAR CHARGES**|||**2022**|||**_2021_**| |||||**£**|||**_£_**| ||On bank loans, overdrafts and other loans||||||| ||Repayable within five years, not by instalments|||-|||_111_| ||||£|-||_£_|_111_| ## **6. TAX ON (LOSS)/PROFIT ON ORDINARY ACTIVITIES** There is no taxation liability on the result on ordinary activities. page 6 ## **HOPE HOUSE PROJECTS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022** ## **7. TANGIBLE FIXED ASSETS** |||||**Plant &**|**Plant &**|**Fixtures &**|**Fixtures &**|||| |---|---|---|---|---|---|---|---|---|---|---| ||||**Freehold**|**Machinery**||**Equipment**||||**Total**| ||||**£**||**£**||**£**|||**£**| ||**Cost**|||||||||| ||At 01 July 2021||337,700||10,000||21,990||369,690|| ||Additions||-||-||599|||599| ||At 30 June 2022||337,700||10,000||22,589||370,289|| ||**Depreciation**|||||||||| ||At 01 July 2021||-||2,500||7,720||10,220|| ||For the year||-||1,875||2,990|||4,865| ||At 30 June 2022||-||4,375||10,710||15,085|| ||**Net Book Amounts**|||||||||| ||At 30 June 2022|£|337,700|£|5,625|£|11,879|£|355,204|| ||At 30 June 2021|£|337,700|£|7,500|£|14,270|£|359,470|| |**8.**|**FIXED ASSET INVESTMENTS**|||||||||| ||||||||**Other**|||| |||||||**investments**||||| |||||||**Other than**||||| ||||||||**loans**|||**Total**| ||||||||**£**|||**£**| ||**Cost or valuation**|||||||||| ||At 01 July 2021||||||1,800|||1,800| ||At 30 June 2022||||||1,800|||1,800| ||**Amounts written off**|||||||||| ||At 30 June 2022||||||-|||-| ||**Net Book Amounts**|||||||||| ||At 30 June 2022||||||1,800
£||£|1,800| ||At 30 June 2021||||||1,800
£||£|1,800| page 7 **HOPE HOUSE PROJECTS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022** |**9.**|**DEBTORS**|||**2022**||||**_2021_**| |---|---|---|---|---|---|---|---|---| |||||**£**||||**_£_**| ||Social security and other taxes|||1,435||||_658_| ||Other debtors|||3,879||||_4,201_| ||||£|5,314|||_£_|_4,859_| |**10.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||| |||||**2022**||||**_2021_**| |||||**£**||||**_£_**| ||Other creditors|||1,015||||_1,015_| ||||£|1,015|||_£_|_1,015_| |**11.**|**SHARE CAPITAL**|||**2022**||||**_2021_**| |||||**£**||||**_£_**| ||Allotted, issued and fully paid:|||||||| |**12.**|**RECONCILIATION OF RESERVES**|||||||| |||||||||**Profit**| |||||||||**& loss**| ||||||||**account**|| |||||||||**£**| ||At 01 July 2021|||||||368,777| ||Loss for the year|||||||(6,107)| ||At 30 June 2022|||||£||362,670| |**13.**|**RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS**|||||||| |||||**2022**||||**_2021_**| |||||**£**||||**_£_**| ||(Loss)/Profit for the financial year|||(6,107)||||_11,262_| ||Dividends|||-||||_-_| |||||(6,107)||||_11,262_| ||Net addition to shareholders' funds|||(6,107)||||_11,262_| ||Opening shareholders' funds||368,777|||||_357,515_| ||Closing shareholders' funds|£|362,670||_£_|||_368,777_| page 8 **HOPE HOUSE PROJECTS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022** ## **14. TRANSACTIONS WITH AND LOANS TO DIRECTORS** ## **Loans to directors** |Included in other debtors are loans to directors. They are unsecured, interest free and repayable on demand.|Included in other debtors are loans to directors. They are unsecured, interest free and repayable on demand.|| |---|---|---| ||**2022**|**_2021_**| ||£|_£_| |Directors current account|3,879|_4,201_| page 9 ## **HOPE HOUSE PROJECTS TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2022** |**Turnover**
Cost of sales:
Purchases
Other direct expenses
Gross profit
Other income
Less:
Distribution costs
Selling and marketing costs
Administrative expenses
Depreciation and amortisation
Net (loss)/profit for the year before taxation
Net (loss)/profit for the year after taxation
Retained profits brought forward
Retained profits carried forward|**2022**
**£**
**£**
79,976
15,916
-
15,916
15,916
64,060
2,696
66,756
4,043
4
63,951
4,865
72,863
(6,107)
(6,107)
368,777
362,670
£|**_2021_**
**_£_**
**_£_**
_66,208_
_7,651_
_300_
_7,951_
_7,951_
_58,257_
_21,639_
_79,896_
_2,749_
_56_
_59,618_
_6,211_
_68,634_
_11,262_
_11,262_
_357,515_
_368,777_
_£_| |---|---|---| This page does not form part of the Company's Statutory Financial Statements and is prepared for the information of the Directors only. page 10 ## **HOPE HOUSE PROJECTS PROFIT AND LOSS ACCOUNT SUMMARIES FOR THE YEAR ENDED 30 JUNE 2022** |||**2022**||**_2021_**| |---|---|---|---|---| |||**£**||**_£_**| |**Other direct expenses**||||| |Other direct expenses||-||_300_| ||£|-|_£_|_300_| |**Other income**||||| |Sundry income||591||_-_| |Grants receivable||-||_10,000_| ||£|591|_£_|_10,000_| |**Distribution costs:**||||| |Freight out, carriage, packing||4,043||_2,749_| ||£|4,043|_£_|_2,749_| |**Selling and marketing costs:**||||| |Advertising & sales promotion||1||_9_| |Travel & subsistence||3||_47_| ||£|4|_£_|_56_| This page does not form part of the Company's Statutory Financial Statements and is prepared for the information of the Directors only. page 11 ## **HOPE HOUSE PROJECTS PROFIT AND LOSS ACCOUNT SUMMARIES FOR THE YEAR ENDED 30 JUNE 2022** |||**2022**||**_2021_**| |---|---|---|---|---| |||**£**||**_£_**| |**Administrative expenses:**||||| |Rent payable||18,399||_14,719_| |Rates||(320)||_105_| |Water rates||401||_1,004_| |Light and heat||1,332||_2,742_| |Building Repairs & Maintenance||210||_890_| |Gross Wages||19,540||_24,798_| |PAYE||728||_235_| |NIC employer||212||_-_| |Training & Development||13,715||_1,374_| |Computer costs||339||_2,210_| |Petrol||2,323||_1,224_| |Motor expenses||838||_150_| |Accountancy||672||_828_| |Professional Fees||-||_1,466_| |Insurance||2,270||_1,972_| |Cleaning||-||_11_| |Postage||6||_195_| |Printing||18||_-_| |Stationery & office supplies||28||_54_| |Telephone, Broadband, etc||1,236||_1,093_| |Website & Hosting||661||_2,239_| |Sundry expenses||293||_54_| |Subscriptions||209||_209_| |Charitable contributions||-||_1,251_| |Card charges||841||_521_| |Bank overdraft interest||-||_111_| ||£|63,951|_£_|_59,455_| |**Depreciation and amortisation:**||||| |Depreciation of vehicles||1,875||_2,500_| |Depreciation of fixtures & fittings||256||_302_| |Depreciation of equipment||835||_877_| |Depreciation of motors||1,899||_2,532_| ||£|4,865|_£_|_6,211_| This page does not form part of the Company's Statutory Financial Statements and is prepared for the information of the Directors only. page 12