Company registration number: 06738209 Charity registratlon number: 1126718 Hope Church Orpington IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024 Field Sullivan Limited Statutory Auditor 9 Hare & Billet Road Blackheath SE3 ORB
Hope Church Orplngton Contents Reference and Administrative Details Directors, Report 2to7 Independent Auditor's Report 8tolO Statement of Financial Activities li Balance Sheet 12 statement of Cash Flows 13 Notes to the Flnanclal Statements 14to32
Hope Church Orplngton Reference and AdministratSve Details Chalrman Barry Palmer Dlrectors Barry Palmer Matthew Bulpitt Gary Carvosso Anthony Hall Ruth Marchant Sarah Palmer Olayemi Shyllon 1126718 Charlty Reglstratlon Number Company Reglstratlon Number 06738209 The charity is Incorporated in England and Wales. Unlt 8 The Walnuts Orplngton BR6 OTW Reglstered Offl¢e Audltor Field Sullivan Llmited Statutoiy Auditor 9 Hare & Billet Road Blackhe8th SE3 ORB Page I
Hope Church Orpington Directors, Report The directors, who are directors for the purposes of company law, present the annual report together with the flnancial statements and auditors, report of the charitable company for the year ended 310ecember 2024. Introductlon and Overvlew 2024 was a year marked by significant progress, strategic clarity, and continued faithfulness In the midst of financial pressures. The church continued to operate across five congregational locations and remalned committed to Its twin Eoals: the advancement of the Christlan falth and the relief of hardship withln our communities 8nd beyond. Desplte navlgatlng a deficlt budget, we saw God's provlslon In many ways through conslstent giving, special offerings, and tangible spiritual fruit acr055 our congregatlons. Key Actlvltles and Achlevements Throughout the year, our work ha5 focused on four key areas.. Strengthening our congregational life, Investlng In mSssion and outreach, stewarding our resources well, and preparing for long-term sustainability. •Congregatlonal Llfe & Dlsclpleshlp. We have contlnued to grow and deepen dlscipleshlp through regular Sunday gatherlngs, Alpha courses, and the relaunch of our Vision & Values course. Two Interns joined the team thls year, with several staff adjusting hours to better meet ministry needs. Congregations such as Chislehurst have experienced renewed momentum, wlth new families joining and signs of spiritual growth. The Hayes congregation, formerly West Wickham, which moved to Hayes in 2023 has grown since then and from the beginning of 2024 has been runnlng a weekly toddler group. The Orplngton congregation continues to flourish, mutually benefltting from Its central position within the community. •Facillties & Slte Developments,. The long-awaited structural repalrs at St Luke's Church commenced in August 2024. The initial provision of £140,000 created in 2023 was increased to £170.000 during 2024 to support thls work. At Downham, progress was made in dialogue with London City Mlssion around purchasing the slte. The Purchase was finally completed in May 2025 for a total conslderation of £780,000. •Together 25: Planning for the Together 25 event IAu8ust 20251 gained signiflcant traction this year. Budgetlng and pricing models were prepared and approved, and early promotion has already created strong engagement across Regions Beyond churches. We expect this event to be a unlfying and faith-buildlng time for many across our network. Outreach & Global Mlsslon Hope Church continued to invest deeply In both local outreach and global mission throughout 2024. •Ukralne Partnershlp,. Our commitment to supporting Churches and communities affected by the war in Ukraine remained a significant focus. In total, five trips were undertaken, purchasing over 25 tonnes of food, medlclne, winter clothln81 and other supplies. These visits, which included members from Hope Church and partner congregations, provided both practical aid and spiritual encouragement. Local church leaders expressed deep gratitude for the personal presence of our team5, and a Eenerous donation of £10,000 was received speclfltally for thi5 work. These trlps reinforced the value of sustalned relationship-based misslon, not just aid, •Lesotho Mlsslon Trip; In June, a team from Hope Church vlslted Lesotho to support leadership development and local ministry efforts. The visit included teaching sessions, prayer gatherlngs, and strategy meetings with local leaders, This relational investment reflects our long-standing commltment to empowering Indlgenous leadership within our Regions Beyond family. Page 2
Hope Church Orplngton Directors, Report •Emerglng European Relatlonshlps; During the year, promising connection5 were established wlth churches In Italy, following a visit by an Italian couple to our evening prayer meeting. Thi5 has led to ongoir¢g dialogue and growlng sense of mutual encouragement and potential partnership. We are also developing a partnership with Reglons Beyond church in Holland to plant more churches in Europe, partlcularly Belgium. •Local Outreach,. The Downham Foodbank, now Under Hope Church's administration, continued to provlde tritical support to families facing food insecurity. Staffed by a dedicated part-time team and volunteers, this work has grown in both impact and efficiency. Baby Basics also expanded its partnershlps with health professionals and social servlces, offerlng supplles and dlgnity to vulnerable women and young familles. We contlnue to provide pop-ln clubs for the elderly at Orpington. Bromley and Downham and an art club and craft group at Orpington. There has been emphasis on contlnuing to resource the drop-in sessions for vulnerable people In Orpington and the English language learning Café in Bromley. Flnanclal Revlew The church entered 2024 with a budgeted lunrestrictedl deficit of £98,538. The adual year-end lunrestrictedl deficit Is £148,440 after adjusting for capit81 expenditure depreciation and the extra St Lukes building provision. Despite pressures from rislng salaries, bulldlng costs, and reduced investment income, some offsetting savings Iparticularly in utilities) helped cushion the impact. The church's principal source of income Is from voluntary donations. Giving remained steady, with special offerings providing additional support for capital needs, especially toward5 the purchase of the Downham bullding, Discusslons were ongolng about achieving a balanced budget in the near future, The Directors and Elders are continuing to monltor financial trend5, engage the church family on glvlng. and explore Staffing structures for greater sustainability. Gifts to external organisations and individuals are considered and approved by the Elders on the basls of need and fulfilment of the charitable objectives. We gave away 10.45Yo of our income, extludlng restricted funds. The Directors have set aside designated funds from general funds for various purposes. The total amount set aside as designated funds at the end of the year was £84,14112023'. £27,380). £75,011 of this was collected as part of the 2024 Special Offering and put aslde towards the Downham building purchase. Rlsk Management A revised Risk Register was presented, discussed, and updated during the year, with clearer identification of core risks le.g., Flre. Safeguarding, Governance). Subcommittees have been created to support governance functions, with a renewed emphasis on board successlon planning. Particular attention was paid to staff wellbeing, bullding safety. and financial oversight. Page 3
Hope Church Orplngton Directors, Report ReseeS Pollcy and Deslgnated Funds The church aims to hold unrestricted reseeS covering at least two month5 of operational expenditure, with a maxlmum cap of twelve months. As of year-end, unrestricted reserves (excluding deslgnated funds) comfortably exceeded the minimum threshold, although ongoing deficits will need to be carefully managed in the coming years. Two month's unrestricted fund expenditure in 2024 amounted to approximately E163k12023.. £154kl and unrestricted reserves on general fund, excluding designated funds, held as net current assets amounted to approxlmately £1.43m12023'. £1.59ml. Plans for 2025 Looking ahead, our prloritles Include.. Securlng a long-term solutlon for Downham's site. Building purchased May 2025. • Delivering Together 25 as a Spiritually signlficant event for our wlder Regions Beyorsd family. Continuing to serve the borough through food justice, Baby Basics, and community partnership5. Developing new leadership through internships, staff development, and church-wide discipleship. Progresslng toward a balanced, sustainable budget. We remain confldent In the faithfulness of God and the generosity of Hi5 people. The Board Is deeply grateful to the staff, volunteers, and congregation members who have served so dlligently durlng the year. Dlrettors and offlcers The Directors and officers serving during the year and slnce the year end were as follows: Dlrector5: Barry Palmer Matthew Bulpitt Gary Carvosso Cassandra Chiwaridzo (Reslgned 29 February 20241 Anthony Hall Esau Maponda IReslgned 22 September 20241 Ruth Marchant Ifeyinwa Njoku IResigned 15 March 20241 Sarah Palmer Olayemi Shyllon Chairman: Barry Palmer Page 4
Hope Church Orplngton Dlrectors. Report Structure> governance and management Noture ofgovernlng document The organlsatlon is a charitable company limited by guarantee as defined by the Companies Act 2006, company reglstration number 06738209 and registered as a charity with the Charity Commission, charity registration number 1126718. The company was established under a Memorandum and Articles of Association which established the object5 and powers of the charitable company and is governed by its Articles of Assoclation. Hope Church Orpington is part of the Regions Beyond movement and a member of the Evangelical Alliance. Neither of these bodies has control over the operation of the church or its financial affairs. Recrultment and appolntment of dlrectors Directors are appointed and removed by a majority of Elders. Elders are appointed by existing Elders. Inductlon and tralnlng of dlrectors New Directors are given induction training provided by the Chair of Directors, They receive recent minutes, the latest report and accounts, the governlng document and the guldance produted by Stewardship on being a Director/Trustee. Dlrectors are encouraged to attend training and are informed of relevant training opportunities, Orgonlsotlonol structure Organisation and staffing of Hope Church - Hope Church Orpington is an orthodox, evangelical Protestant Christlan church. The Church is currently governed by fifteen Elders, headed by a lead Elder who is employed by the Church. In total seven of the Elders are employed by the Church. Four are full tlme and three are part time, There are also a further four full time staff employed and five part time members of staff. A significant number of volunteer members of the church lead, 5UStain and develop ministries and activities of the church. Their contribution is vital to the Success of the charltv. Staffing needs are kept under regular review by the Elders and other Directors. The Elder5, Directors 8nd staff are all committed members of the Church, and support the vision and values of the Church. The Church has a structured approach to Staff induction, supervlslon and anrbual review. Each employee has a written job description that reflects the scope of the role and responsibillty they undertake. Thelr line manager is responsible for coordinating a planned Inductlon at the beginning of their employment. Regular supervision, usually monthly, is given to all employees and interns. Salaries for staff are set annually by the Board appointed salary subcommittee. They make recommendations based on performance during the year, any significant changes in responsibilities and CPI. Page 5
Hope Church Orpington Directors. Report The oversight of the Church Is the responsibility of a team of fifteen Elders ITony Hall lead Elder, Gary Carvosso, David Jackson, Julian Sanders, Matt Lofthotjse, Kennedy Mark, Mike Garforth, Colin Potter, Peter Heath, Darren Upton, M8tthew Bulpitt, Olayemi Shyllon, Jacob Webb, Alex Beaken and Greg Shepherdl, assisted by the other Dlrectors, partlcularly in the administrative and regulatory oversight of the church. Gideon Bodl reslgned as an Elder on 17 March 2024. Jacob Webb was appointed as an Elder on 24 March 2024. Andrew Wilmhurst resigned as an Elder on 29 September 2024. Alex Beaken and Greg Shepherd were appointed as Elder5 on 18 May 2025. The Directors and the Elders are asslsted by a team of paid employees and, in common with many churches, a large number of volunteers. The day to day running of the charity is delegated by the Dlrectors to the Core Team which meets regularlv. The Dlrectors agree the overall strategy and budgets, as recommended by the Core Team. Two of the Directors usually sit on the Core Team and are responsible for communicating any changes and representing the Directors, decisions. During the financlal year 2024, the Whitefoot and Downham Community Food Plus Project Limited operated a food club out of Hope Church Downham premise5 in Lewisham, free of charge, providing much needed food to the local community. Hope Church Orpington provides a member of staff on a part-time contract to manage the prolect on behalf of the food club. Page 6
Hope Church Orplngton Directors, Report Statement of dlrectors, responslbllltles The directors Iwho are also the dlrectors of Hope Church Orpington for the purposes of company lawl are responsible for preparing the dlrectors, report and the financial statements in accordance wlth applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the directors to prepare financial statements for each financial year. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the Intoming resources and application of resources, including its Income and expenditure, of the charitable company for that period. In preparing these financlal statements, the directors are required to: select suitable accounting policies and apply them con5i5tently: observe the methods and principles In the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explalned In the financial statements,. and prepare the financial statements on the going concern basis unle55 it Is inappropriate to presume that the charitable company wlll contlnue in business. The directors are responsible for keeplng proper accounting records that can disc105e with reasonable accuracy at any time the financial posltlon of the charitable company and enable them to ensure that the flnanclal statements comply with the Companles Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial informatlon included on the charitable company's webslte. Legislation governing the preparation and dissemination of financlal statement5 may dlffer from legislation in otherjurisdictions. Dlsclosure of Information to audltor Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establlsh that the charity's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The annual repor ved by the directors of the charity on 4 September 2025 and signed on it5 behalf by: Barry Palmer Chairman and director Page 7
Hope Church Orplngton Independent Audltor's Report to the Members of Hope Church Orpington Oplnlon We have audited the financial statements of Hope Church Orpington Ithe 'charity'l for the year ended 31 December 2024, which comprise the Statement of Flnancial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting pollcies. The financial reporting framework that has been applied in their preparation is Unlted Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law IUnSted Klngdom Generally Accepted Accounting Practice). In our oplnion the flnancial statements: glve a true and fair view of the state of the charlty's affairs as at 31 December 2024 and of its incoming resources and application of resourtes, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wlth the requirements of the Companies Act 2006. Basls for oplnSon We conducted our audit in accordance with Internatlonal Standards on Auditing IUKI (ISA5 IUKII and applicable law, Our responsibilities under those standards are further described in the auditor responslbilities for the audit of the flnancial statements sectlon of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financlal statements in the UK, including the FRC'S Ethlcal 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. Concluslon5 relatlng to golnE concern In auditing the financial statements, we have concluded that the directors use of the golng concern basls of accounting in the preparation of the financial statements Is approprlate. Based on the work we have performed, we have not identified any material uncertainties relatlng to events or conditions that, indivldually or collectively, may cast signiflcant doubt on the charity's ability to contlnue as a golng concern for a period of at least twelve months from when the original financial statements were authorlsed for issue. Our responsibllltles and the responsibilities of the directors wlth respect to going concern are described In the relevant sections of this report. Other Informatlon The directors are responsible for the other Information. The other information comprlses the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opirkion on the flnancial statements does not cover the other information and, extept to the extent otherwise expllcltly stated in our report, we do not express any *orm of assurance conclusion thereon. Page 8
Hope Church Orplngton Independent Auditor's Report to the Members of Hope Church Orplngton In connectlon with our audlt of the financial statements, our responsibillty Is to read the other information and, In doing so, consider whether the other information is materially Inconsistent with the financlal statements or our knowledge obtained In the audit or otherwise appear5 to be materially misstated. If we Identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a materlal misstatement of the other information. If, based on the work we have performed. we conclude thgt there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlon on other matter prescrlbed by the CompanSes Act 2006 In our opinion. based on the work undertaken in the course of the audit,. the information given in the Directors, Report for the financial year for which the financial statements are prepared is consistent with the financlal statements: and the Directors, Report ha5 been prepared in accordance with appllcable legal requirements. Matters on whlth we are requlred to report by exceptlon In the light of our knowledge and understandlng of the charity and its environment obtained in the course of the audit, we have not identified material mlsstatements in the Dlrectors, Report. We have nothing to report in respect of the following matters where the Companles Act 2006 requires u5 to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branche5 not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disc105ures of director5 remuneration specified by law are not made,. or we have not received all the Information and explanations we require for our audit. Responslbllltle5 of dlrectors As explained more fully in the Statement of dlrectors, responsibilities 15et out on page 71, the directors are responsible for the preparation of the financial statements and for belng 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 financlal statement5, the directors are responsible for assessing the charity's ability to contlnue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basls of accounting unless the directors elther intend to liquidate the charity or to cease operatlons, or have no realistic alternative but to do so. Page 9
Hope Church Orpington Independent Auditor's Report to the Members of Hope Church Orplngton Audltor responslbllitles for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal 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 IUKI will always detect a material misstatement when it exlsts. Misstatements can arise from fraud or error and are considered materlal if, individually or In the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these flnancial statements. The extent to which our procedures are capable of detecting irregularities, includln8 fraud 15 detailed below: Audit procedures undertaken In response to the potential risks relating to Irregularities (which include fraud and non-compllance with laws and regvlationsl comprised of: enquiries of manangement and those charged with governance as to whether the entity complies with such laws and regulations,. enquiries with the same concerning any actual or potential litigation or claims,. inspectlon of relevant legal correspondence; review of board minutes; testlng the appropriateness of entries in the nominal ledger, including Journal entries; reviewing transactlons around the end of the reportlng period,. and the performance of analytical procedures to identify unexpected movements In actount balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities Including fraud, is limited by the inherent dlfflculty in detecting irregularitles, the effectiveness of the entlty's controls, and the nature, timlng and extent of the audlt procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregulairites that result from error. As explalned above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAS IUKI. A further descrlption of our responsibilities is available on the Financial Reporting Councll's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditorfs report. Use ofour report Thi5 report is made solely to the charitable company's directors, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we mlght state to the charity's director5 those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responslbllity to anyone other than the charitable company and its directors as a body, for our audit work. for thi5 report, or for the opinion5 we have formed. Tim Sullivan FCA (Senior Statutory Auditor) For and on behalf of Field Sulllvan Limited, Statutory Auditor 9 Hare & Billet Road Blackheath SE3 ORB Date:.... Page 10
Hope Church Orpln8ton Statement of Flnanclal Actlvltles for the Year Ended 31 Decernber 2024 Ilncludlng Income and Expendlture Account and Statement of Total Recognlsed Galns and Losses} Total 2024 Total 2023 ilnTestfl¢ied Restrlttèd Unre$trl¢ted Restrltted Note Income and Endowments from: Donations and legacles Chari13ble actitIeS 826,091 49.958 73,571 756 201,Th)6 417 1.027.097 50.375 73,571 756 760.606 63.348 62.616 1,080 188.422 111.5311 949,028 51,817 62,616 1,080 Investment income Other Intome Total Income 950.376 201,423 1.151.799 887.650 176.891 1,064,541 Expendlture on.. Chariiable è(tItIes 11.037.136 1216,803 1,253,939] 11,062.1281 1153,5481 11,215.6761 Total ÈxpendltuiÈ 11.037.136) 1216,8031 1,253,9391 11,062,128) 1153,5481 lJ,215.676 Net movernent In funds 186,7601 IL5,3801 1102,1401 1174.4781 23.343 lJ51,1351 Reconclllatlon olfunds Total funds brought forw3r(t 1,617,296 103,663 1.720,959 1,791.774 80.320 1,872,094 Total funds carrled forward 22 1,530.536 88,283 1,618,819 1,617,296 103,663 1,720,959 All of the charltY'5 actlvitles derlve Irorn contlnulng opÈratlons durin6 the above two perlods. The funds breakdown for 202315 shown IA note 22. ThÈ notes on page$ 14 to 32 form an Integf31 part of these financlal statements. P4ge 11
Hope Church Orpington (Registration number; 06738209) Balance Sheet as at 31 December 2024 2024 2023 Note Flxed assets Tangible assets 14 17,144 40,786 Current a55et5 Stocks 15 14,049 70.961 1,627,368 5.154 34,862 1,856,545 Debtors 16 Cash at bank and In hand 17 1,712,378 1,896,561 Credltors: Amounts falling due wlthln one year 18 147,6731 176,3881 Net current assets 1,664,705 1,820,173 Total assets less turrent Ilabllltles 1,681,849 1,860,959 Provlslons 20 163,0301 1140,0001 Net assets 1,618,819 1,720,959 Funds of the eharlty: Restricted Income funds Restricted funds 88,283 103,663 Unrestrlcted Income funds Unrestrlcted funds 1,530,536 1,617,296 Total funds 22 1,618,819 1,720,959 The financlal statements on pages 11 to 32 were approved by the dlrectors, and authorised for issue on 4 September 2025 and si on eir behalf by., Barry Palmer Chairman and director The riotes on pages 14 to 32 form an integral part of these financial statements. Page 12
Hope Church Orpington Statement of Cash Flows for the Year Ended 31 December 2024 2024 2023 Note Cash flows from operatlng act5vltles Net cash expenditure 1102,1401 1151,13SI Adjustments to cash flows from non-cash items Depreciation Investment income 45,008 {73.5721 42,338 162,6161 1130,7041 1171,4131 Worklng capltal adJustments Ilncreasel/decrease in stocks Ilncreasel/decrease in debtors IDecreaselllncrease In creditors IDecrea5el/increa5e in provisions Increase in deferred income 15 18,8951 136,0991 135,2751 176,9701 6,560 11,680 60,854 17,143 140,000 1,212 16 18 20 Net cash flow5 from operating activities 1281,3831 59,476 Cash flows from Investing actlvltles Interest receivable and similar income Purchase of tangible flxed assets 73,571 121,3651 62,616 150,5571 14 Net cash flows from investing activities 52,206 12,059 Net Idecreasel/increase in cash and cash equivalents 1229.1771 71,535 Cash and cash equivalents at l January 1,856,545 1,785,010 Cash and cash equivalents at 31 December 1,627,368 1,856,545 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 14 to 32 form an integral part of these financial statement5. Page 13
Hope Church Orpington Notes to the Financlal Statements for the Year Ended 31 December 2024 I Charlty status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the dlrectors is liable to contribute an amount not exceeding £1 towards the assets of the charlty in the event of liquidation, The address of its registered office Is: Unlt 8 The Walnuts Orpington BR6 OTW These financial Statements were authorised for issue by the directors on 4 September 2025. 2 A¢countlng pollcles Summary of slgnlflcant accountlnE pollcles and key accountlng estlmates The principal accountlng pollcies applied in the preparation of these flnanclal statements are set out below. These pollcies have been conslstently applied to all the years presented, unless otherwise stated. Statement of Compliance The financial statements have been prepared in accordance with Accounting and Reportlng by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 1021 leffective l January 20191 Icharities SORP IFRS 1021 Second edition October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charitles Act 2011. Basls of preparatlon Hope Church Orpington meets the definition of a publlc beneflt entity under FRS 102. A55et5 and liabilities are Initially recogn15ed at historlcal cost or transaction value unless otherwise stated In the relevant accounting policy notes. Golng concern The directors consider that there are no material uncertainties about the charity'5 ability to continue as a going concern nor any 51gnificant areas of uncertainty that affect the carrying value of assets held by the Charity. Page 14
Hope Church Orpington Notes to the Financlal Statements for the Year Ended 31 December 2024 Judgements and key sources of estlmatlon uncertalnty In the application of the charIt$ accounting policies, the directors are required to make judgements, estimates and assumptlons about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on 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. Revlslons to accounting estimate5 are recognlsed in the periods in whlch the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods. The estimates and assumptions that have a signiflcant risk of causing a materlal adjustment to the carrying amounts of assets and liabillties within the next finantlal year are addressed below.. Repalr works provlslon for the spSre at St Luke's Church A realistic assessment of the scale of the work that needs to be undertaken under the terms of the lease has been made and provided for in the financial statements, Valuatlon of stock The Baby Basics restricted stock, which is not for resale but for distribution to new mothers, has been valued at a falr value as per section 6.23 FRS 102. Income and endowments All income is recognised once the charity has entitlement to the income, it Is probable that the income wlll be received and the amount of the income receivable can be measured reliably. Donatlons and legotles Donations are recognised wherh the charity has been notified In writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until elther those condltlons are fullv met, or the fulfilment of those condltions is wholly within the control of the charity and it 15 probable that these conditions will be f ulfilled in the reporting period. Grants recelvoble Grant5 are recognised when the charity has an entitlement to the funds and any conditions linked to the Erants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet a5 deferred income to be released. Deferred Income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when.. - The donor 5petifles that the grant or donation must only be used in future accounting perlods; or - The donor has imposed conditions which must be met before the charlty has uncondltlonal entitlement. Page 15
Hope Church Orpington Notes to the Financlal Statements for the Year Ended 31 December 2024 Gllts In klnd Gifis in kind are recognised In different Way5 dependent on how they are used by the charlty.. 111 Those donated for resale produce income when they are sold. They are valued at the amount actually realised. lill Those donated for onward transmlssion to beneficiaries are incltjded in the Statement of Financial Activities a5 incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acqulre them. lili) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charlty would have had to pay to atqulre them. Investment Income Interest 15 recognised once it has been declared and notification has been received of the interest due. Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expendlture, it's probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate simllar costs to that category. Where costs cannot be directly attributed to partlcular headings they have been allocated on a basis consistent with the use of resources, Wlth central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portlon of the asset's use. Other support costs are allocated based on the spread of Staff costs. Chorltable actlvitles Charitable expenditure comprises those costs incurred by the charlty in the delivery of Sts activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those c05t5 of an indirect nature necessary to support them. Gront provlslons Provisions for grants are made when the intention to make a grant has been communlcated to the recipient but there is uncertainty about either the tlmlng of the grant or the amount of grant payable. Support costs Support costs Include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocatlng properly costs by floor areas, or per capita, staff costs by the time spent and other costs by thelr usage. Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Flnance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity IS potentially exempt from taxation In respect of income or capital gains received within categorles covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxatlon of Chargeable Galns Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Page 16
Hope Church Orplngton Notes to the Flnancial Statements for the Year Ended 31 December 2024 Tanglble flxed assets Individual fixed assets costing £250.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated Impairment losses. Depreclatlon and amortlsatlon Depreclation is provided on tanglble fixed assets so as to write off the cost or valuation, less any estimated resldual value, over their expected useful economic life as follows.. Asset cla55 Depreclatlon method and rate stralght line basis over 50 years Ibulldlngs only) stralght line basis over 3 - 10 years depending on useful life over the term of the lease to the earliest break polnt Land and buildings Fixtures. flttlngs & equipment Improvements to short leasehold Research and development Research and development expenditure is written off as incurred. Stock Stock is valued at the lower of cost and estimated selling prlte less costs to complete and sell, after due regard for ob501ete and slow moving stock5. Cost is determlned using the first-in, fir5t-out ba515. IFIFOI. Trade debtors Trade debtors are amounts due from customers for merchandise 501d or services performed in the ordinary course of buslness. Trade debtors are reco8nised initially at the transaction price. They are subsequently measured at amortlsed cost using the effective interest method. less provlsion for impairment. A provision for the impairment of trade debtors is establlshed when there is objertlve evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equlvèlents comprise cash on hand and call deposits, and other short-term highly liquid Investments that are readlly convertible to a known amount of cash and are subject to an insignificant rlsk of change In value. Page 17
Hope Church Orpington Notes to the Financial Statements for the Year Ended 31 December 2024 Borrowings Interest-bearing borrowings are Initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carrled at amortised cost. with the difference between the proceeds, net of transaction costs, and the amount due on redemption being reco8nised as a charEe to the Statement of Financial Actlvltles over the period of the relevant borrowing. Interest expense is recognised on the basis of the effectlve Interest method and is Included in interest payable and simllar charges. Borrowlngs are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Provlslons Provisions are recognised when the charlty has an obllgation at the reporting date as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate tan be made of the amount of the obligation. Fund strutture Unrestricted income fund5 are general fund5 that are available for use at the directors, discretion In furtherance of the objectives of the charity. Deslgnated funds are unrestricted fund5 set aside for specific purposes at the dlscretion of the directors. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restrlcted to that area or purpose. Penslons and other p05t retlrement obllgations The charity operates a de*ined contribution pension scheme which is a pension plan under which fixed contribLttlons are paid into a penslon fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee servlce in the current and prlor periods. Contributlons to defined contribution plans are reco8n15ed in the Statement of Flnancial Activities when they are due, If contributlon payments exceed the contribution due for service, the excess is recognised as a prepayment. Page 18
Hope Church Orpington Notes to the Financial Statements for the Year Ended 31 December 2024 3 Income from donatlons and legacles Unrestrlcted funds Deslgnated General Re5trlcted fund5 Total 2024 Total 2023 Donatlons and legaeies,. Appeals and donations 75,048 651,874 87,169 97,605 824,527 87.169 740,557 87,059 Glft ald reclaimed Grants, including capital grants; Grants from other charities 12,000 57,468 45,933 69,468 45,933 67,200 54,212 Gifts in kind 75,048 751,043 201,006 1,027,097 949,028 4 Income from charltable actlvltles Unre5trlcted fund5 General Restrlcted funds Total 2024 Total 2023 Church activitles 34,543 15,415 417 34,960 15,415 44,562 7,255 Rental income 49,958 417 50,375 51,817 Page 19
Hope Church Orpington Notes to the Financlal Statements for the Year Ended 31 December 2024 5 Investment Income Unrestrlcted funds General Total 2024 Total 2023 Interest receivable and similar income; Interest receivable on bank deposits 73,571 73,571 62,616 6 Other Income Unrestrlcted funds General Total 2024 Total 2023 Miscellaneous income 756 756 1,080 Page 20
Hope Church Orpington Notes to the Financial Statements for the Year Ended 31 December 2024 7 Expendlture on charltable actlvltles Total 2024 Total 2023 Note Church family actlvities Conference5 and other training Bromley premises and operating costs West Wickham & Chislehurst premises and operatlng costs Downham premlses and operating costs Other charitable expendlture Orpington premises and operating costs Evangelism and community outreach Chlldren's and youth work Training future leaders Ministerial and travel expenses Repalrs and maintenance Depreciatlon, amortisation and other similar costs Grants to individuals 8,424 3,971 40,543 25,257 1,447 6,197 70,257 18,734 49,452 33,476 52,729 30,000 45,009 55,533 201,552 458,333 153,025 3,862 2,110 46,226 25,355 37,316 1,278 58,504 19,745 81,031 31,564 24,961 140,000 42,338 50,518 125,557 395,462 129,849 Grant5 to Instltutions Staff costs Support Costs 1,253,939 1,215,676 In addition to the expenditure analysed above, there are also support costs of £153,02512023 £129,849) which relate directly to charitable activities. See note 8 for further detalls. Page 21
Hope Church Orpington Notes to the Flnancial Statements for the Year Ended 31 December 2024 8 Analysls of support costs Total 2024 Total 2023 Staff costs Wages and salaries Soclal security costs Penslon costs 87.681 4,841 6,959 7S,211 6.546 6,669 Audlt fees Audlt of the financial statements Bank interest payable Administration expense5 Legal and professional Bad debts written off 10,500 4,465 35,080 269 io,ioo 5.617 24,956 7SO 3,230 153,025 129,849 Page 22
Hope Church OrpSngton Notes to the Financial Statements for the Year Ended 31 December 2024 9 Grant-maklng Analysls of grants Grants to Instltutlons 2024 2023 Grants to Indlvldua15 2024 2023 Analys5s To individuals 55,533 50,518 To institutions 201,552 125,557 201,552 125.557 55,533 50,518 Below are detai15 of material grant5 made to institution5 2024 2023 Name of institution Reglons Beyond Actlvlty Church activities 65,133 25,200 10 Dlrettors remuneratlon and expenses During the year the charity made the following transactions wlth dlrector5'. Anthony Hall received remuneration ot £59,730 12023,. £56,359) plus pension contributions of £5,973 12023.. £5,636) and hls wlfe, Tina Hall, received remuneration of £13,11512023: E12,3671 plus pension contributlons of £1,312 12023: £1,237). Gary Carvosso received remuneratlon of É18.382 12023: £17,343) plus pension contributions of El,838 12023.. £1,734). During the year Molly Carvosso, daughter of Gary Carvosso. received £16,15112023: £13.2931 plus pension contributions of £1,61512023: £1,329} In connectlon with her employment as media assistant wlth the charity. Thelr remuneration was in accordance with the provislons of the governing document. Three directors and five persons related to them incurred expenses totalllng £74,032 12023.. E26,0071 in connection with their duties as employees or volunteers rather than as dlrectors and one of them received £nil 12023: £1,200) to cover expenses accommodatlng an Intern worklng at the church. The significant Increase from previous year is due to £59,93512023: £16,6691 being reimbursed for Ukraine aid expenditure in the last year. Donations received from the directors and persons connected to them for the year totalled £118,01012023: £126,824). Page 23
Hope Church Orpington Notes to the Financlal Statements for the Year Ended 31 December 2024 11 Staff cost5 The aggregate payroll costs were as follows: 2024 2023 Staff costs durlng the year were: Wages and salarles Social security Costs Pension costs 473,061 39.035 45,718 412,168 32,600 39,120 557,814 483,888 The monthly average number of person5 lincludlng senlor management I leadership team) employed by the charity during the year expressed as full tlme equivalents was as follows.. 2024 No 2023 No Mlnisterial Support 12 li 1112023 - 91 of the above employees participated in the Oefined Contribution Pension Schemes. The number of employees whose emoluments fell wlthln the following bands wa5.. 2024 No 2023 £60,001- £70,000 The total employee benefits of the key management personnel of the charity were £244,96912023 - £186,1151, The chlef executlve officer, as the highest paid member of staff, received benefits totalling £6S,703 12023 £61,995). 12 Audltors, remuneratlon 2024 2023 Audlt of the flnanclal statements 10,500 io,ioo Page 24
Hope Church Orpington Notes to the Financial Statements for the Year Ended 31 December 2024 13 Taxatlon The charity is a registered charity and is therefore exempt from taxation. 14 Tangible flxed as5Èts Improvements to short leasehold Furniture and equlpment Total Cost At l January 2024 Additions 166,390 21,365 226.669 393,059 21,365 At 31 December 2024 187,755 226.669 414,424 DeprecSatlon At l January 2024 Charge for the year 157,024 13,587 195.248 31,421 3S2,272 45,008 At 31 December 2024 170,611 226,669 397,280 Net bookvalue At 31 December 2024 17,144 17,144 At 31 December 2023 9,366 31,421 40,787 IS Stock 2024 2023 Stocks 14,049 5,154 16 Debtors 2024 2023 Trade debtors 2,381 28,912 13,000 26,668 2.868 7,605 Prepayments Accrued Income Other debtors 24,389 70,961 34,862 Page 25
Hope Church Orpington Notes to the Flnanclal Statements for the Year Ended 31 December 2024 17 Cash and cash equlvalents 2024 2023 Cash on hand 287 I,iii 1.855,434 Cash at bank 1,627,081 1,627,368 1,856,545 18 CredStors: amounts falllng due wlthln one year 2024 2023 Other taxatlon and socSal security PAYE/NI Liability Provision Other creditors 12,571 10,427 631 1,922 24,620 8,560 2,248 61,082 2,000 Accruals Deferred Income 47,673 76,388 2024 2023 Deferred income at l January 2024 Resources deferred in the period Amounts released from prevlous perlods 2,000 12,0001 8,560 788 2,000 17881 Deferred Income at year end 8,560 2,000 Page 26
Hope Church Orpington Notes to the Flnanclal Statements for the Year Ended 31 December 2024 19 Obllgatlons under leases and hlre purchase ¢ontracts OperatSng lease commltments Total future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Land and bulldlngs Within one year Between one and five years 15,600 25,854 7,500 41,454 7,500 20 Provlslons St luke's Church splre 140,000 1106,9701 30,000 Total At l January 2024 Utilised durlng the period Credited to the statement of recognised gains and losses 140,000 1106,9701 30,000 At 31 December 2024 63,030 63,030 21 Penslon and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £45,71812023 - £39,120). Page 27
Hope Church Orplngton Notes to the Financlal Statements for the Year Ended 31 December 2024 22 Funds Balance at i January 2024 Incomlng resourte5 Resources expended 8alance at 31 December 2024 Unrestrlcted funds Generol General Funds I,S89,916 875,328 11,018,849) 1.446,395 Deslgnoted New con8regation5 Soclal actlon fund 963 19631 110,4751 12511 15,2231 11.3391 1361 13,652 251 3,177 Hardshtp fund Food distributlon fund 5,223 7,291 Mlcro mlsslon fund 5,952 75,012 Downham 8uildlng Purchase 75,048 27,380 75,048 118,2871 84,141 Total unrestrlcted funds 1,617,296 950,376 11,037.1361 1,530,536 Re5trlcted funds Special orferlng and collettlons Over5ea5 aid 511 7,319 1.450 350 13.2061 11,4501 18331 111.8801 122,4641 13.4731 139,2881 187,9861 139,1181 11,7061 12,7311 4,624 Mlcro Mlssion 762 279 West Wlckham Baby Baslcs Haidship fund Food distributlon fund 154 11.864 29,647 3,238 33,597 71,486 36,319 80 138 12,757 235 19,940 5.691 41,896 38,531 1,626 1,000 233 Ukralne fund 25,396 35,732 Regions Beyond Global fund Hope Centre New Door fund Mission Sponsorshlp Release Internatlonal 2,460 729 233 Together 25 Evenl Sponsorship Interns Support fund Warm Space fund 942 942 2,668 12,6681 267 270 103,663 201,423 1216,8031 88,283 Total funds 1,720,959 1,151,799 1,253,939 1,618,819 Page 28
Hope Church Orpington Notes to the Financial Statements for the Year Ended 31 December 2024 Balance at 31 December 2023 Balance at I January 2023 Incomlng resource5 Resources expended Transfers Unrèstrlcted funds General General Funds 1,663,129 887,650 1920,2631 140,6001 1,589,916 Deslgnated New congreg3tlons Repaii and maintenance fund Soclal action fund 963 963 100,000 13,652 1140,6001 40,600 13,652 Central funds and Infrastructure team 577 15771 14381 Hardshlp fund Food dlstrlbulion fund Mlcro misslon fund 689 251 5,223 7,541 5,223 7,291 12501 128,645 1141,8651 40,600 27,380 Total unrèstrl¢ted funds 1,791,774 887,650 11,062,128) 1.617,296 Restrlcted funds Special offering and collections Overseas aid 511 511 I,soo 600 11,5001 Micro M15s1on 162 762 West Wickham 154 154 Baby B3slcs Hardship fund Food distilbutlon fund Ukralne fund Regions Beyond Global fund Hope Centre New Door fund Mlsslon Sponsor5hlp Release International Gift fund Intern5 Support fund Warm Space fund 21,138 2,070 21,100 35,185 20,954 1,496 47,412 56,234 38,572 3,936 1,000 245 129,3351 13,3311 162,8211 149,5231 1411 12,3101 12,757 235 5,691 41,896 38,531 1,626 1,000 233 1121 13.6361 11,0001 1391 3,636 1,000 306 267 80,320 176,891 1153,5481 103,663 Total fund5 1,872,094 1,064,541 11,215,676 1,720,959 Page 29
Hope Church Orplngton Notes to the Financial Statements for the Year Ended 31 December 2024 De5sgnated funds: New Congregations - money Set aside to establish new conEregations. Repair and maintenante fund transfers have been made to th15 fund to facilitate repair of the spire at St Luke'5 Church Bromley Common. In accordance with a lease dated 23 December 2014 the charity is to repair and restore the spire wlthin S years of the date of the lease, Work on repairlng and restoring the spire together with other works started in August 2024. At the 31 December 2023 a provision of £140,000 was created (See note 201 thereby reducing the balance on this deslgnated fund to zero. Christ Central Church, Penge - are funds for mentoring services. Social action fund a glft was received towards the social action of the church. It ha5 since been clarifled with the donor that the funds can be used at the discretion of the directors who have agreed it will be used as far as possible for soclal action and therefore the income has been treated as deslgnated. Central funds and infrastTUCture team - money set aslde to facllitate the work of the infrastructure team. Hardship fund a fund to provided help for those facing flnancial hardship. Food distrlbution fund funds set aside to 35slSt the work of the Transform Bromley Borough Food Partnership initlative. Mlcro mission fund funds Set aside to facilitate smaller evangelistic ventures and initiatives. Restrlcted funds: special offerlng5 and collections - monle5 from special offerings or gifts received for a restricted purpose which do not form part of another restrlcted fund. The transfer out of restricted ftjnds reflects restrlcted income fully expended on assets for onEolng use for unrestricted purposes. Oversea5 aid this fund represents monies ralsed speciflcally for relief of poverty in overseas countries. Micro Mlssion funds recelved to facilitate smaller evangellstlc ventures and inltiatives. Haye5 and West Wickham - this fund receives Sncome restricted for the purchase of sensory play equipment for the Little Gems toddler group. Baby Basics this fund recelve5 income restricted for use in providing essential equipment, clothing and toiletries for women and famllie5 in extreme need. Hardshlp fund this fund receives gift5 for helping those faclng financial difficultle5, Food distribution fund - this fund receives Income to facilitate the activitie5 of the Transform Bromley Food Partnership initlative. Page 30
Hope Church Orplngton Notes to the Flnancial Statements for the Year Ended 31 December 2024 Ukraine fund this fund receives Income to provlde food and necessltles for faith communities that we partner with Ilving in unoccupied Ukraine. Regions Beyond Global fund - Gifts received to further the evangelistic work of the Region5 Beyond Global family movement that we are part of. Hope Centre New Door fund - Gifts to improve the infrastructure at the Orpington Hope Centre site. Mission Sponsorshlp Gifts to allow overseas Mission for those unable to afford to go. Release International - Money raised at events to 5UPPOrt Release International, Glft fund Small Gifts made for specific purposes within the church activities. Intern Support fund - Grants received to 5UPPOrt the church intern programme. Warm Space - Gifts received to help provide a warm space for anyone to meet and share hot food and drink. Based in the Orpington Walnuts HUB building. Together 25 Event Sponsorship - Money given to allow those unable to afford to go. 23 Analy515 of net asset5 between funds Unrestrlcted funds General Total funds at 31 December 2024 Restrlcted funds Tangible fixed assets Current assets 17,144 1,624,095 147,6731 163,030} 17,144 1,712,378 147,6731 163,0301 88,283 Current liabilities Prov15ions Total net a55ets 1,530,536 88,283 1,618,819 Unrestrlcted funds General Total funds at 31 December 2023 Restrlcted fund5 Tangible fixed assets Current assets 40,786 1,792,898 176,3881 1140,0001 40,786 1,896,561 176,3881 1140,0001 103,663 Current Ilabllities Provisions Total net assets 1,617,296 103,663 1,720,959 Page 31
Hope Church Orpington Notes to the Financial Statements for the Year Ended 31 December 2024 24 Related party transa¢tlons There were no related party transactions in the year other than those highlighted in Note 10. 25 Non-adlustlne Èvents after the flnanclal perlod In April 2025, the charity completed the purchase of the Whltefoot Chrlstian Centre for a total consideration of £780,000. The acquisition occurred after the balance sheet date of 31 December 2024 and does not relate to conditions existir)g at the year end. Accordingly, the transaction has not been recognised in the 2024 financlal statements. Page 32