Charfty R8glstratlon No. 1129257 Company R•gl•tratk)n No. 08828228 (England And Waleg) HOPE CHURCH WORCESTER ANNUAL REPORT AND UMAUOITED F114ANCIAL STATEMENT8 FOR THE YEAR ENDED 28 FEBRUARY 2026
HOPE CHURCH WORCESTER LEGALAND ADMINISTRATIVE INFORMATION Tru•1 MrDPSpws Mr J Dad$On Mr G B Haz8llon MrR JThomas M18RMBkn¥ MrP M Etlndge Soer•tsry MTDPSp Chlof•xKuUv• Mr R J Thoma8 Chorlty numb•r 1129257 Company numb•r Ce828228 R•gl8tsr•d offlc• Tha Gran•ry St Math Quart•r Wlorcasler WR12DA Indep•nd•nt •Mmln•r Grants Lod 71 Grthm Road Mvern Wcrfce8tefshl WR14 2JS 8•nkof¥ HS8C Bank PLC 6 Bioad Stro&t Worc¥ R12EJ
HOPE CHURCH WORCESTER CONTENTS P#9• TNtho$' raport Slat•m8nl of tru81ee8' re8pon8NJlhl8s Indap8nd8nt 8xamlneffB repxt &alem8nt OIffnand actVrtkn8 Baknnco shoot 9.10 W•s toth8 accc*Jnig 11-22
HOPE CHURCH WORCESTER TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 28 FEBRUARY2025 Th6 tnJ$to&s present thr pOrt and accounts for the year ended 28 Febrtry 2025. The rwort retat4s to th8 ¢h8ritsble compAny alon&, tt Is not pwt ota wup. The financial Slalernents have been prepared in a¢coTdance wlh the ac£ounluig sat out in note 1 to th finandal statement8 and mpty with the caritable cijrnpanls memorandum and artde$ of Asyodauon, tho Componies Act 20C6 and 'Acxounting and Repon9 by Charitles.. Statement of Rernmended Practice 4ppllcabl8 lo charives wgparing thtlr armunts In accordanee Ihe Finandal Repotlng Stsndard applicable in th8 UK and Republlc of Irdand {FRS 1021 leffocve 1 January 2019)". Obl•¢lJvo1 and actlvlfj The ch8rttable company's objects are to gdvance Cmsuan fdlh In ar%ordance wlth the Slatsmonl ol 58118fs sel out wilhln tho Artldg$ of Aasodauon In 3u¢h ways and In such pa of ffta United Klngdorn or world a$ to fulfll other ch8Atabk8 pufpo8OB that Connect wilh the (arflable work ofthg Clwrca. Thg pollclo¥ adopled In furlh8ran¢> of Ihg$8 otyad$ th8 pro8 ol publlc worship Seice$ wtth Chrl81ian leBching and pa$loral 8UPPOrt for al ag88, community bas •cliw"ties, ¢afg thurth activill8s, support lo to thosg wtth lrfe controljing issu&s, provlwon of transm Inlematlonal sijpport and olher 8UPPOrt wot Ic those In noed or 8uffethng. Th8r8 h88 b8on no th8NJ0 In thw durfng th8 ar. The truste88 h¥vo pald du? reg8rd lo 9danc?[$sUed by th Chwfty ¢)mmi#skJn in dècldino what 9th'tiO$ th• charhable cornp8ny Bhould undertak8. and are saU$fied that Iho$¥ described l)¢bw prov4d• publlc bènofft. 8tru¢turo. oo¥0rnan •nd managom•nl The ¢harltable company Is 8 company llMed by guarantse Inr>)¥poraled * England & 1th10J on 24 February 2009. The ¢h8rftAblg company Is govwned by It8 MwMor8ndum & Arlldas of A88OaatS0Tr. Th¢ tN8lee$, who Are &180 the dir¢ctorn for the purpo89 01Mp)Y Iw. nd who 8•rvod dung Ihg y8ar qnd up 10 tho dat• of sIgnatO ol Ihe flnanaal Btstemenls wer8.. Mr D P Spler8 Mr J D8vidson Mr G B Haz8lton Mr R JThomas Mr8 R M Blow Mr P M Ettrldg Tho IruBle83 are dmvn from tho MefflberB of Ihe thariiablg ty)mp8ry. None oflhe trusta68 ha$ ony b6n•firial inte$t in the ¢hothabla company. Al ofthe trusts•s are memberB of the cornpony and guardntee to contribute £1 in the evenl ol a windin9 up whilsl ¥til ) mernber (yrwilhin one ar of e8a8irw lo b& so.
HOPE CHURCH WORCESTER TRUSTEES. REPORT (CONTINUED)IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 28 FEBRUARY2025 Thg Iru¥19es are responslble for th8 management and odmiThlstralh)n of the Churd)s propèrty and fltnds In accordance with the Mernorandum and the Artides of Assouation. Day to day man8gem8nl of actiwbes Is d818galed to Rlchard Thomas who acts as ehlef execu. Remunarauon Is sot by thg Board of trustees havlng due fegafd to tho a1108 Dndertaken and run•raI0n of ith18r posts lrt th• thurth ¢xJmmunity. Upon appolntmont 8pproprfalo tr8lnlng and gukn l¥ gjven 85 to the rob and respon8110 ofa InJ8ta8 wlihSn tho org8nls811on. M08IThJ¥ are required to bo held at lea8t three Ilrne8 a year at Ihe charttabl8 and flnanrA¥l 48pe¢ts of th8 org8nisaUon are con81dernd and to be taken detem)Inad As nacas8ary. Thi¥ Indude8 the setting of remunerauon for Iho80 employed hang duè rogard to1891118lfve r8qulrem8nts and of remuneration pa6d by 81mllar organl8allon8. Intèrèsls In Ir8n$8cUon¥ by rtu0 tsl relatsd parUe8 aro dedared al rneelkna8 and reported th8 notes to the fin8ndal ¥talemonl8. The acllvltl88 of th8 Chuth 8rn man8g8d for tho thaTty by th• fknng ststr. Mr R Thomai Mr J Hgrp•r Mr D Sple J Harp MI D Dow96 - Full Um• ¢hur¢h work¢r Chtef Exe Full tirne churdj worker Part tlme Admln Part tim8 bulldlng manager - Port tlrm car8lak•rld•arw h118t tho charftablé •¢¢tor ha$ ¢onth)ued lo f dwllonges 0r Iho last year, with effethve financlal control8 and a car¢ful budgot, we have managed lo achleve g¢>Jd re8ult3. Contlnued gmng towords our Granary bulldlno prolgd ha8 fjnabd us lo c¥ynpfete the prleca and en8bd u8 to athievo our charitabla oL¥èctiVOS.
HOPE CHURCH WORCESTER TRUSTEES, REPORT (CONTINUEDXINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 FEBRUARY2025 Achlgv•rnent• and p•rfom)an Throughout th• pgrtod w• ha provld•d pubn¢ neM through thg followlng... . W& hav8 agaln mahtslned fflnand for a traInI srool for ¢MmunhY knaderB from Rwanda anil Uganda. Wg havg holped f8(alitats croBS c#Jttur4 tralning. We have once more &ngaged U.IC Crd% In thè (artAble Ink to Uganda reSU.n9 In furthar glft8 from other tharltle$ towwd$ MedIc ald. W8 hav0 traVeld to Uganda to partldpats In a 8enlor feadarnhip o)nfw8n¢ holplrvJ lo an frrture dev8lopmeTII. . We have F4ann8d a)d run a W¥rence for 1101 18adorn of grouplng8 In East Affi¢a. enCUragIn9 be51 pra¢Uce In ¢ornmunty aderShIp. We have run monlhty Zoom mas9 for the en¢oaryemwt ofthurch 58adofB around the U.K. . W8 hav6 continued to provtde worshlp 88Nl¢es by rne of 3 congregadcffl8 meoung In Th8 Granary, vAth teadbing and pastoral Bupport. l thwe corvJr6galn8 have grown numarlcdty. Our communlly groups havo b9sn r•v8mpod and r¢t•unched. wlth 50% attendance re. W8 hav8 agn njn DSng$ Groen youlh gr¢Jup in Ihe cOmrnun centre. Support conlinu6s lo those $ufforfng from addi¢iion8 ol ¥arfou$ kJnd8, menlal health 1s8uo8 aThJ homeF•ssne83. . W8 have contlnusd wtth bng temi yonIe6T menlorfng r8lallon8Np8 wllhln Ihe Sunday evgnSNJ conget10n, partlcularty for Ihose th Ilf& o)ntrolliig Issuas. have continued Ouf partner8hlp wFth Tho Good Sod Trust In provkllng SUPPOrt for a nUmr of lon rwm unemployed lo att8nd woth w•iisnc. We hav6 conllnuad th& rwlew and dévelop ofour htJth and iafety Oiry. We havè ntIfi to lrnin naw vdunleers In fo hyglene and pjanned knrtherfir81 ald tralnlng. W& havg r8w8w¢d our safeguardtng d8vdoped a er leam ol tf8in•d paople to be ablg lo consult, Our buUdlng18 bdng u8ed by many o)mrnunlty groups ond acM•s. We hBve lermly childr8n's crall momln9$ forth$ comrnunrty. We have agaln partnew th& ¢oun¢il In runng the Severe weather efflergerw nlghl $hdter for Ihg hDmelfJ$ dudng tho wSntsr monlhB, U8iThJ our bulldlng. Insurgnce h¥$ been rnwewed and 8xlend6d to COV8f both the Inryaad vlu$ of th¢ bulkllng and actfvfNe8 In the bulldlng. W8 ron a camp 8psciflcaVy lor Iho86 from sknHar 8odal gcthn 08 oursalve8, 1OCAng Ilf8 controlling dlfflcullies, from around Ihe U.IL We hav8 proed Sltppryt. 0ClIng and aofvice to othor thurches. partiu48rfy to thelr leadershlp team$. In the wesl Midland3, south Wales, Derbyshlre. MAnchoSt8r an¢J Kant. We have parfnered wtth th8 folWng eh81itsble group$ to wtsde low cost event l tr8lniw venues. Em•rylng Futur9• - with F4oF4e affecled by hometessn888. drug and alcohol problems and physlcal and rnental heath needs. Chlldren'8 Soelèty prodIn9 $upwt that empuwern young people to make posthve changes 8nd r8di3COVgr Iheir hope. CCP (sP) - Prevènting th• c8tts8s reduiyng Ihe effe¢t$ ol hometewè8s, famty breakdown and èxclusion sSnc8 1989. Worce•ter Mèla - using different cuftures, ct)hJurs and croativfty to brfng unty in thè dty. Dancef8$t . creating Opportun¢8 for peoplè In comrnunity to take part in d8nce 8nd. if th8y want lo, perform. AJ¢ohollu Anonymous Clangtoun, Wong th Ihose 18+ struggdwig with a1h01 or dnw intske. Magg$ day centrè. CCP- ded8t8d to prev3ntiTra the causes ol hoff*lessness. Hereford and Vlorc•st4r R•cov•ry and Wgllbelng Cvll M•la- a group working to unite Ihe ¢ity through and 17eaiNity. Worc•stsr Communlty Gardeng Evorybody Dance- a company aiming to bring togother able bodied and disabled through darTh. Yellow Scarf- SUPFQrt groups lo halp overryyne thaU9nge8 of isola1Tr and di8placemenL Aspeora sup0rng migrants wrth ajra1 iswJe5. Dlobet88 UK
HOPE CHURCH WORCESTER TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2025 Pl8ns forth8 fLrtur• Thg thg1itatAgrfflp8ny PTor<ws to Itwg In ts L¥thng ybar 8nd devebp tham luthr. Flnan¢lal rnvkw W8 have agdn ftjndloned effo(e fftwKa81 cthrols ad1j good rlIs. clInud prudont budgollng has &bled us to aththe ojr dwrltablo objeclves and mainiain rea8onabl8 free reserves 88 d8talled Tha net for Ihe yoor k8 £9.343 12024 - £20.$73 Incom) of %thld) a of £35,498 12()24 - £21,411118 In c4nnectioD wllh urwe8trl¢tsd 8clfvtUes and 8 defictt 01 £44.84112024- tB381 In ralalon to r88tricted actlvltles. Total re8eNe8 at the repcthg date aro £1.468.41512024 - £1,477,758) of whlch £9W.65012024 - £945,491115 rostrfcted. Full detal¢s of the restricknj lund8 cart be fwrKI In Iha ntstes ae¢ompanylng th8 IIABndal gtal8ments. After extr8thng tho 0ndry1 F¥QP8rty And fix•J a888ts th1818av88 free reBerves of£136,989 12024- £101.4911 avallable for unr8strlrAed acbvlues. It 1$ the pollcy of thg ¢harfl81)18 company that unrgstrtdad funds whlch havo not bgen dgslgnaled foT 8 8pgdfi¢ us& shoukl be malntsined 818 level 8qUiV818llt to bets¥88n three oThJ six nTh)nth's expgnditure. The Iw8t8Bs on$klors that rtssarv&s at thL8 knvel 11 ensure thaL In the event of a ¥lgnfil drup In fuThJlng, thèy wlll be 8bk9 lo contlnue Ihe Charitsble coftynY8 CUrrt adNIU88 th c4Xk8ucffl Is glven to way8 In whl¢h addlUon81 funds may b8 r8t88d. The trust have as8888ed the rf8k8 to th thè d)8rlt8bl8 LWanY16 eX[J, &J are safj8ffled that 8ystsm8 grn In place to MJaIe &xpogure lo th& ii8ks. Thls reporthas beefi prepsr¥d kn a¢<*datKa th& wAlc4)te to r1P&nI08 suwgrtto the 8mo11 ¢omp8nl8l ragkno. The trugt¢68' rwt was epprov•J by the BogJd ofTJust MrRJThom Tru8tee Dated.. 12 May 2025 Mr D P Spl•r• Tru8teo
HOPE CHURCH WORCESTER TRUSTEES. RESPONSIBILrriES STATEMENT FOR THE YEAR ENDED 28 FEBRUARY2025 The trustees, who are $0 Ihe dwectors of Hope Churth IAkJrcester for the purpose of c4)rnpary law, are responsible kn PTepaMo the Trustaas, Report and tha financial slalemants in acts)rdance applicat48 law and Untted lfjngdomAcLounting Stsndards Iunttad Gan8rlyAcPted Anng PraL#icel.
HOPE CHURCH WORCESTER INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE CHURCH WORCESTER I reptyt to the true on my examinalh)n of the firwKial statomonts d Hope Cl¥Jrc trCeSter (the tharitable eomp8ny) forthe year ended 28 February 2025. RgSpon8lll198 and ba818 of r•port As the trusteas of the eh8rltsblè 1MpanY land s0 its dlrectors for tha purposes of ojmpany Saw), you are sponslbl8 lor the preparalon of the finan0 statements h acrtordaned wlth the fequlremeTrts of the Companles Aet 2006. H8vlng Sa6f18d myself that the ffinandal statemonts of tho tharftable c4)wy are not raqulrad to bg 8udlt•d ursder Part 16 of the Componles Act 2C¢6 and ara ellglble for Independent examlnatton, I ra1 In r8SPO¢t of my exarnlnatlon of thé eh8rft8Na eompanls fina31 8tatem8nts carried oul undèr 8eclon 145 of the Ch8rEUè$ Ael 2011. In crylng out rny gxarninauon I have ftknved Ihe c4ron8 gfv•n ty tho Chgrity cornm1ll under seclon 14515llbl oflhe Ch•rfUe¥Ad 2011. doPondgnt•xamln•rf• •tat•rn•nt Slnce th& chadtsbl¢ ¢ompany'$ gro$8 Incorne ex¢e8ded £250,C. Indondl examlner st be a member of 8 body Il¥l¢d In $edbon 145 of Ihe Charllles Ad 2011. 1 conllrm thal l •n 4ualfied to und8rtake the 8xamlnaUon bacau86 l am a member of ICAEW, 1th18 ono ol Iha ttsted Wss. I havo CO8d my examknatlon. l ¢onllmi Ihat matterd come to my aitthon In o)nn•¢tlon wrth th• oxamlngtlon gmng ma causè to bgll&wa that lrt any Materf resp8Ct.' accounlng r8cord8 wer8 not kopt In of th• ¢harft•blo company a8 requkod by et)n 386 of the CompanlesAct 2008. the finanrApJ $tstsments do not acrd wSth thos8 r•ts)rd$; ftnandal 51al¢ments do not ¢ompty 7thlh the accoundrvJ rnqutrern8nt8 of le¢0Th ofthe Companlo8 A¢t 2008 other than any requlremerrt that the lInand 8t8t8m•nts gfvg o true Ind falr vlvw. %th1th18 not a matter 8lder8d As part of an hwjependent examlnallon.. or the financ1 ststemenls have not be8n prepared In accordgrteo Wrth the m8thod8 And prfncl)188 01 the Slalemont of R8¢ommended Prn¢U for accxxtntiNJ and fepoth9 ty charfues 8pplIcaa lo tharft188 propadng tholr flnaneial stat8mènts kn o*xtyd¥n¢e with the Flnandd Repo(ng Slandgrd applicat4e In tha UK gnd RgPLtbll¢ ol Irdand IFRS 1021. ave ms and have come acros9 no oth6r m8ttèr8 In ¢wnedon wllh th8 examsnaOn to which attenlon n In thi8 r6port in (wdar to Énawo 8 proFer undern1ng olthe fin8ndal $tstements lo ke reached. ra Elyzabelh Ne am ACA CTA (VAD Kèndaif Wadl•y LLP Grnnta Lodge 71 Graham Ro&J Worcostar8hire 114 2JS Dated.. 12 May 2025
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HOPE CHURCH WORCESTER BALANCE SHEET AS AT 28 FEBRUAR Y2025 2025 2024 Fbx•d a•••ts Tanglble ats 14 1.887.110 1,723.118 Curront a8S•t4 Doblors Cash at bank and In hand 16 21,951 74.545 19,219 82,855 ,498 82.074 Crodltorn: amounts hlllng du• Tithln on• yur 17 {18,089) 119,3651 Not Curront AS80 80.407 62,709 Totsi i•••to1•4• curr•nt Il•bllMIo• 1,767,517 1,785,827 Cr•dltOV8.' mount8 f•lllnq du•aft•r morg thin on• y••r 18 1299.1tr2) 1308.0891 N•t4uèts 1,488.415 1,477,7S8 Capltal fund• Endowment funds In¢omo lun R•¥lricted fuTrJs Unre8lri¢tod lunds 4Xt.n8 430,778 21 ,650 136,989 945,491 101.491 1,488,415 1,477,758
HOPE CHURCH WORCESTER BALANCE SHEET (CONTINUED) AS A T 28 FEBRUARY2025 The charltable CoMnY Is tled fo th8 mP1k)n from the fthl r8q¢knnant oJntahd In sectton 4n ol the CompAnle8Ad 2006. for t1 y88r 28 F8bru8ry 2¢Y25. No mgrnber of th9 rmPanY has d8poslted Th)tlco. purnuartto 89(Jk)n 476. rBquiring an 8¢Mlttof Ilse ¥tounl8. The dlrectors ackno8 Ihelr rasponslbth ensurttvJ that Ihe ¢h8rftBb o)mp8ny keeps aCcounng record8 Ich eomply ¥th sedon 388 of thg A(a and for preparfng xecounts vthlth a Injg and f81r eW of the stste of affalrs ol tho charitat48 company as at Ihe and of Iho financlai y8Ff and of lis Incfymlng resourc and applation of resources, )dudlng K8 kn¢¢mo aNI 8xpJ[bJrn, lor the flnanclal yaar kn ac0)rd9n ¥th thè rgqulrèments of S6Ctlon8 394 and 395 and whleh 0th8Thth c(M7)Y w(th Ihe requlraments of tho Companles ALI 2006 relang lo accnts, so f8ras 8Wk8ble to tho dwltsble cthwy. Th& accwnts h8vo be•n p¥gp8rad h 8¢Wftl tr opp1ka• lo ¢omp8n1$8 to the 8m811 companies, reglm8. Th& flryarwl Jrat8ments aPPToved by th• bwd of (lJr*XLV8 8nd autho tr1$8u8 on 12 May 2025 and ar slgn on ts bohasl by.. rDPSpknrn Tru•t•• Mr R J Thom8B Tw•tsg Comp•nyR8ql•tratlon 06828228 10-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUAR Y2025 Accounllng polcle• Cornp#ny lrtfornmtlon Hope Church Worcesler is a charitable company Ilmitad by guarantse incupor8tod In EngL4nd and Wales. Th& r9glsl4r$d offe Is The Granary, St marn$ Quwtw. Wtsre4ster. WRI 2D 1.1 Accountlng ¢onvonllon Tho finandal slat9mont5 hm preF1 In a(J)ydaA¢ wth tho tharitablo oynpanV$ povamlng docum6nl, Ihe Companles Act 2006. FRS 102 7h6 FinaTrc4al ReporDng Stsndard appllcable in the UK ond Republlc ol Ireland. fFRS 102? and tho Charttl&s S0RP'Ateounng and Reportin9 by Charftlas." St8tem6nl of Recommended Practteé opplrable lo charitse8 pr&parfng Ihelr 8ceounts in acLordance 1th the Flnanclal Reporung Standard applcat48 in the UK and RepublK of Irdand {FRS 302).(off¥8 1 January 20191. Tho ¢harh8bltr company is a Puboc Ben8fi1 Enlty as definod by FRS 102. The tharltat48 cornwy ha8 18ken aokntaga of th8 pro81 In the SORP for ¢hgrlllos t to prepar8 a stst¢monl of FttrN8. The financial Statements have departed from the Chanb88 (Account¥ and R8POrt$l R8gulalions 2008 only to Ihe axtanl requlr8d lo de a true and falf vi6w. Thls d8parbJr8 has Invrkngd folwng the Statemenl of Re¢dmm4nd8d Praetlce lof applySro FRS 102 rather Ihan Ihe vwslon of th¢ Ststament of Recommended Pra¢ll¢o wNth * refer lo in the Rwbuons 1Wh ha8 SIn been wllhdrawn. The fina1 8lalern8nts are pr8pared in $terfiThJ. whlch is Ihe hjnctional r)JtYon¢y of lh8 tharttable company. Monotary amounts In these fin81 slat8m8nts ar8 rounded to tho neare81 £ Tho stat8ments havg bogn propAr•d undor lh8 hL8torlcal oJ8t C4Jnventlon. The pthdpal aox)unUng pollcle3 adoptgd aro 8•1 ¢ul bebw. 1.2 Golny ¢one•rn At tho Ilmo of appng Iho flnandd 9tatemanis. the Inth8 have a rea$onab10 wpect8ll¢n that the charilable company has adsqualg lo o)nlinu• in wrational Sten for the foreseeable future. Thus the Iru8teeB continue to adopt lh8 concern basls of acg)unUng in proparfng tha finandgl atoments. 1.3 Charltablv fvnd• Unrestrf¢Xed fund$ ¥r8 awilable for Use at Ihe ths(xetk)n ollhe trusto91 in further of thelr charttable ¢blgdiv81. Restricted fvnd# org 8ubie¢l to ipeafic by dcaws orgr¥ntors as to how Ihey may be u88d. Tho purpos8s and uses of the rostrfcted lunds arn sel out in the notes to the finanrjal statomonts. EndOwrntfijndS r•pMs8nt tho bulklh)g qfftad to thè by th8 88pUst unn. the cailtal mu81 bo malntslned by the tharitable o)mpany. 1A Incomlng rnsour¢•s In¢omè Is recognised when th8 iarftable company Is W entmed to it after wy pthfomwice condffjons ave been met. tha ameunts ¢8n b& rrwurgd reli8bty, and it is prOtsab that Income 11 be received, Cth donally)s are recogni8&J on receipt. Ott d¢)natron8 ar• r8¢ognls8d On the ctharitable company ha8 trA8r> nolifigd of the donation, unless perfomianc8 cond'0n$ wuire defernl of the 8mounL Incom& tax recoverab in retioN to donat¥)ns rec8wI under GiftAd Lydèeds of covanant is recognised atthe time of th& donatbn. ) value is attributed to Ser pro¥Ad8d by voknrrteers wlthln these finan1 aiwnants 85 such S•e&S cannot bo'soby and thè offalr valu&wo[ ov¢rstat thè valu& ofts)nations Eo the tharity.
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2025 AccOng pollcl•• IContlnu•d> Debtors rePTrI arnounls rywed lo th8 (arty for gfft atd oramounts paid tn advan lor 8eThlc6s to be recel¥ed, m8asured * the re¢>Mrable afflt 1.6 RoTreS gXPond•d Expendrturo Is recognl8ed onc8 thera Is a fo9 or conslrLrthè ¢)bllgadon to trangfèr 8conomlc bènofll lo a thlrd party. N Is probablo that 8 transfar of •conomlc benfil8 wlll be reqltirod In $ethmonl. and the amount of o oNg¥Uon ¢on b• m¢AWr rollabty. Expendtture 18 da8sified by 8ctTrity. Th8 COBt8 of each alty are made up ol the total of direct costs and ehared costs. Indudlng support costs Invofved ITh undertakitvJ oach aclwty. tlreL# costs attrfbutablè to a 8tsigl• actlwlty are Cated directy to that adjthty. Shared costs whlth conffibut• to mor8 than onè 8nd support costs whlch 8r• nol attrlbutabla io a singlè athty ar9 apporUon¢d bo1¢&n th0$0 a¢tlwlies on a b0811 con¥isl&nlwilh thè uss ol r&80ur¢¢8. Cèntral 3tsff 8t5 are alloted on th? Im1¥ olttme spent. and d8prerAallon charge$ aro aUo¢ated on porfy'on ofthe SeY3 use. Expw(Iturè recognw on an aocruo18 ba819 u a11gbMIty thrr. ExF4nthr8 InclKl¢i ony VAT whlth ¢annot b? r¢eoverod. CharItae eyndfture MpSe th080 C18 klJIT•d by the ¢tharlty In the dery of ll8 acthlUe8 and 8ervlc8s for tt8 beneftdarle8. 11 Indude8 both costs that can bo aNoc418d dlrnc to 8uth advM88 And th08e ¢08t$ ol an Inthect nalur8 necessary to supp)rt thom. Credilorn repre8enl the arnounl the chwfty anJdpate6 6t wlll pay lo setlle a debt or a provlBlon forgoodB and 8ervlces It has received not yel Involced. me88urnd at settl&mont anwJJnL 1.6 Tanglbh Ilx•d a•••ts Tanglble fLYod ays8ts ar8 Inffj8I mao$ured al rA)•t and aubwLwIty moa8ur&d 41 $1 or v¥luatlon. n&1 of depredau 8fK( ony Smpalmnt k?e Dgpreci8tion18 recogn18 x a$ lo wrft• off the o)st Of ¥8kwlh)n of a88ets I thelr reildual value8 over thelr useful Ilve8 on the followlrrfd bo8ets.' Freehoky tand and Ixthkng8 Flxturès and fltllnus Ir 2S% $tr8fjghl Nono unUI The galn or 10s8 ari8lng on the dIs8a1 of an asset 16 deterniln8d as th8 diff0r+r b8tw8an ihe Bate proe•¢dJ and th8 canykng vduè of th8 ass•( Is r8¢OgnI In th8 *t•mwl offin0ndal 8¢tiv?¥. 1.7 Impalrniént offix•d a88•ts Al each reporting end date. the cIMiitablo o)mpany reth the carylng Thunls of tts tanglbl8 as68ts to determine whathar there is any indicadon that ihose assets have sufferad an Impalm)ant r0$5. If any suth Indicakn e¥th, Ihe r4¢0¥0rablo amwnt of ts a3¥et i¥ •¥timatgd tsb Ot6er to determine the extent of tt)e Impalrment k)ss (If any). 12-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2025 Ac¢ountlng pollch• (connU9dl Reo)vwabl¢ amount 1$ the hlgher of falr vakte Sey8 IXJ8ts to 8eH and v4uo ts) use. In asses$lng valu8 Usè, the eslimaled ftrtLtre cash are discounted lo thelr present u8 using a pre-tsx discount rat0 that reflects oJrr8nt rnarkel assessments of lh lim$ valw of money and tha rtsks 8peafic to the •ssel for whlch the estim8t68 offijlurn cash kn have not adiustgd. 11 th6 recoverab arnc#Jnt ol an assat Is estlmatad to be les8 than its carylng amount, Iha carrying amounl ol Iho as80t Is r8ducad to its re¢owrabl8 amount Am Impainn¢nt loss is recolSed Immgdlalely In Incomel lexpgndmuie lor tho yèar, unless the r81evant as3et 1$ carried al 8 rAlUed 8mc¥Jnt. in whlch caw the ImpaiTrt kn88 L8 treated 88 a rev&10 decrnas•. Recogni$¢d Impalrmonl Io$s•8 are reversod rf. and onty rf. the rga8on$ for the Impalmienl loss hav8 ¢aa8•d to apply. Wlere an impalrmenl bs8 subsequantty reyerses, Ihe c4rrylng arnount of thè 9838t Is incr8a3ed lo tha rased 8811male ol Its recovarable amount. but 80 that th• kn¢xea8ed Call9 amount do85 not exceed the cèrrylng Amount that would have b09n doteIned had no inpalmiwt108$ baen recngThl8ed tor thè 88SOt In prlor year$. A fevernaf o18n impairment bss Is r8cognlsed Immedlately. unb986 Ihg rglfrvant asset Is carrled In ht a revaJed amount, in whS¢h r4se the revarsal of tha Impalmwnt 1088 18 tr98tsd Is a revaluatton 1.8 Ca•h •nd ¢•ih oqulv•lont• Cash and ca8h equlvalents Indud8 C88tt In hand. d8poslt8 he 81 (ll ¥Ath bank8. qnd othw 8hort.t•mi Ilquld Invostmn18 } origlnal maturftio8 ol Ihw mwlhs or1•8S. 1.9 Flnanclal In•trument• Th8 charllable company ha8 ¢1othd to the thsb)n8 of Sacllon 11 '888lc Fina¥1 lThstrumants' and sO¢0n 12'01h•r FlnanrAal Instrumwts Issu8B' ol FRS 102 to 4 of Its flnandal knstruments. Flnandat Instrumenls are reCog$8d in the charttable companV8 bafance slwel whén th• thartt8ble company bgcornes party to the conlractual pro$10n6 ol Iha InslNm8nl. FInan as$e¢8 and Ilthllki are offseL wlth the not pmonted th th• 1kn8ndal 818t8m8nls, wh$n tre13 a legally enforCeae rtght to sel off the recognlsed amoLuts and ihere 18 #n IntanOn lo sotde on nel b8s1$ Of to rè81i$o thé assd #nd 8¢tde ¢h• Irdbihty limultanuSty. Basle flnan¢lalass•ts Baslc flnanaal assets. kab thdud• other and cash and bank baLqnc48, are Inhl<y m088urgd al tran8a¢tlon prlce Induding transaction costs and are subsequenlty ¢athed 8t amortised $1 UBlng the 8ffectfve Interest melhod unle88 Ihe arrangement consbtules a financlng transaction, wherg the transadlon Is m888ured at Ihe pr998nt V8hJ8 olthe firtu r8c•tpts discounted al 8 mathet rat8 of IntgrnBt. Bask flnaKlalHal)Uhl•s Baslc finan81 Ikibililes. IncludlThJ other payables. are Inthlly rec4Jgnl8od at trpn8actbn pri unloss the arranment c4)nstrtutos a finandng transaction, whare the debt instrument is measured al the present va0 of the futur8 rewpts d15eounied at a rnarkèt Tate of interasL A(wunts pay3bla aro thssthed as c4rrgnt Ilabllrtles rf payment is due %wthln one year or Jess. If no¢ they are pre8enled 4$ notxurrent Ilablllues. Amounts payable ale recognlsed inftlolty al trsaC110n prke and subsequty measur1 81 arncrllwj o)st Ung Ihe 8ffactNo inlerg8t rn9ttH)d. Dor•eognldon olllnanclalllabilili nancial liabiltties are derecognised when the Larftth ¢¥)Mpan5 o)ntrac4ual I)Mgati$ axplrn cf are di$L*argad or Tr¢e. 13-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2025 Aecountlng pollelqs Icontlnuedl 1.10 Employee bon¢fft• The cjjsl of any hoMd8y enYllom•nt b wntsed in the in whith the emF4oyee'8 ¥thco$ ara recelved. Tamilnallon benefft8 ore recognlB•J knmediatePy as an 8xpen8o th8 Lbarftabl8 company I d6monstrably eommltted to terminate th8 em0yrnent of an amploye8 orto prode tsmilnadon b&neffts. 1.11 R•tlrom•nt nafflI Payment8 to defined txffitrfbution 1ellrernrt benefft ScJo8 are chwged 88 an exponse as thoy fall due. Crft1¢41 a¢countlng o•tlm4t•• and Judgom•nts Irt tho 4F4l¢aVon of the tharhabla o)mp8n8 polld•s. lh• lYusto•8 •ro r•qulr8d to make judgements, e¥llmal¥$ a$sumptlons about thè carrying amount o14s¥ots and lioblltti89 thal arè not readily apparent Irorn other 80urce$. Tho ¥sYmaltr$ and a$sod8led a$¥umpUons are based on hlBlorfc81 oXP$rtonc• and other factors that are conslderod to be rd$vanL Actu rn8utt8 moy dtffer from these 88tlmats8. Tha 8ilmat•S and undertying 8s8umpUons are re&Wed on an oThJolng ba818. R8vlsions to a(xounllng eallm8ts8 ara r•cognl$8d In thè pertod In whk tho astlm•t8 18 ra96d wh8rn th8 rslon off6ct8 only that perlod, or In Ihe pertod ol lh raOn And luture p8rfod8 who(• Iho revl$lM affo¢t$ both ¢urronl and futUf8 F4riod8. In¢om• from don•llon• and 1ogacl•• Unmtrl¢t•d R•8trfct•d fund• lunds 202S 2025 Totsl Unrntrlet•d R•tdct•d fund• fund• 2024 2024 Total 202fj 2024 Donatkfis and gm8 234.657 89.682 324.339 211,808 83,473 275,081 Incom• frorn charltabl• •cltrthl Unrg•trl¢tod Unr¥•trlct•d lund8 lund• 202S 2024 Roorn hlre 35,892 31,822 kncome from Inv¢stsMnts Unrestsl¢ted Unr•strf¢tsd fund• fvnds 2025 2024 Interest receab -14-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY2025 Charltsble 1¥1119• 2025 2024 Staff co8t8 Deweck7tion and impalm CommunlcaUon8 Evtrnls Glfts Insuranc88 Prem18e3 Buikllng Furtd R89ion¥l ¢yTrdtturo Sundry Suppli88 for¢harttable 8LvJU08 Travel and ¢ontsronces 178,201 38.116 3.241 81.729 11,131 5,216 19,639 8.710 150,223 3,28e 4,178 49,409 1,200 4.297 28,791 1,107 3,070 9,883 2.384 5.208 10,422 2261 Share of 8W)port CO81818ee note D Sharo Ofgoveman o)sts18ts not* 7) 78 81 3.680 344,950 281,229 AnatyBl• by fund Unr88triclod lund3 Re8Mcted funds 241,170 103.780 344,9SO For th• yg•r •nded 29 F•bruary 2024 unre8ct•d fund$ Roilrfdfjd lund$ 211,441 49,788 261,229 Support co•ts allocatsd to •cllv 2025 2024 88nk Ghwges GoVe[nan eosts 81 3,580 3,078 3,e81 Analys8d betswon: Charltable aclivities 3,078 3.fj61 15-
HOPE CHURCH WORCESTER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY2025
Support ¢0gts •ll¢)catsd to actl¥NI
Icontlnuedl
2026
2024
Gov•man¢• eo8ts ¢omprl••:
Atar0
3,000
3,580
3,000
3,560
Gov8manrA o)8ts Indudè paym8nt8 to Iha Ind)8lent •xamkngrs of£3.CrfXI (2004- £3.5601 for accounlan¢y
N•t mtsv•mont In fvNd•
2026
2024
The not movement In fiJnd8 * 8tsted after (arg1ng1{¢7th.'
Doprndatbjn of¢y•med twlble ft
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 28 FEBRUARY2025 10 Employe•¥ Numb•r of gmployg91 The average monthty nurnberol•mpk)ye8s durfng th& year was.. 2026 Nurnbor 2024 Numbor Eldernhlp Admlnistratkn and iup 2.00 1.00 3.00 Ettwloym•nt ¢o•ts 20 2024 0¢$ and s81@d88 SOCI 6ecurfty costs other peD¥bn cost8 150,380 9,578 18,243 127,C3 7,505 15,715 178,201 160.223 Th8 numbor of pIOl whos¢ annul w88 £00.000 or mor 20211 Numb•r 2024 Numbor £60.{P. £70,0 ConlrtbuNons totsllng £14.2841224 - £14,288) ww& made lo J0fin•d contribuuon poTr8kJn Bcheme$ on b8haMolth& remunw8t8d truste86. fl Clther Unrn•trk¢od RtrIct9 fvnd• Totsl Unreslrtctad RestriL8d fuTrJs fund Total 2026 2026 2025 2024 2024 2024 Finandng ¢t 24.440 24,273 25,363 24.440 25.393 1.090 24,273 25,363 12 Taxatlon The (*arity Is exomptfrorn tlon on rfs &tivillos all its SrK4)me ap1 for tharitabla purp06eB. 17.
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2025 13 TraT* Tran8fer8wefe betrmen unreslrhxed frjrth and restr1¢Xeil funds a8 shM In Ihè rnstrfctgd fund nots. 14 Tanglblg fixod a•••ts Fr••hold landR•lurblthmort FlxturB• Ind bulldlr fftUng1 Co8t At l March 2024 Addllion$ Tran818r 430.778 1.283,780 24,370 2.108 1,n8,926 2,108 1.283,780 (1.283,7801 Al 28 F¢bnJary 2025 1.714,558 26,478 1.741,034 D•pr•¢lAtJon Ind ImpalrnMnl At 1 March 2024 Depr8datkJn thgrgad In th8 yw 15.808 3.825 15,808 38,116 34.291 At 28 Febru8ry 2025 34,291 19,833 S3,924 Carrylng 4mount Al 28 F$bruary 2025 1,e80,265 8,845 1.887,110 Al 29 FebNary 2024 430,776 1.283,780 8,5S2 1.723,118 1S D•bto 2026 2024 Amounts fAlllng du• wmhln on• yur. Trade d$blorn Othèr dablor8 PrepaymlS accrued Income 788 9,732 8,fj99 8.528 12,985 21,9S1 19,219 18-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2025 16 Loan¥ fftrdroft• 202S 2024 Bgt kJan8 308.191 318,740 PayaLqo wthln ¢n• y•ar Payabl8 after ono yaar 9.089 299.102 8.680 3Cé.C69 A18 [luded at>ovo whlch fal due after fve yew¥'. P8yabl8 by In8talMts 257,924 258.048 Thg lontrtwm 10ort$ ¢omprl$8 a mrt9998 th? r¢fvrblshmonl of the proparty and a B0ch 8a¢k logn of £,0 plu$ Int$r981 recved through CoroTh08 fvndlng ouarante¢d by Ihe Gov8mm8nl. The lemaln9 lerrn of the mortgage a8 al 28102r202518 25 yearn 4 monlhs and tho Int8r8s1 rata Is 8.85%. The Bounce Bac loan wos lor a pertod of 10 aS from October 2020 ¢Jrrlo1 Intor•$l 8t 2.5% por gnnum. 17 Crtdltorn: Imounts hlllng du• wlthkn on• yoar 2026 2024 Nots• Bank h)an8 Othef credllvfs Accruals and defwred In¢ome 18 9.089 8,880 8,000 4.685 16,089 19,365 18 Cr•dttor•: •mounts falllng aft•r morn th•n on• y•ar 2Q25 2024 Not0• Bank h)8 299,1W2 3CQ.069 19 R•tlr8m•nt bonofftschom•• 2025 2024 D•llnod ¢ontrlbuUon h0$ Charg6 to profft or k>ss in resped of d¢fin8d c¥>ntribulkn sthem•s 18.243 15,715 The ch811tab (1panY op8rates a d8fin8d o)ntnbubon wyion sthèma for all qtmlifying M0Ye9$. The assets of the srtherne are heJ separatety from th089 of the c*aritabl8 ¢iynpany In an Independently administered fund. 19-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY2025 20 Endowm•nt fund• Endowmanlfund$ roprwftt aS80ts whth musi held pan8ndY by Ihg tharttatAe Company. Incom& arSslng on lh8 +ndM8nI lunds ¢>n bè usad In accordance wllh th8 oble(8 olthe charttable ¢ornpany and 1$ Induded unre8tn¢tsd Income. Any rApft819wns or I¢x8Bgs wlsing on Ihe a&8et8 fo¥m part of the fvnd. At 1 March At28 2024F•bruary 2026 P•rm•n•nt •ndowm•nt• 430.778 Prnvlou• y••r. At l M&r¢h At29 2023 Febw#ry 2024 P•mMn•nt•ndowm•nts 430,776 430,778 Durlng 2017 th& &ap$t aoulrnd pr¢ffllws l) W)r¢8thr to t• I>)nrtad Into ai a Churth by the Hope ¢hur¢ Cornmunmy. These preml898 haN been •ndtyw8d to the lor thbB purp080 and refurbi8hmenl prolect has cAmmenced. 21 R1Cl•d fvnd• Tho Te$lrf¢ted fvnd? of tharfty &)mpri•• th• unowndod balar of d)nalJon$ aThl granlB hokl on tru81 lublect lo specific condthns by donor8 as to how they may be uwl. Al 1 M•rGh Incomlng R••ouYc•• Tran•f•Y 2024 mouY¢•s •xp•nd•d At28 F•bru•ry 2028 Building Fund Encountor Togthr Ifomierfy Hope Projècti Exporting Hopa Dlne6 Green 919.536 187.440) {858) 858,018 37,259 47.643 119,136} {41,644> 11,4301 {1,515) {2,5001 28.123 18.0ry) 10,516 945,491 89.682 {1282201 18.3031 gJO.850
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2025 21 Re•trlctod lund• Iconlknuodl Provlo yoar. At 1 IA•r¢h 2023 Inc¢xnkng ReJour¢e$ rnjoul¢ •xpondod Transf•rn At29 February 2024 Bulldlng Fund Encounter Tc¥eth8r (fomiorty Hope Project) Exporbng Hope Dine¥ Green 924,841 18,968 124,2731 919.536 9.359 S,013 7.116 21,223 119,6221 129,0591 11,10n 11,5301 11,280 9,430 10,518 8,009 946.329 83.473 174,th811 9.750 945.491 8ulldlng Fund- donatlonl gfven wlth th• Intonl of8ng a loan. En¢ounter Topthar Ifcim¢rfy Hope Proled). donadon8 to hetp pacple vAth Mfa wntroulng IsJug8. Exp¢dlng H¢- dona¥MB gfven to Hopo Church to b• 48 IntwnAUon81 d(M)aU¢)M. In 2019, Ihe R•gbn81 Fund and lh• Rthard Tr•vel FWKI wwe Gomblned wmh the Exp0r@ Hop4 Fund. Th8 DSne8 Green fund18 a lund used for nnIng o KregAlb)n and ng the MmUnIty ol Dln88 Groen. 22 Unwtrlct•d lund• The unrg8lrid¢d lundB ol the charity comprf8e th¥ {eXpended balance3 of don8llonB and grants whlth ar& not subjec< to spedffc cyJnditlon$ by (¢)r6 and grantor3 88 to how they mgy be u88d. The80 Include des+gnaled funds whlch ha b•8n 8et 88lde out of U(trICed lunds by tho trustaes for sp8dflc purp0888. At 1 March In¢omtng R••ourc 2024 rn8ouycM •xp•nd•d Tran•f•r• At28 F•bN•ry 2026 G•ner41 funds 101,491 271,318 1242.1231 8,303 13e,989 Pr•vlou• ygar. At 1 Illreh Ineomlng Rtsr 2023 resour¢e• oxpgndod Trnn•forn At29 Fgbruary 2024 Genw81 lunds 80.080 243,692 1212,531) (9.750} 101,491 -21
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2025 23 An18 of n•t•88•ts botr•A•n fund• Unre8trktsd ReJtrlct•d Endowmont fund• funds fund¥ 2026 2025 2025 Totsl 2025 At 28 Fobruary 2026: Tangible 858918 Currgnt ass8ts10labnI Long tarm Ikabl4tie8 39,148 97,841 1.217.186 117,4341 1299,1021 430,778 1,687,110 80,407 (299,102) 138.989 430.776 1.468,415 Unrn*tFlet•d fvnd• 2024 R•strfcted Endowmgnt fundo fund• 2024 2024 TotAI 2024 At 29 F•bru•ry 2024: Tanglble assets Curr¢nl a8setslUlatylftth) Long t8rrTr Ilablllti68 40.865 1.251,477 2,083 (308,089) 430,778 1,723,118 62,709 1308,(k891 101,491 945,491 430.776 1.477,758 24 R•lat•d wrty tran•actlon• No guar8nt808 ha¥e boon gNOn or r•cohed. G Hazètton has an Intwfrst In th8 Insurance pro¥lded for the charliat48 fjjmpany. Tho Insur8n¢8 li prOded through Ihe In$uran¢o brokor¥ Hazellon & Mountford ¥vhera Mr Haz8lton is tho managing director. The Insurance prowded is al a mPeDti¥e i¥te and was prooKgd through another of th8 (>)rnpany on gn 'at amislonglh. basls. The amounl incurred was £6.70312024- £4,871).