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← Hope For Justice

2024-03-31-accounts

Company number: 6563365 Charity Number: 1126097 Charity registered in Scotland No: SC045769

Hope for Justice

Report and financial statements For the year ended 31 March 2024

Hope for Justice

Contents

For the year ended 31 March 2024

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditors' report ........................................................................................................ 17 Consolidated Statement of financial activities (incorporating income and expenditure) ............... 18 Balance sheets .............................................................................................................................. 19 Consolidated statement of cash flows ........................................................................................... 20 Notes to the financial statements ................................................................................................. 21

Hope for Justice

Reference and administrative information

For the year ended 31 March 2024

Company number 6563365 Charity number 1126097 Registered office Hope for Justice 30 Old Bailey London England EC4M 7AU Trustees Trustees who are also directors under company law, who served during the year and up to the date of this report were as follows:

R Camp (Chair) resigned 4 April 2024 A Gibson ** resigned 6 September 2024 C Almond resigned 19 May 2023 E Ajayi ** *** S Illingworth resigned 18 January 2024 K Westfall appointed 31 January 2024, resigned 25 October 2024 A Donnell * (Chair) appointed 14 July 2023 C Hayden appointed 1 June 2023, resigned 18 March 2024 A Williams ** appointed 17 August 2023 J Bourne ** appointed 2 September 2023 B Bracewell *** appointed 31 January 2024 N Becker ** appointed 24 May 2024 S Booth * appointed 24 May 2024 M Brock appointed 6 September 2024

Within the management team, the Key Management Personnel are as follows: Chief Executive Officer

Chief Financial Officer

International Operations Director International Development Director International Programme Director Head of Digital & Communications

Chief Strategy Officer

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Hope for Justice

Reference and administrative information

For the year ended 31 March 2024

Bankers HSBC CAF Bank City Branch 25 Kings Hill Avenue Park Row West Malling Leeds Kent LS11LD ME19 4JQ Auditors Forvis Mazars LLP Statutory Auditor 5[th] Floor 3 Wellington Place Leeds LS1 4AP

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Hope for Justice

Trustees’ annual report

For the year ended 31 March 2024

The trustees of Hope for Justice present their report and audited financial statements of the charitable company and its subsidiary companies for the year ended 31 March 2024 which, together, form the Hope For Justice Group.

The list of entities that are consolidated within these are accounts are (more information in Note 11):

Hope for Justice - UK Slave-Free Alliance Ltd - UK No More Slaves Ltd UK (Dormant) Hope for Justice International – UK (Dormant) Hope for Justice AS – Norway Slave Free Alliance AS - Norway Hope for Justice Inc. – USA (including operations in Cambodia) Slave Free Alliance Inc - USA OK200:Stop The Traffic – USA Lilypad Haven - USA Retrak – UK Hope For Justice Ethiopia Hope For Justice Uganda The Tigers Club Project Limited – Uganda Hope for Justice Australia Limited – Australia Slave Free Alliance Australia Limited – Australia Hope for Justice Hong Kong No More Traffik Limited

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The trustees regularly review the aims, objectives and activities of the charitable Group. This report looks at what the Group has achieved and the outcomes of its work in the reporting year. The trustees report the success of each key activity and the benefits the Group has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the Group's aims, objectives and activities remained focused on its stated purposes.

In setting plans and priorities for areas of work, the Trustees have regard to the guidance from the Charity Commission on the provision of public benefit and the Group meets the definition of a public benefit entity under FRS 102. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

The principal activities are:

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Hope for Justice

Trustees’ annual report

For the year ended 31 March 2024

Through its activities, Hope for Justice provides public benefit in the following areas:

Although many of Hope for Justice’s activities are complex and span a number of its objectives, Hope for Justice

summarises its activities under four broad headings.

Programmatic outcomes

This year, our work reached 146,656 people. A record proportion of our reach figure this year was Direct service provision to beneficiaries (61,727 people, or 42%). Examples of Direct reach include people removed from exploitation, served at our Lighthouses or through our Advocacy or RISE initiatives, professionals given intensive training and those participating in our Self-Help Groups. Indirect reach includes family members of our beneficiaries who indirectly benefitted from our work, those attending community anti- trafficking awareness and education events, and those reached through online and virtual outreach sessions. Some specific highlights of our impact and reach in 2023-24 include:

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Hope for Justice

Trustees’ annual report

For the year ended 31 March 2024

New mission statement

This year, Hope for Justice launched a refreshed mission statement and a revised explanation of who we are and what we do. We want it to be immediately clear why we are in this fight against modern slavery, and for everyone to understand the ambition at the heart of our movement. This is Hope for Justice’s new mission statement: Together, we are bringing freedom from human trafficking and modern slavery by identifying victims, supporting survivors and preventing exploitation.

What does ‘bringing freedom’ mean to us? It means people living free from exploitation, and free from the fear of being exploited. It means survivors having the power, agency and opportunity to make choices about their own future, living in dignity. It means safer communities in which vulnerability to human trafficking is transformed into resilience. It means improving the response, partnering with other agencies and civil society, while standing with survivors to create a world in which everyone can live free from slavery.

As part of this ambition, we run our programmes and projects around the world in line with five core principles. First, we are human rights-based, meaning that we protect and promote human rights as codified in international human rights instruments, in all aspects of our work. We empower vulnerable people, victims, and survivors of slavery to realise their human rights and hold duty-bearers such as governments and businesses accountable.

Secondly, our programmes are person-centred and community-based. Because of this, we work for the best possible outcomes for our clients and beneficiaries, addressing the unique and sensitive needs of the individuals, families, and communities most affected by slavery. Our responses are informed by the voices of survivors and the active participation of local stakeholders.

Our next programme principle is that we work holistically: we take an end-to-end approach to the survivor journey, addressing the root causes and drivers of slavery, situations of slavery, and the consequences of slavery. We augment our impact by strengthening the rule of law and reforming legislation, policy, practice, knowledge, institutional structures and social norms, at all levels of society.

Fourthly, we work in collaboration with partners to reach more people affected by slavery. Working in partnership allows us to better support locally led initiatives, achieve better value for money, learn from partners, maintain operational agility, access diverse resources, and influence wider change through networks and collective advocacy. Finally, we commit to leaving a meaningful, long-term legacy – our programmes must be sustainable. Through holistic programme delivery, viable funding models, collaborative partnerships, and structural reform, we maintain, extend and sustain our impact, long after our work has ended.

Our Programmes in more detail

Our Programmes are context dependent. This means that we run different Programmes in different places, based on factors including the local circumstances, availability of funding, and the evidence base for different kinds of interventions. We ensure all of our work is in accordance with our overall Theory of Change. Among the active programmes we ran during 2023-24 were:

Outreach

Our trained outreach workers engage with potential and actual victims of trafficking in their own spaces, to offer services, help and advice. We also signpost them to further support. The aim is to identify and get to know potential victims of trafficking or exploitation on the streets or wherever they may be found, and build trusting relationships between them and the outreach worker. This improves their safety and security, and by raising awareness of available services, it can lead a potential victim to take a decision that changes their circumstances. For example, in the Ethiopia and Uganda, children who need protection can join one of our Lighthouse shelters. Outreach activities can also be an opportunity to engage with community organisations, businesses, the authorities, and law enforcement to help the whole community to be more proactive in protecting those who are at risk.

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For the year ended 31 March 2024

Investigations and victim identification

We work directly and indirectly with victims and survivors of trafficking to support them at the beginning of their journey towards their preferred outcome of recovery and safety. This is unique to the individual, but usually will first focus on someone being identified as a victim through outreach, community engagement, training, referrals, or (in the U.S. specifically) through work by our specialist licensed investigators. Then we seek to help the person to find an exit from their situation, whether through physical removal from a location (where appropriate, and usually alongside law enforcement); placement into a temporary shelter or supported housing; or, in Ethiopia/Uganda, entry into our Lighthouse programme. We also act as an alternative pathway out of exploitation for victims too scared to engage with police, or unable to for another reason.

Transitional care – children (Lighthouses)

Our Lighthouses provide trauma-informed care and support for children who have faced exploitation or been intensely at risk of exploitation. They are kept safe from the dangers of the streets or their previous exploitation while we work to assess their physical, mental and emotional health and their circumstances. Our Lighthouses offer safe shelter, nutritious food, therapy, catch-up education, employment skills, and the chance for positive development and socialisation through play and friendship.

Family reintegration – children (Lighthouses)

While children are being cared for at our Lighthouses, we work to trace their families when possible, and consider how best to safely return them back home, or to family-based care. Reintegration to biological or extended families is best, but only if they can provide safe care and where any risk of re-exploitation is low, as assessed by our social workers. The child must be an active participant in the decision. In some circumstances we try to strengthen the family’s resilience to trafficking through help with income- generating activities. Where family reintegration is unsafe or impossible, other options include supported independent living combined with vocational and business skills training. In the years since launching this work, an average of 96% of reintegrated children have still been with safe families at their one-year follow-up. Independent advocacy and survivor case work – adults

Our RISE Programme (Restore, Inspire, Strengthen, and Empower), based at our North Carolina Regional Center, is an integrated suite of services to improve the wellbeing, safety and self-sufficiency of survivors in the region through traumainformed care and support, community engagement and comprehensive case management. We offer short- term care to meet emergency needs for up to 60 days. Long-term care under RISE is community- based, helping a survivor over the course of a year, plus follow-up services. We prioritise their rights, safety, wellbeing, needs and wishes in a traumainformed way, using evidence-based and well-credentialled treatment plans. In the UK, our Independent Modern Slavery Advocates (IMSAs) take a holistic approach and are a single point of trust, advocating for survivors during the process of recovery. Knowledge of the services available and survivor entitlements mean our IMSAs can help survivors to access housing, financial support, employment opportunities, psychological help, advice with their documentation and legal status and more. We guide them through the criminal and civil justice processes and ensure their voice is heard to shape their own future.

Training

We offer accredited training to people and organisations who may encounter victims and survivors of modern slavery, via instructor-led sessions or online courses that can be completed at any time via our Learning Academy. We offer basic awareness training for the public and longer, in-depth courses focusing on specific issues for practitioners and professionals. It is particularly relevant for anyone involved in policing and law enforcement; central or local government; healthcare and social work; or non-governmental work in the community, such as food banks, drop-in centres, community organisations and outreach, and those working with at-risk people.

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For the year ended 31 March 2024

Policy and reform

Our direct work with victims and survivors informs our work on national and international policy reform and legislative engagement. This involves initiating and strengthening legislation, policy, practices, standards, structures, knowledge, beliefs and behaviour across the societies where we work. Just a few examples of this work during 2023-24 are:

Suppress and Punish Trafficking in Persons. We focused on the need for collaboration and the role of civil society working with governments on holistic approaches to prevention, identification and survivor support, referencing the UK Independent Modern Slavery Advocacy model and new approaches to perpetrator accountability. We also spoke on the Migrant Smuggling Protocol, on the need for legal avenues for protection and effective frameworks for safe and legal migration.

• Contributed to an International Criminal Court consultation on slavery crimes policy, aimed at increasing the effectiveness of the Office of the Prosecutor in investigating and prosecuting crimes of enslavement under the Rome Statute.

• Attended the OSCE International Conference on Preventing Trafficking in Human Beings, focusing on identifying and assisting victims amid refugee flows from Ukraine. We delivered a side event with Unseen about the “Ukrainians Welcome” website, launched jointly by multiple NGOs.

Community prevention

Our community prevention programmes in Uganda and Ethiopia strengthen families, communities and systems to prevent children being trafficked, exploited or enslaved. We seek to tackle root causes, such as poverty, lack of knowledge about trafficking and unsafe migration, peer pressure on children to abandon their families to seek new opportunities, and attitudes where children are seen as economic assets. Examples of our community prevention programmes:

• Self-Help Groups: A fixed group of participants (usually women) who meet weekly and empower themselves financially and socially through pooled savings and loans, training in effective parenting, child protection, anti-trafficking, communication and other skills. A variation is fixed-term Village Savings and Loans Associations (VSLAs) for areas where populations move around a lot, such as urban slums.

• Child Protection Clubs (typically in schools) and Hubs (typically in urban slums): Students or children meet weekly, supervised by a volunteer mentor, to learn about their rights and the dangers of trafficking and unsafe migration and then to educate others through school and community events.

• Community Conversations: Structured discussions between groups affected by complex community problems in Ethiopia. For example, we bring together domestic workers, employers, brokers and community leaders to discuss exploitation, human rights and unsafe migration, and agree changes that benefit all.

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Support functions

Our Programmes are supported by other functions that enable our work to be efficient, safe, legal, with sustainable funding, and with increased public understanding. These functions include MEAL (monitoring, evaluation, accountability, and learning); fundraising and communications; operations, including risk mitigation, IT, and HR; finance; and safety and security.

Awards and recognition

Hope for Justice was named ‘Charity of the Year’ at the prestigious .ORG Impact Awards in November 2023. Hope for Justice was chosen as the winner ahead of almost 1,000 applicants from more than 70 countries. The awards celebrate outstanding mission-driven organisations working to make the world a better place. As well as being named overall Charity of the Year, Hope for Justice was also chosen as the winner of the Diversity, Equity, and Inclusion category. Other awards recognition and success:

society organisation

Slave-Free Alliance

Slave-Free Alliance (SFA) was created by Hope for Justice in April 2018, set up as a social enterprise to work with organisations of all sizes and complexity – from multinational companies, to SME businesses, to build their resilience to modern slavery and labour exploitation, in their own operations and also vitally in their supply chains around the world. Their ambition is to act as a ‘critical friend’ to businesses who are trying to do more in this area.

SFA now has 120 members, of which 16 are constituent businesses of the FTSE 100 index. SFA is a social enterprise that is wholly owned by Hope for Justice, with all profits reinvested in our charitable projects. SFA currently operate in the UK, US and Australia, this enhances our understanding of the localised challenges relating to modern day slavery, which in turn can inform our operational focus within Hope for Justice.

Fundraising

The issue of ethical fundraising remains an area of concern for the public. Hope for Justice does not employ the services of a 3rd party fundraiser and we are committed to ensuring that our own internal practices meet the highest standards. We do not look to approach donors through street or door to door fundraising.

Further detail about our fundraising during the year is included in our Financial Review below.

Hope for Justice is registered with the Fundraising Regulator, whose standards we applaud and work hard to uphold, and we have invested significantly this year to ensure that we comply with General Data Protection Regulation (GDPR) legislation

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which came into force on 23rd May 2018. Hope for Justice is not aware of any failure to comply with the standards and has received no complaints in relation to fundraising activity.

As above Hope for Justice will only contact individuals who have indicated that they are willing to be contacted and this will be in the form of thanking the individual for donating or as an update on our programme activities and current issues surrounding modern slavery. Hope for Justice provides training for all of our fundraising team to know the best approach to donors so they are not put under any unreasonable pressure. During the financial year and to the point of signing these accounts, there have been no complaints received in respect to our fundraising approach.

Financial review

During the year Hope for Justice maintained operations whilst identifying opportunities to reduce expenditure and stream line some of our operations, including the reduction of activity in Hope for Justice Norway. Part way through the year, our key funder for the project in Cambodia encountered financial challenges, and stopped their monthly contribution, without alternative available funding for this specific project we have made the difficult decision to close the operation and entity in Cambodia.

Income in the year ended 31 March 2024 has decreased to £8.17m from last year at £8.52m. We continue to implement fundraising activities, measuring and reviewing our investments in these activities to ensure that we achieve acceptable returns. We continue to have diverse income sources, including monthly and one off giving from individuals and organisations, commitment to multi-year giving businesses, trusts and foundations. The proportion of unrestricted income remains high, giving the trustees the ability to invest in activities, as it deems necessary. In the year to 31 March 2024, unrestricted income represented 66%: (2023: 70.4%:)

We have so many loyal supporters who continue to fund our work. Without you, we would not be able to continue to prevent exploitation, rescue victims, restore lives or reform society. All the successes in this report are a testimony to your generosity and vision. Thank you so much for continuing to trust us to use your generous donations wisely.

Expenditure on charitable activities for the year ended 31 March 2024 has decreased in the year from £8.84m to £6.96m. A further breakdown of expenditure is presented in note 6 to the accounts. Some of the key parts of the reduction is in relation to the cease of operations in Cambodia, closure of a specific project in Ethiopia, and organisation wide cost savings implemented in response to the reduced income expectations.

Expenditure on fund raising activities for the year ended 31 March 2024 decreased from £2.10m to £1.17m. This reduction can be attributed to several strategic measures undertaken by the organisation:

  1. Restructuring of the Team : A thorough restructuring of the fundraising team was carried out, leading to streamlined operations and better alignment of roles and responsibilities. This optimisation not only improved efficiency but also reduced overhead costs.

  2. Improved Cost of Acquisition Campaigns : The organisation implemented more effective and targeted donor acquisition campaigns. By focusing on strategies that yielded higher returns for lower investments, the cost per donor acquisition was significantly reduced, contributing to the overall savings.

  3. Reduction in Paid Services (e.g., Paid Social Media Advertisements) : There was a deliberate effort to minimise

  4. reliance on paid services such as advertisements. By leveraging organic marketing strategies and other cost-

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For the year ended 31 March 2024

effective channels, the organisation was able to cut back on these expenses while maintaining outreach effectiveness.

  1. Budget Refinement, Especially for Creative Asset Production : The production of creative assets underwent a major shift towards in-house development. By reducing dependency on external vendors and agencies, the organisation not only saved on production costs but also gained better control over the creative process.

Other non-charitable activity costs for the same period decreased from £931k to £797k and this is all relating to Slave Free Alliance. Slave-Free Alliance, Hope for Justice’s social enterprise, continues to expand its customer base globally. In the year the SFA companies made a profit before tax of £7k having gifted £338k up to Hope for Justice (2023: £174k). Our focus continues to be on developing new sales to deliver profitability in the medium term and investment in the start-up in Australia. Slave Free Alliance continues as a primary purpose subsidiary and will gift aid any future profits to Hope for Justice.

The result is a deficit for the year of £0.76m (2023: £2.35m deficit) after exchange differences upon consolidation and a decrease in retained reserves, to negative £433k (2023:£330k). The split of these reserves is: General (£1.64m) (2023: £1.29m), designated £0.48m (2023:£0.59m), and restricted £0.76m (2023:£1.02m).

Reserves policy and going concern

Hope for Justice has an approved reserves policy, for retaining at least 3 months overheads a level of readily accessible funds within its unrestricted reserves to mitigate financial and operation risks, ensuring that the work of the charity is sustained with minimal disruption and where necessary to provide short term funding for new projects. The reserves policy and our remaining free reserve show a deficit of £(1.79m) which does not cover any expenditure and thus we are utilising in month receipts. Whilst the initial expectation for the financial year ended 31 March 2024 was to grow overall and general fund reserves, this has been impacted by challenges in the fundraising sector. This is due to several factors, including:

Restricted reserves represent income received but not yet expended in accordance with donors’ wishes. Some restricted donations are given to fund multi-period projects. These are recorded in the period when the donation is received or receivable. Pledges within the US that have restrictions attached are not accounted for until the donation is received. The expenditure from restricted funds is recorded in the period when the funds are used for the restricted purpose. This means that in some accounting periods, there will be significant restricted reserves carried forward to future periods and in some accounting periods, there may be an excess of restricted expenditure over restricted funds received in that period.

The Charity will keep under regular review the level of its reserves and its reserves policy and will review this policy at least annually. The policy is a group wide policy and is applied to total reserves and is not split by geography or legal entity. The Charity will continue to run its finances in an efficient and cost effective manner with the objective of maintaining a budget which is balanced or surplus generating, in addition to striving to maximise the value from Charity expenditures.

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Hope for Justice

Trustees’ annual report

For the year ended 31 March 2024

The trustees recognise the importance of establishing a reserves policy in line with the Charity Commission’s CC19 Charity Reserves: building resilience, and are working closely with the Executive Team to build a healthy reserve as soon as reasonably possible.

The budget and forecasts to 31 March 2025 have been set and agreed on a group basis. Following a change in financial leadership in April 2024, a mid year reforecast has been done, and a decision made to further reduce expenditure in order for the group to return to reasonable levels of reserves in a shorter time frame. These changes have been predominantly implemented in October to December 2024.

The Trustees are of the view that the results for the year to 31 March 2025 will show an underlying cash balance, and in year reserves in excess of £200k. Whilst the budget doesn’t enable us to meet our reserves policy by the year end, we will be in a better position with a realistic view of revenues and reduced expense base, which will enable the rebuild of reserves in year ending 31 March 2026.

The Group has no borrowing facility and meets its day-to-day working capital requirements through careful cash flow management and a mix (as shown in the financial statements) of secured multiyear grants as well as a mix of regular and one off donations from a range of individuals, Trusts & Foundations and Institutions.

Having assessed the circumstances the Trustees have determined there is a degree of uncertainty to raise all the income required to meet all its proposed expenditure and repay current debts. They have determined there is a material uncertainty as to the ability of the group to continue as a going concern for the foreseeable future. However they believe it is appropriate to prepare the financial statements on a going concern basis, given that the financial position has improved marginally over the year to date (2024-25) and a plan is being outworked and monitored monthly as Hope for Justice progress towards a position of rebuilding reserves. The financial statements do not include any adjustments if the group were unable to continue as a going concern.

Plans for the future

Streamlining of group structure.

It is still the intention of the board to move all transactions from Retrak to Hope for Justice UK and for Retrak to become a dormant entity. In addition for both OK200: Stop the Traffik and LiliPad Haven to move all transaction into Hope for Justice Inc. and wind up the legal entities. There has been progress made towards this, with the expectation that these will be complete by the end of March 2026.

Investments

The investment in the social enterprise Slave Free Alliance continues to be a fantastic opportunity for Hope for Justice to move more quickly towards its goal of ending modern day slavery. Slave Free Alliance are now in a surplus generating position which is expected to continue, meaning that it has fully repaid its initial investment from Hope for Justice. The trustees continue to monitor the financial development of Slave Free Alliance to ensure charity funds are wisely invested, and to monitor the efficacy of its work in removing human exploitation from companies’ supply chains.

Structure, governance and management

Constitution

Hope for Justice is a UK company limited by guarantee (company number 6563365), governed by its Memorandum and Articles of Association which were adopted on its incorporation on 11 April 2008 and amended on 15 June 2020. It is

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Hope for Justice

Trustees’ annual report

For the year ended 31 March 2024

registered as a charity with the UK Charity Commission (charity number 1126097), and with the Scottish Charity Regulator (charity number SC045769).

There group subsidiaries are listed at the start of this report and their relationship to the parent, the basis of consolidation, results and reserves are shown in Note 11 to the accounts

Method of appointment or election of trustees

Trustees are appointed by the members for a three year period, after which they retire or opt to be re-elected. New trustees undertake an induction process in order to brief them of their obligations under charity and company law, the structure, activities and processes of the charity and to meet key employees. Trustees are voluntary and receive no remuneration or financial benefit.

Organisational structure and decision making

The trustees approve the strategic direction and the annual budget of the charity and meet at least four times a year. The Chief Executive Officer has responsibility for running the organisation on behalf of the trustees and leads the Executive Team. The Executive team recommends strategy to the trustees and provides day-to-day management, including accountability and oversight in all legal, contractual and financial responsibilities relating to the charity's business.

The trustees are supported by three sub-committees comprised of main trustee board members, special advisers and executives:

During this financial year, All committees met on three occasions and have met after the year-end. The trustee membership of each committee is shown on page 1.

The trustees periodically review the governance and oversight structure to ensure this remains both efficient and effective.

Risk management

The trustees take the identification of operational, financial and reputational risk seriously. The trustees have put in place structures to ensure that the many and varied risks Hope for Justice is exposed to are identified, addressed as appropriate and monitored effectively.

The day-to-day running of the organisation, is tasked to the CEO and the Executive Team. The Executive implement a robust risk identification procedure, which has been refined over a number of years. The Executive Team recognises that risk identification is only as good as the embedding of risk recognition and reporting of our staff, so regular training is provided to reinforce the process. The ultimate outputs from incident reporting are a number of focused risk registers, which are maintained and reviewed on a regular basis. The topic of risk is a standing item on Executive Team meeting

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agendas and it also receives reports from the Trustee Risk and Compliance Sub-Committee, which reviews all the risk registers prepared by the Executive Team in detail.

The most significant risks last year were and continue for the year ahead are:

Global instability and inflation. The ongoing war in Ukraine, along with other conflicts across the globe, have caused many issues over and above the direct impact on the people in the respective countries and the refugees it has created. There is a negative impact on the cost of utilities and certain foods as supply decreases, which has impacted our own cost base as well as the disposable income of many of our donors. Further impacts have been felt more recently with the devaluation of some of our local currencies. The strategy of the Group is continually being reviewed by the Executive team, responding effectively to the challenges that arise.

Income generation. The fundraising sector continues to be challenging, and as such the Executive team have taken the opportunity to draw on external industry expertise in identifying key areas for investment and a restructure of the development team, setting out clear actions to be carried out which aim to strengthen the income raising ability, utilising reporting & forecasting to allow early warnings, so that mitigating actions can be implements as soon as required.

Currency valuations. Affecting both the above risks is currency stability, which could affect reported income or costs (positively or negatively). As our reach grows and our programmes develop we have potential impact of our reporting currency’s valuation against currencies where we have operations, especially where income and costs are in different currencies. Cash balances are held in the main in major currencies (GBP & USD) and remitted in cash to operations as cash requirements demand.

Statement of responsibilities of the trustees

The directors (who are also trustees of the charitable activities for the purpose of charity law) are responsible for preparing the Trustees' annual report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General 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 these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding

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Trustees’ annual report

For the year ended 31 March 2024

the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as the trustees are aware:

Auditors

Forvis Mazars LLP have expressed their willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 6 January 2025 and signed on their behalf by

andy donnell

andy donnell (Jan 6, 2025 14:39 GMT)

A Donnell

Chair

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Independent auditors’ report

To the members of Hope for Justice

Opinion

We have audited the financial statements of Hope For Justice (the ‘parent charity’) and its subsidiaries (‘the group’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Charity Balance Sheet, Consolidated Statement of Cashflows and notes to the financial 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, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 “Auditor’s responsibilities for the audit of the financial statements” section of our report. We are independent of the charity 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.

Material uncertainty relating to going concern

We draw attention to note 1.2 in the financial statements, which indicates that the Group is in a net liability position at 31 March 2024 with net expenditure within the year. The Group is taking steps to address the situation and to generate a surplus going forwards but its ability to continue trading and repay its debts as they fall due will depend on the delivery of this plan. As stated in the note 1.2, these events or conditions, along with the other matters as set forth in note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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.

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 course of the audit, or otherwise 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.

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Independent auditors’ report

To the members of Hope for Justice

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ Responsibilities Statement on page 13, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors 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 directors are responsible for assessing the group’s and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the charity and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: Charities Act 2011, UK tax legislation, anti-bribery, corruption and fraud and money laundering.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

16

Independent auditors’ report

To the members of Hope for Justice

Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as the Companies Act 2006 and the Charities Statement of Recommended Practice.

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as the Charities Act 2011 the Charities Statement of Recommended Practice, UK tax legislation, pensions legislation, employment regulation and the Companies Act 2006.

In addition, we evaluated the trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting

estimates, in particular in relation to income recognition (which we pinpointed to the cut-off assertion), the restriction of income & expenditure, the recoverability of intercompany debtors and significant one-off or unusual transactions. Our audit procedures in relation to fraud included but were not limited to:

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the

override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of the audit report

This report is made solely to the charity’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body for our audit work, for this report, or for the opinions we have formed.

Michael Speight

Michael Speight (Jan 6, 2025 15:47 GMT)

Michael Speight (Senior Statutory Auditor) for and on behalf of Forvis Mazars LLP Chartered Accountants and Statutory Auditor

5th Floor

3 Wellington Place Leeds LS1 4AP

Date: 6 January 2025

17

Hope for Justice

Consolidated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2024

Notes
Incoming and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Income from investments
5
Total
Expenditure on:
Raising funds
Charitable activities
6
Other trading costs
Total
Net (expenditure)/income
Transfers between funds
Exchange differences arising on
consolidation
Net movement in funds for
the period
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
2024
£
4,008,280
-
1,370,084
140
5,378,505
1,164,396
3,916,313
796,899
5,877,607
(499,103)
-
-
(499.103)
(693,665)
(1,192,768)		 Restricted
Funds
2024
£
2,792,183
-
-
-
2,792,183
8,703
3,047,980
-
3,056,683
(264.500)
-
-
(264,500)
1,023,619
759,119		 Total
Funds
2024
£
6,800,463
-
1,370,084
140
8,170,688
1,173,099
6,964,293
796,899
8,934,290
(763.603)
-
-
(763,603)
329,954
(433,649)		 Total
Funds
2023
£
8,527,162
380
986,433
7,971
9,521,946
2,098,470
8,845,804
931,177
11,875,451
(2,353,505)
-
86
(2,353,419)
2,683,373
329,954

The group has no recognised gains or losses other than the results for the period as set out above.

All the activities of the charity are classed as continuing

The notes on pages 21 to 37 form part of these financial statements

18

Hope for Justice

Company Registration No. 06563365

Balance Sheets

For the year ended 31 March 2024

Notes
Fixed assets
Intangible assets
9
Tangible assets
10
Investments
11
Current assets
Stock
12
Debtors
13
Cash at bank and in hand
Liabilities
Creditors: Amounts falling due
within one year
14
Net current (liabilities)/assets
Total net assets/(liabilities)
The funds of the charity
Total general funds
17
Total designated
funds
17
Total restricted funds
17
Total charity funds
17		 Group
2024
2023
Restated
£
£
136,752
136,752
447,994
460,123
-
-
584,746
596,875
13,007
-
258,278
722,857
297,754
292,051
569,039
1,014,908
(1,587,434)
(1,281,829)
(1,018,395)
(266,921)
(433,649)
329,954
(1,640,762)
(1,290,540)
447,994
596,875
759,119
1,023,619
(433,649)
329,954		 Charity
2024
2023
Restated
£
£
84,078
84,078
105,283
148,584
6,173
6,173
195,533
238,834
-
-
47,069
280,748
106,598
87,508
153,668
368,256
(1,062,352)
(726,085)
(908,684)
(357,829)
(713,151)
(118,995)
(913,942)
(439,687)
105,284
148,583
95,507
172,109
(713,151)
(118,995)		 Charity
2024
2023
Restated
£
£
84,078
84,078
105,283
148,584
6,173
6,173
195,533
238,834
-
-
47,069
280,748
106,598
87,508
153,668
368,256
(1,062,352)
(726,085)
(908,684)
(357,829)
(713,151)
(118,995)
(913,942)
(439,687)
105,284
148,583
95,507
172,109
(713,151)
(118,995)
238,834
-
280,748
87,508
368,256
(726,085)
(357,829)
(118,995)
(439,687)
148,583
172,109
(118,995)

As permitted by s408 Companies Act 2006, the charity has not presented its own profit and loss account and related notes as it prepares group accounts. The charity’s deficit and total comprehensive loss for the year was £594,156 (2023 – loss of £1,057,944)

The financial statements were approved by the board on 6 January 2025 and signed on its behalf by:

andy donnell (Jan 6, 2025 14:39 GMT)andy donnell

Chair

19

Hope for Justice

Consolidated statement of cash flows

For the year ended 31 March 2024

Cash flows from operating activities:
Net (expenditure)/income for the reporting
period (as
per the statement of financial activities)
Adjustments for:
Depreciation charges
Exchange differences on consolidation
Dividends, interest and rents from investments
Decrease in stocks
Increase in debtors
Increase in creditors
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant & equipment
Purchase of software
Purchase of property, plant and equipment
Net cash used in investing activities
Change in cash and cash equivalents in the reporting
period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end
of the reporting period
Analysis of cash and cash equivalents
Cash in hand
Notice deposits (less than 30 days)
Notice deposits (more than 30 days)
Total cash and cash equivalents		 2024
£
(763,603)
63,961
-
(140)
(13,007)
464,579
305,605
57,394
140
-
-
(51,851)
(51,711)
5,703
292,051
297,754
2024
£
297,754
-
-
297,754		 2023
£
(2,353,505)
118,259
86
(7,971)
-
(300,519)
313,626
(2,230,024)
7,971
-
(18,204)
(156,529)
(166,762)
(2,396,786)
2,688,837
292,051
2023
292,051
-
-
292,051

20

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

1.1 Accounting policies

The accounts of the company are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - (FRS 102) (1 January 2019) - (Charities SORP (FRS 102)). They incorporate the results of the principal activity which is described in the trustee's report.

The company was incorporated on 11 April 2008 in England & Wales as a Private Limited Company by guarantee without share capital with use of 'Limited' exemption. The principal place of business is 30 Old Bailey, London, EC4M 7AU and it operates as a Public Benefit Entity.

1.2 Going Concern

During the financial year ending March 2024, HFJ made a smaller loss of £764k, compared to a loss the previous year of £2,353k. The whole organisation undertook a cost reduction process to realign with the lower levels of income subsequent to the withdrawal of a regular supporting organisation whilst they themselves restabilise. The budget and forecasts to 31 March 2026 have been created on a group basis, informed by income levels achieved to date and forecast for the remainder of the year ended 31 March 2025, and expenditure levels at stable reduced levels. This gives capacity to overachieve the budget, utilising surplus generated to further build reserves through the year which have been eroded over a number of years loss.

As a charity, The Group is always reliant on donations received, and so there are always uncertainties over the income

streams available. Post year end into the year ended 31 March 2024, The Group’s financial position has been continued to be adversely affected by a number of factors:

The Group has no borrowing facility and meets its day-to-day working capital requirements through careful cash flow management and a mix of secured multiyear grants as well as a mix of regular and one off donations from a range of individuals, Trusts & Foundations and Institutions.

Post year end, a number of actions have been taken to bring the group into a surplus generating position, including further cost cutting measures and a redesign of our approach to generating income. Having assessed the circumstances the Trustees have determined there is a degree of uncertainty to the cashflow, on the basis that the cash reserves are low, and there is limited control around timing of income being received and have determined there is a material uncertainty as to the ability of the group to continue as a going concern for the foreseeable future. However they believe it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments if the group were unable to continue as a going concern.

1.3 Judgements and key sources of estimation uncertainty In the application of the group’s accounting policies, the directors 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 upon 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 revisions and future periods where the revision affects both current and future periods.

21

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

Impairment of non-current assets

The determination of whether there are indicators of impairment of the group’s tangible assets. The factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

There are no estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of any assets or liabilities.

1.4 Fund accounting

The group has various types of funds for which it is responsible, and which require separate disclosure. These are as follows:

Unrestricted funds - Funds are expendable at the discretion of the Trustees in furtherance of the objects of
the group
Restricted funds - Restricted funds can only be used for particular restricted purposes within the objectives
of the group. These arise when funds are subject to specific restrictive conditions imposed
by funders/donors or by the purpose of the grant.
Designated funds - The Trustees may at their discretion set aside unrestricted funds for specific purposes

1.5 Assets policy a) Tangible fixed assets are stated at deemed cost less accumulated depreciation and accumulated impairment losses. Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expense of acquisition

b) Depreciation is provided to write off the cost or valuation, less estimated residual values, of all fixed assets over their expected useful lives. It is calculated at the following rates:

Freehold Property 5% straight line Motor Vehicles 25% straight line 20% -33% Fixtures & fittings straight line 25% - 33% Computer & equipment straight line

1.6 Incoming resources

22

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

1.7 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

1.8 Basis of consolidation

The consolidated financial statements incorporate those of Hope For Justice and all of its subsidiaries (ie entities that the group controls through its power to govern and manage the financial and operating policies). The definition of subsidiary has been revisited and includes those entities that are not directly owned but are directly controlled under a unified management system.

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions and balances between group entities are eliminated on consolidation and there are no restrictions on the ability of subsidiaries to transfer funds to the parent charity.

The parent company is included in the consolidated financial statements and is considered to be a qualifying entity under FRS 102 paragraphs 1.8 to 1.12. The following exemptions available under FRS 102 in respect of certain disclosures for the parent company financial statements have been applied:

The Trustees have taken the exemption conferred by S408(3) Companies Act 2006, accordingly the accounts present a consolidated Statement of Financial Activities (SOFA) only.

1.9 Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

23

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

1.10 Investments

Fixed asset investments are stated at cost.

1.11 Stocks

Stocks of foodstuff, clothing, equipment and stationery which were held for future use in project activities had been recognised in the balance sheet. It has been identified that the stock’s net realisable value is Nil. As a result a prior year adjustment has been made in the 2023 accounts to show this as expenditure in the year.

1.12 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.13 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.14 Creditors and provisions

Creditors and provisions are recognised where the group has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.15 Defined contribution scheme

A defined contribution plan is a post-employment benefit plan under which the group pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the SOFA in the periods during which services are rendered by employees.

For defined contribution schemes the amount charged to the SOFA for pension costs and other post-retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

24

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

2
Donations and legacies
Donations and legacies
Donations and legacies
3
Charitable activities
Speaker and trainer fees
Sale of 'awareness' merchandise
Speaker and trainer fees
Sale of 'awareness' merchandise		 Unrestricted
Restricted
Funds
Funds
Total
2024
2024
2024
£
£
£
4,008,280
2,792,183
6,800,463
4,008,280
2,792,183
6,800,463
Unrestricted
Restricted
Funds
Funds
Total
2023
2023
2023
£
£
£
5,706,917
2,820,245
8,527,162
5,706,917
2,820,245
8,527,162
Unrestricted
Restricted
Funds
Funds
Total
2024
2024
2024
£
£
£
-
-
-
-
-
-
-
-
-
Unrestricted
Restricted
Funds
Funds
Total
2023
2023
2023
£
£
£
-
-
-
380
-
380
380
-
380

25

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

4 Other trading activities Unrestricted Restricted
Funds Funds Total
2024 2024 2024
£ £ £
Slave Free Alliance 1,370,084 - 1,370,084
1,370,084 - 1,370,084
Slave Free Alliance includes income from wholly owned subsidiaries, Slave Free Alliance Limited
£1,180,233 (2023 £926,099), Slave Free Alliance Inc, £176,526 and Slave Free Alliance AS £13,325.
Other trading activities Unrestricted Restricted
Funds Funds Total
2023 2023
Restated 2023 Restated
£ £ £
Slave Free Alliance 986,433 - 986,433
986,433 - 986,433
Slave Free Alliance includes income from wholly owned subsidiaries, Slave Free Alliance Limited
(£709,024), Slave Free Alliance Inc, (£13,948) and Slave Free Alliance Australia Limited (£19,745).
5 Income from investments Unrestricted Restricted
Funds Funds Total
2024 2024 2024
£ £ £
Bank interest & Other Income 140 - 140
140 - 140
Income from investments Unrestricted Restricted
Funds Funds Total
2023 2023 2023
£ £ £
Bank interest & Other Income 7,971 - 7,971
7,971 - 7,971

26

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

6 Analysis of expenditure on charitable activities
Activities Support
undertaken directly costs Total
2024 2024 2024
£ £ £
Prevent 2,117,546 327,268 2,444,814
Rescue 1,882,392 290,925 2,173,317
Restore / Reform 2,032,099 314,062 2,346,161
6,032,037 932,255 6,964,292

Support costs are all the costs that are not directly identifiable to a particular programme or activity and include human resources and payroll, information technology; finance; marketing; communications; head office staff and establishment costs; and general administration. Allocation is made on a per capita basis.

Activities
undertaken directly
2023
£
Prevent
2,127,393
Rescue
2,366,461
Restore /Reform
2,927,357
7,421,211
7
Net Income/Expenditure
Fees payable to The Charity’s auditor for the audit of The Charity’s
annual accounts
Additional fee for the year ended 22 payable to the auditors
Additional fee for the year ended 23 payable to the auditors
Fees payable to The Charity’s auditor and its associates for other
services
Audit of accounts of subsidiaries
Tax compliance services
Total audit fees
Depreciation
Operating Lease Expense		 Activities
undertaken directly
2023
£
Prevent
2,127,393
Rescue
2,366,461
Restore /Reform
2,927,357
7,421,211
7
Net Income/Expenditure
Fees payable to The Charity’s auditor for the audit of The Charity’s
annual accounts
Additional fee for the year ended 22 payable to the auditors
Additional fee for the year ended 23 payable to the auditors
Fees payable to The Charity’s auditor and its associates for other
services
Audit of accounts of subsidiaries
Tax compliance services
Total audit fees
Depreciation
Operating Lease Expense		 Support
costs
Total
2023
2023
£
£
408,379
2,535,772
454,271
2,820,732
561,943
3,489,300
1,424,593
8,845,804
2024
2023
£
£
-
27,900
16,500
15,000
61,550
-
66,000
36,400
8,640
2,749
7,421,211
159,566
70,649
108,665
118,259
263,892
402,413

27

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

8
Employee Benefits
Salaries and Wages
Social Security costs
Employers Pension contributions (defined contribution scheme)
Average number employed during the year
Number of employees who received £60,000-£69,999 p.a.
Number of employees who received £70,000-£79,999 p.a.
Number of employees who received £80,000-£89,999 p.a.
Number of employees who received £90,000-£99,999 p.a.
Number of employees who received £100,000-£109,999 p.a		 2024
2023
£
£
5,281,566
6,417,126
488,269
577,211
290,108
204,828
6,059,942
7,199,165
302
415
2024
No
2
2023
No
1
1
1
-
-
3
2
-
2

Remuneration paid to the trustees in their capacity as trustees during the year was £nil (2023: £nil) and no expenses were paid. Employee benefits paid to the management team (as shown on page 1) during the year was £583,748 (2023: £666,223).

9 Intangible Fixed Assets


Intangible Fixed Assets
Cost or valuation
At 1 April 2023 - restated
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Written down value
At 31 March 2024
At 31 March 2023		 Group
Software
£
136,753
-
136,753
-
-
-
136,753
136,753		 Company
Software
£
84,078
-
84,078
-
-
-
84,078
84,078

28

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

10 Tangible Fixed Assets
Cost or valuation
At 1 April 2023 - restated
Additions in year
Disposals in year
At 31 March 2024
Depreciation
At 1 April 2023 - restated
Charge for the year
Disposals in year
Adjustment to depreciation
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023 - restated
Cost or valuation
At 1 April 2023 - restated
Additions in year
At 31 March 2024
Depreciation
At 1 April 2023 – restated
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023 - restated		 Freehold land
and buildings
£
122,471
27,226
-
149,697
32,424
1,585
-
(20,889)
13,120
136,577
90,047		 Group
Fixtures, fittings
and equipment
Motor Vehicles
£
£
559,153
294,270
15,742
8,883
(84,468)
(126,969)
490,428
176,184
295,338
188,010
85,238
21,842
(84,468)
(126,969)
(23,065)
(731)
273,043
82,152
217,385
94,032
263,816
106,260
Charity
Fixtures and
fittings
Computers and
equipment
£
£
136,309
109,769
-
6,338
136,309
116,106
34,275
63,219
28,254
21,383
65,529
84,602
73,780
31,504
102,034
46,550		 Total
£
975,894
51,851
(211,437)
816,309
515,772
108,665
(211,437)
(44,685)
368,314
447,994
460,123
Total
£
246,077
6,338
252,415
97,494
49,637
147,131
105,284
148,583

29

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

11
Investments
Investment in subsidiaries		 Group
Charity
2024
2023
2024
2023
£
£
£
£
-
-
6,173
6,173

Details of the company’s subsidiaries at 31 March 2024 are as follows:

Subsidiary
Undertaking		 Country of
Incorporati
on		 Registered
Number		 Holding Proportion
of voting
rights and
shares
held		 Principal activity
No More Slaves Ltd England &
Wales		 08692709 Ordinary 100% Dormant
Hope for Justice
International		 England &
Wales		 09440540 Ordinary 100% Dormant
Slave Free Alliance
Ltd		 England &
Wales		 11258651 Ordinary 100% A social offering businesses a range of
services to help them identify and remove
human exploitation from their supply chains.
The services include awareness training, gap
analysis, due diligence, risk management and
help with investigations, crisis response,
remediation and Slavery and Human
TraffickingStatements.
Hope for Justice
AS		 Norway 915 520 995 Ordinary 100% Advance the education of the public regarding
people traffickingand slavery
Slave Free Alliance
AS		 Norway 828 987 682 Ordinary 100% Aligned with Slave Free Alliance
Hope for Justice
(Australia) Limited		 Australia ABN 28 639
382 782		 Ordinary 100% Advance the education of the public regarding
people traffickingand slavery
Slave Free Alliance
(Australia) Limited		 Australia ABN 17 639
408 647		 Ordinary 100% Aligned with Slave Free Alliance
No More Traffik
Limited		 Northern
Ireland		 NI614396 Ordinary 100% No activity and all funds remitted to Hope for
Justice
Hope for Justice
(Hong Kong)
Limited		 Hong Kong 2904727 Ordinary 100% Dormant

30

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

Subsidiary
Undertaking		 Country of
Incorporation		 Registered
Number		 Basis of
consolidation		 Principal activity
Retrak England &
Wales		 6424507 Unified Management
Control		 Aligned with Hope for Justice
Hope For Justice
Ethiopia		 Ethiopia 0003507800 Unified Management
Control		 Aligned with Hope for Justice
Hope For Justice
Uganda		 Uganda Unified Management
Control		 Aligned with Hope for Justice
Hope For Justice
Inc.		 Tennessee,
USA		 75-3179471 Unified Management
Control		 Aligned with Hope for Justice
Slave Free Alliance
Inc.		 Delaware,
USA		 87-2097945 Unified Management
Control		 Aligned with Slave Free Alliance
OK200:Stop The
Traffic		 Iowa, USA 46-4678820 Unified Management
Control		 Aligned with Hope for Justice
Lily Pad Haven Inc. North
Carolina,
USA		 45-3036117 Unified Management
Control		 Aligned with Hope for Justice
The Tigers Club
Project Limited		 Uganda Unified Management
Control		 Hold title to land in Uganda that is used with
the charitable operations of Retrak’s branch in
Uganda
Subsidiary Undertaking
Assets at 31/3/24
Liabilities at 31/3/24
Net Funds at 31/3/24
Income for Year to 31/3/24
Expenditure for Year to 31/3/24
Surplus/(deficit) for Year to
31/3/24		 Hope For
Justice Inc.
Hope For
Justice
Ethiopia
Hope For
Justice Uganda
Slave Free
Alliance
Limited
Slave Free
Alliance Inc
£
£
£
£
£
127,887
224,563
245,044
433,442
205,405
(123,679)
(126,931)
(12,491)
(431,426)
(12,312)
4,208
97,632
232,553
2,015
193,093
2,525,222
1,529,792
696,770
1,179,570
176,526
2,942,308
1,425,828
666,895
1,172,570
4,437
(417,086)
103,964
29,874
6,999
172,089

31

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

12
Stock
Finished goods
13 Debtors
Trade debtors
Amounts due from Group Companies
Other debtors
Prepayments		 Group
Charity
2024
2023
Restated
2024
2023
£
£
£
£
13,007
-
13,007
-
Group
Charity
2024
2023
2024
2023
£
£
£
£
121,903
244,033
1,062
5,361
-
-
8,104
245,846
12,807
336,862
-
-
123,568
141,962
37,903
29,541
258,278
722,857
47,069
280,748

Amounts due from Group Companies includes the following amounts owed by subsidiary companies

Group Charity
2024 2023 2024 2023
£ £ £ £
Retrak Limited
 - - -
 157,513
Hope For Justice Australia
- - - 76,957
Hope For Justice Ireland
- - 8,104 8,104
Slave Free Alliance AS
- - - 3,272
- - 8,104
 245,846
Group Charity
14 Creditors 2024 2023 2024 2023
Amounts falling due within 1 year: £ £ £ £
Trade creditors 189,345 18,187 154,735 44,668
Amounts due to Group Companies - - 215,092 293,184
Other creditors 282,849 384,357 285,000 252,791
Social Security and Other Taxes 622,327 286,723 384,675 112,317
Accruals 81,268 269,424 22,850 23,125
Deferred income 411,645 323,138 - -
1,587,434 1,281,829 1,062,352 726,085

32

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

Amounts due to Group Companies includes the following amounts owed by subsidiary companies

Slave Free Alliance Limited
Hope For Justice
Inc
Hope For Justice AS
Slave Free Alliance Australia		 Group
2024
2023
£
£
-
-
-
-
-
-
-
-
-
-		 Charity
2024
2023
£
£
201,412
31,445
13,680
139,583
-
119,062
-
3,094
215,092
293,184		 Charity
2024
2023
£
£
201,412
31,445
13,680
139,583
-
119,062
-
3,094
215,092
293,184
293,184
Movements in deferred income
Deferred income at 1 April
Amounts released from previous years
Incoming resources deferred in the year		 Group
Charity
2024
2023
2024
2023
£
£
£
£
323,138
214,600
-
-
(323,138)
(214,600)
-
-
411,645
323,138
-
-
411,645
323,138
-
-

Deferred Income relates to annual membership contracts in Slave Free Alliance where this is invoiced annually in advance and the income is recognised over the contract period.

15 Transactions with related parties

During the year, there were no purchases from related parties. The total amount given to the charity by its trustees during the year was £1,000 (2023: £6,436).

Amounts received in the parent from Group companies during the year are as follows and these are deducted from costs, not treated as revenues:

SFA - £93,128 (2023 £93,128) – a charge for the year for support staff, Executive oversight and property & IT costs

SFA - £327,657 (2023: £nil) – gift aid distribution of profits

HfJ AS - £0 (2023 £143,545) – a charge for Executive oversight, support from Development & Comms and support from the global Programme team

HfJ Inc - £753,875 (2023 £711,436 - a charge for Executive oversight, support from Development & Comms and support from the global Programme team

All charges are at cost and at an arm’s length basis

33

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

16
Analysis of Group net assets by fund		 16
Analysis of Group net assets by fund
Unrestricted
Restricted
Total
Funds Funds
2024
£ £ £
Intangible assets 136,752 -
136,752
Tangible fixed assets 447,994 -
447,994
Current assets (190,080)
759,119
569,039
Current liabilities (1,587,434) -
(1,587,434)
(1,192,768)
759,119
(433,649)
Analysis of Group net assets by fund
Unrestricted Restricted Total
Funds Funds 2023
Restated Restated
£ £ £
Intangible assets 136,752 - 136,752
Tangible fixed
assets 460,123 - 460,123
Current assets (8,711) 1,023,619 1,014,908
Current liabilities (1,281,829) - (1,281,829)
(693,665) 1,023,619 329,954
Analysis of Charity net assets by fund
Unrestricted Restricted Total
Funds Funds 2024
£ £ £
Intangible fixed assets 84,078 - 84,078
Tangible fixed assets 105,283 - 105,283
Investments 6,173 6,173
Current assets 58,160 95,507 153,668
Current liabilities (1,062,352) - (1,062,352)
(808,658) 95,507 (713,151)
Analysis of Charity net assets by fund
Unrestricted Restricted Total
Funds Funds 2023
Restated
£ £ £
Intangible fixed assets 84,078 -
84,078
Tangible fixed assets 148,584 148,584
Investments 6,173 -
6,173
Current assets 196,147 172,109
368,256
Current liabilities (726,085) -
(726,085)
(291,104) 172,109
(118,995)
17 Analysis of Group Funds
B/fwd Received
Utilised		 Transfer in C/fwd

34

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

Prevent
Rescue
Restore / Reform
Restricted Funds
General Fund
Designated Funds
Fixed & Intangible assets
Total Funds
Prevent
Rescue
Restore / Reform
Restricted Funds
General Fund
Designated Funds
Fixed & Intangible assets
Building & equipment
Facilities
Strategic plan
Capital
Total Funds		 01/04/23
in year
in year
funds
31/03/24
Restated
£
£
£
£
£
111,686
1,034,041
(1,131,994)
-
13,733
931,479
821,200
(898,991)
-
853,688
(19,546)
936,943
(1,025,698)
-
(108,301)
1,023,619
2,792,183
(3,056,683)
-
759,119
(1,290,540)
5,378,505
(5,877,607)
148,881
(1,640,762)
596,875
-
-
(148,881)
447,994
329,954
8,170,688
(8,934,290)
-
(433,649)
B/fwd
Received
Utilised
Transfer in
C/fwd
01/04/22
Restated
in year
in year
Funds
31/03/23
Restated
£
£
£
£
£
264,406
669,505
(810,608)
(11,617)
111,686
638,181
1,191,270
(846,399)
(51,573)
931,479
39,982
959,470
(1,059,253)
40,255
(19,546)
942,569
2,820,245
(2,716,260)
(22,935)
1,023,619
908,439
6,701,701
(9,159,105)
258,425
(1,290,540)
540,396
-
-
56,479
596,875
91,969
-
-
(91,969)
-
100,000
-
-
(100,000)
-
-
-
-
-
-
100,000
-
-
(100,000)
-
832,365
-
-
(235,490)
596,875
2,683,373
9,521,946
(11,875,365)
-
329,954

35

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

Note 17
Prevent
Rescue
Restore / Reform
Restricted Funds
General Fund
Designated
Funds
Fixed &
Intangible assets
Note 17
Prevent
Rescue
Restore / Reform
Restricted Funds
General Fund
Designated
Funds
Fixed &
Intangible assets		 Analysis of Charity Funds
B/fwd
Received
Utilised
Transfer in
C/fwd
01/04/2023
in year
in year
funds
31/03/2024
£
£
£
£
£
63,738
114,948
(143,317)
-
35,370
50,618
91,288
(113,817)
-
28,089
57,753
104,155
(129,859)
-
32,048
172,109
310,391
(386,993)
-
95,507
(439,687)
2,675,266
(3,192,820)
43,299
(913,942)
148,583
-
-
(43,299)
105,284
148,583
-
-
(43,299)
105,284
(118,995)
2,985,657
(3,579,812)
-
(713,151)
Analysis of Charity Funds
B/fwd
Received
Utilised
Transfer in
C/fwd
01/04/2022
in year
in year
funds
31/03/2023
£
£
£
£
£
123,069
150,468
(209,799)
-
63,738
119,005
145,500
(213,886)
-
50,618
121,327
148,339
(211,913)
-
57,753
363,401
444,306
(635,598)
-
172,109
426,965
2,812,953
(3,679,605)
-
(439,687)
148,583
-
-
-
148,583
148,583
-
-
-
148,583
938,949
3,257,259
(4,315,203)
-
(118,995)

36

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

Purposes of restricted funds

The restricted funds are held to further the aims in UK and overseas, which are our four key programmatic areas: preventing exploitation, rescuing victims, restoring lives and reforming society. The work comprises activities including advocacy services, outreach, shelter, medical services and education; preventative work in communities; healthy parenting with families; liaising with and training Government officials; preparing research documents. At 31 March 2024 there is a negative restricted fund of £19k and this is due to the timing of income, in that claims are made on a spent basis on a quarterly basis.

Designated Fixed & Intangible Assets Reserve

The Charity owns tangible and intangible fixed assets used to carry out the charity’s activities, such as land and buildings and software. These functional fixed assets which are essential to the operations of the Charity are not, therefore, considered to be liquid assets that could be used to fund the potential contingencies. As such, they are treated as a Designated Reserve. The value of this reserve is equal to the net book value of fixed assets acquired from unrestricted funds.

37

Hope for Justice

Notes to the financial statements

For the year ended 31 March 2024

18 Operating leases

As at 31 March 2024, the Charity had future commitments under non-cancellable operating leases as follows:

Operating leases which expire:

Operating leases which expire:
Land and buildings
Less than one year
Between two and five years
Greater than five years
19. Reconciliation of net debt
Cash at bank and in hand
Total cash and cash equivalents		 Group
Charity
2024
2023
2024
2023
£
£
£
£
176,468
207,738
70,271
96,563
70,265
83,397
-
72,422
48,081
-
-
-
294,814
291,136
70,271
168,985
At 1 April
2023
Cash
flows
Other
changes
At 31 March
2024
£
£
£
£
292,051
5,703
-
297,754
292,051
5,703
-
297,754

20. Prior Year Adjustment

Hope For Justice

Computer Software with a cost of £84,078 had been included in Tangible assets in year ended 2023. This now has been reclassified as Intangible assets, and the balance sheet restated. These assets have not been depreciated to date and this reclassification therefore has no impact on the Statement of Financial Activities.

Summary
Intangible Assets
Moved from Tangible Assets
Intangible Assets		 At 31 March
2024
At 31 March
2023
£
£
136,753
52,675
-
84,078
136,753
136,753

38