Unaudited Financial Statements Hope House Projects Fortheyearended 30 June 2023 ## **Contents** - **3** Directory - **4** Client Approval - **5** Accountants' Report - **6** Profit and Loss - **8** Balance Sheet - **9** Notes to the Financial Statements - **11** Depreciation Schedule 8 May 2024 Page 2 of 11 Unaudited Financial Statements Hope House Projects ## **Directory** ## **Hope House Projects For the year ended 30 June 2023** ## **Trustees** Anthony Adegbenro Soji Arosanyin Elaine Vieira ## **Registered Office** Unit 77 Cariocca Business Park 2 Sawley Road Manchester M40 8BB England ## **Charity Registration Number** ## _**1125559**_ ## **Accountants** Accounts Direct Limited Management Accountants 43-45 North Street, Manchester M8 8RE 8 May 2024 Page 3 of 11 Unaudited Financial Statements Hope House Projects ## **Client Approval** ## **Hope House Projects For the year ended 30 June 2023** In accordance with the engagement letter, I approve the financial information which comprises the Profit and Loss account, the Balance Sheet and the related notes. I acknowledge my responsibility for the financial information, including the appropriateness of the applicable financial reporting framework as set out in the notes, and for providing Accounts Direct Limited with all information and explanations necessary for their compilation. ................................................. Anthony Adegbenro Soji Arosanyin Elaine Vieira 8 May 2024 ## **Principal Activities** The principal activities continued to be not-for-profit charitable activities. 8 May 2024 Page 4 of 11 Unaudited Financial Statements Hope House Projects ## **Accountants' Report** ## **Hope House Projects For the year ended 30 June 2023** In accordance with our terms of engagement, we have prepared for your approval the financial information of Hope House Projects for the period ended 30 June 2023 from the entity's accounting records and from information and explanations you have given us. Accounts Direct Limited have approved the financial information for the period ended 30 June 2023 and have acknowledged responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation. Signature: S.Englander Name: Steven Englander On behalf of Accounts Direct Limited 43-45 Street, Manchester M8 8RE 8 May 2024 8 May 2024 Page 5 of 11 Unaudited Financial Statements Hope House Projects ## **Profit and Loss** ## **Hope House Projects** ## **For the year ended 30 June 2023** |**Profit and Loss**
**Hope House Projects**
**For the year ended 30 June 2023**|**Profit and Loss**
**Hope House Projects**
**For the year ended 30 June 2023**| |---|---| |**NOTES**
**2023**
**2022**|| |**Sales**|| |Charity Income
126,496
80,567|| |Furlough income
-
2,105|| |**Total Sales**
**126,496**
**82,672**
**Cost of Sales**|| |Purchases
34,488
15,916|| |**Total Cost of Sales**
**34,488**
**15,916**|| |**Gross Profit**
**92,007**
**66,756**
**Expenses**|| ||**Establishment Expenses**| ||Light, Power, Heating
1,766
1,332| ||Rent and rates
-
(320)| ||Repairs & Maintenance
1,498
210| ||**Total Establishment Expenses**
**3,265**
**1,222**
**Staff Costs**| ||Staff Training
-
13,715| ||Wages & Salaries
26,846
19,540| ||**Total Staff Costs**
**26,846**
**33,255**
**Legal and Professional Fees**| ||Audit & Accountancy Fees
-
672| ||Consulting
1,739
-| ||**Total Legal and Professional Fees**
**1,739**
**672**
**Finance Charges**| ||Bank Fees
56
-| ||**Total Finance Charges**
**56**
**-**
**General Administration**| ||Advertising & Marketing
4,154
1| ||Card charges
-
841| ||Depreciation Expense
3,870
4,865| ||Freight out, carriage, packing
-
4,043| ||General Expenses
-
293| ||Insurance
553
2,270| ||IT Software And Consumables
136
339| ||Motor Vehicle Expenses
473
838| ||PAYE
-
940| ||Petrol
1,944
2,323| ||Postage, Freight & Courier
22
6| ||Printing & Stationery
-
46| 8 May 2024 Page 6 of 11 Unaudited Financial Statements Hope House Projects Profit and Loss ||**NOTES**
**2023**
**2022**| |---|---| ||| ||Rent payable
-
18,399| ||Subscriptions
177
209| ||Telephone & Internet
465
1,236| ||Travel and subsistence
126
3| ||Water rates
780
401| ||Website & Hosting
-
661| ||**Total General Administration**
**12,698**
**37,714**
**Interest Payable**| ||Interest Paid
1,323
-| ||**Total Interest Payable**
**1,323**
**-**
**Investments**| ||Interest Income
29
-| ||**Total Investments**
**29**
**-**| ||**Total Expenses**
**45,899**
**72,863**| |**Net Profit (Loss)**
**46,109**
**(6,107)**|| 8 May 2024 Page 7 of 11 Unaudited Financial Statements Hope House Projects ## **Balance Sheet** ## **Hope House Projects As at 30 June 2023** |**Balance Sheet**
**Hope House Projects**
**As at 30 June 2023**|||| |---|---|---|---| ||**NOTES**|**30 JUN 2023**|**30 JUN 2022**| |**Fixed Assets**|||| |Tangible assets|2|444,718|360,667| |**Total Fixed Assets**||**444,718**|**360,667**| |**Current assets**|||| |Debtors||-|455| |**Total Current assets**||**-**|**455**| |**Creditors: amounts falling due withinone year**|||| |Other creditors||16,285|2,653| |**Total Creditors: amounts falling due within one year**||**16,285**|**2,653**| |**Net current assets (liabilities)**||**(16,285)**|**(2,198)**| |**Total assets less current liabilities**||**428,433**|**358,469**| |**Creditors: amounts falling due after more than one year**|||| |Bank loans and overdrafts||2,000|-| |**Total Creditors: amounts falling due after more than one year**||**2,000**|**-**| |**Net Assets**||**426,433**|**358,469**| |**Capital**|||| |Capital account|3|426,433|358,469| |**Total Capital**||**426,433**|**358,469**| 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._ Director's Responsibilities: 1. 1) The members have not required the company to obtain an audit of it's financial statements for the year ended 2023 in accordance with section 476 of the Companies Act 2006. 2. 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. 8 May 2024 Page 8 of 11 Unaudited Financial Statements Hope House Projects ## **Notes to the Financial Statements** ## **Hope House Projects For the year ended 30 June 2023** ## **1. Accounting Policies** ## **Basis of preparing the financial statements** The financial statements have been compiled on a basis which enables profits to be calculated in accordance with generally accepted accounting practice and which provides sufficient and relevant information to enable the completion of a tax return. ## **Turnover** Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. ## **Tangible fixed assets** Depreciation is provided, at the following annual rates in order to write off each asset over its estimated useful life. - Plant & Machinery: Reducing Balance (RB) 25% - Motor Vehicles: Reducing Balance (RB) 25% - Computer Equipment: Reducing Balance (RB) 25% - Fixtures & Fittings: Reducing Balance (RB) 15% - Office Equipment: Reducing Balance (RB) 15% - Leasehold Improvements: Reducing Balance (RB) 15% - Buildings: Straight Line (SL) 2.5% ## **Stocks and work in progress** Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. ## **Intangible Assets** Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight-line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. ## **Investments** Fixed asset investments are stated at cost less any provision for diminution in value. ## **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. 8 May 2024 Page 9 of 11 Unaudited Financial Statements Hope House Projects Notes to the Financial Statements |**2023**
**2022**|**2023**
**2022**|**2023**
**2022**| |---|---|---| |**2. Tangible Assets**||| ||**Motor vehicles**|| |||**Cost**| |||Opening Balance
20,128
20,128| |||**Total Cost**
**20,128**
**20,128**
**Depreciation**| |||Opening Balance
(8,806)
(5,032)| |||Less Accumulated Depreciation On Motor Vehicles
(2,831)
(3,774)| |||**Total Depreciation**
**(11,637)**
**(8,806)**| ||**Total Motor vehicles**
**8,492**
**11,322**
**Office equipment**|| |||**Cost**| |||Opening Balance
11,716
11,862| |||Computer Equipment
-
(745)| |||Office Equipment
-
599| |||**Total Cost**
**11,716**
**11,716**
**Depreciation**| |||Opening Balance
(5,534)
(5,188)| |||Less Accumulated Depreciation On Computer Equipment
(745)
-| |||Less Accumulated Depreciation On Fixtures & Fittings
(218)
(256)| |||Less Accumulated Depreciation On Office Equipment
(76)
(90)| |||**Total Depreciation**
**(6,573)**
**(5,534)**| |||**Total Office equipment**
**5,144**
**6,183**| ||**Total Tangible Assets**
**13,635**
**17,505**
**2023**
**2022**|| |||| |**3. Capital Account**||| ||**Capital**|| ||Opening Balance
358,469
364,576|| ||Current year earnings
46,109
(6,107)|| ||Members' Loan Account
21,855
-|| ||**Total Capital**
**426,433**
**358,469**|| ||**Total Capital Account**
**426,433**
**358,469**|| 8 May 2024 Page 10 of 11 Unaudited Financial Statements Hope House Projects ## **Depreciation Schedule** ## **Hope House Projects For the year ended 30 June 2023** |**NAME**|**COST**|**OPENING VALUE**|**PURCHASES**|**DISPOSALS**|**DEPRECIATION**|**CLOSING VALUE**| |---|---|---|---|---|---|---| |**Computer Equipment**||||||| |Computer Equipment|4,967|-|4,967|-|745|4,222| |**Total Computer Equipment**|**4,967**|**-**|**4,967**|**-**|**745**|**4,222**| |**Fixtures & Fittings**||||||| |Fixture & Fitting|1,452|-|1,452|-|218|1,234| |**Total Fixtures & Fittings**|**1,452**|**-**|**1,452**|**-**|**218**|**1,234**| |**Motor Vehicles**||||||| |Motor Vehicle|11,322|-|11,322|-|2,831|8,492| |**Total Motor Vehicles**|**11,322**|**-**|**11,322**|**-**|**2,831**|**8,492**| |**Office Equipment**||||||| |Office Equipment|509|-|509|-|76|433| |**Total Office Equipment**|**509**|**-**|**509**|**-**|**76**|**433**| |**Total**|**18,250**|**-**|**18,250**|**-**|**3,870**|**14,380**| 8 May 2024 Page 11 of 11 Unaudited Financial Statements Hope House Projects