11,L. 2L* fiLKt) o Co. Pl)E. Charity R&glstratlon No. 1129257 Company RgglstTatlon No. 06828228 (England and Wales) HOPE CHURCH WORCESTER ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026
HOPE CHURCH WORCESTER LEGAL AND ADMINISTRATIVE INFORMATION Trusteos Mr D P Splers Mr J Davidson Mr G B Haiekon Mrs R M BIDW Mr P M Ettrfdge MrJ P W Harper IAptx)inled 27 January 20261 Secretary Mr D P Spiers Chiaf executivè Mr R J Thomas Charity number 1129257 Company number 06828228 Reglstered 0ffi¢o The Granary Sl man$ Quartar Worcestei WRI 2DA Independent examlner Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcgslershire WR14 2JS Bankers HSBC Bank PLC 6 Broad Stm81 Worcester WR12EJ
HOPE CHURCH WORCESTER CONTENTS Page Trustees, report ststemenl of Iruslees. responsibilities Independent examiner's report Statement of flnanc5al activllies Balanc& sheet 9-10 Notes to the accounts
HOPE CHURCH WORCESTER TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2026 Th& trustees present their roport and accounts for the year ended 28 February 2026. The report relBles to the charftable company alone, il Is not part of a group. The financial statements have b&&n pr&par8d in accordan with the accounting policies sel out in note 1 to the rinancial statemonls and comply with the ¢harllable companls memorandum and articles of assoclatlon, the Companies Act 2008 and Accounting and Reporting by Charities.. Sta16mènl of Recomrnendbd Praclicg appllcable to charities preparfng Ihelr accounts In accordan¢e wllh th8 Flnanclal Repong Standard applicablg in the UK and Republic of Ireland IFRS 102) leffecliv& 1 January 2019).. ObJectlv9s and actlvitie5 Tho charflable COpanIS objects are to advance Christian falth In accordance with the Statemgnl of Beliefs set out wllhln tha AcleS of Assoclauon In such ways and in such parts ol the Unlled Kingdom or world as to ftjlfil other charllable purposes that are connected with tha charitable work of the Church. The pollcles adopted In ftrrtheranc& of these objects are the pnivlslon of public worshlp seryices wllh Chrlslian leaching and pastoral support for all ages, community based actlvilies. cale church a¢tivilies, support to to those wlth lifo controlllng Issugs, provision of transport, Inlernallonal support and olh8r support work lo those In need or suffering. There has b¢en no Change in these durlng the year. The trustees have pald due rogard lo guldance issued by the Charlly Commisslon in deciding that activities the charft8bl8 compally should undartake, and ara satisfied that those descrfbed below provide publlc bgnèfit. Structure. govgmance and managèment The Charitable company Is a company limited by guarantee incorporated Sn England & Wales on 24 February 2009. The charitsble company Is govornod by Sls Memorandum & Artlcl8s ofAssoclaUon. Th& trustees, who aro also th& dlroclors for the purp08e of company law, and who servod durlng the year and up lo thg date of signaluro of the financial statements were.. Mr D P Spiors Mr J Davldson Mr G B Hazellon Mr R J Thomas Mr8 Fi M Blow Mr P M Elldge MrJ P W Harper (Resigned 1 March 2026} (Appointed 27 J8nuary 20261 The trustoes are drawn from the Members of the charftable company. None of the trustees hes any bgneficial interest In Ihg charilablg company. Ml of the tru8180S are rnembers of the company and guaranlge lo contribute £1 in the event of a winding up whilst still a memb8r or within onp year of ceasing lo be so.
HOPE CHURCH WORCESTER TRUSTEES. REPORT (CONTINUED}{INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2026 The Iruslees are re8ponsible for the Tnanagemenl and administration of the Church's property and funds In accordan¢& with the Memorandum and th8 Articles of Associaon. Day lo day management of acllvitlos Is dfylfjgaled lo Richard Thomas who acts as chlef executive. Remunerallon Is set by the Board of Irusleas havlng due rogard lo the activities undertaken and remuneration ofsimilar posts in tho ¢hurch community. Upon appolnlm8nl approprlatè Iralning and guidance is glven as lo Éhe role and respon$lbllllie8 of a trust8& wIth5n th& organlsation. Meeting8 are requlred lo be held al least thr60 Imas a year at which the charftsble and financial aspects of the organlsallon are consldered and 8clions to b8 taken detenmln8d as necessary. This indudes the settlng of remunerauon for thos& &mpk)yad havlng due regard to leglslalive r&qulrernents and rates of remuneratlon pald by similar organisallons. Inlerosts In Iransathons by vlrtue of relaled p8rt1es are declared at meetings and reported In the notes to the fi'nanolal slatsmenls. The ackn'vities of tha Church are managed for th& charity by the fDllowlng staff: Mr J Harper Mr D Spiers Mr R Thomas Mr J Durke MTS J Harper Mr D Dowse Mlss Carolyn Revlll Mr Loe Boniface Full Ilme churca) work8r Part lim8 Admin Full Ilme church worker and Chief Executive Part time church worker Part tlrna bulldlng manager Part tim8 carèlakerlcleaner Part Tlme chlldren's worker Part lim8 Children and youlh worf(er. Mr R Thomas Is sl8pplng down both as ¢h8lrman and dlre¢tor at the end of the 2025-28 year and retire8 as a staff member April 2026. With effectiv6 financial controls and a careful budget, we have managed to achieve good results. We achSeved a small surplus over our deslrad rl88 In Incom8 and have met our charitable objeotives.
HOPE CHURCH WORCESTER TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2026 Achlevements and porformance Throughout the perlod wo hav8 provldgd publlc bBneflt through the followlng... We havg again malnlalned financial support for a training school for communlly leaders trom Rwanda and Uganda. We have started lo produco somo videos helping churches lo fomi healthy ralatlonshlps with churches of differing cultures. We have once mora engaged U.K. churchos In the charitsblg link to Uganda resulting in further grfts from oth9r charities towards m8dical ald. We havo travelled to Uganda to helpload a Conferen helping lo encourage and traln next 9eneration laad6rs. Wo have planned and run a conference for sgnlor loaders of church grouplng8 In east Atiica. encouraglng best prdclic8 in communlly18adorship. We havo Nn monthly Zoom MtingS for tha en¢ourag&ment of church leaders around the UK and gathered leaders for 244our conferences using our building. We have conlinuod to prDvlde public worship services by means of three congr8galons meeting in The Granary, with Chrlsllan teachlng and pastoral support. All three congregallons have again grown numerically. Our communlty groups have ¢onllnugd lo prowde community Ix)nneclon and support, wllh a 50% attendance ral8. We have again run Din88 Groan youth group in the community centr8. Support continuas lo those suffarlng from addidons of various kinds, mantsl health Issues, and homelessness. W8 have continued with long tam vc>lunleèr mentoring relationships wllhin tho Sunday evening congregation, partlcularly for those wllh life controlling issues. We have conllnued our partnership with The Good Soil Trust in providing support for s8veral long-lerm unemployed lo attend work expadènco. We have continued the review and action our hoallh and safety policy. We havg continued lo train new volunteers in food hygiene and have planned further first aid traSnlng. Wa have delivered safeguarding tralning to our volunteers and sent key leaders on more advanced tralning. Our bulldlng Is b@Ing usad by many communlly groups and acllvltl&8. We hav8 run termly children's crart activity mornings for the comrllunity. We have agaln partnored with th$ coun1 in running the severe weather emergoncy night shelter for the homeless durlng the wlnter months, uslng our building. We ran a camp 8pe¢lfically for tho88 from Simllar Social aollon projects as ourselves, faclng lif controlllng dlffcullles. from around the U.K. We hav6 provided support. coachlng and advice lo other churche8, partlcularly lo their leadership teams, primarily in th& west Midlands, and south Wales, extending lo Derbyshire, Manchester, and Kent, enabllng new congregallons to form both in Herefordshire and Derb shirè. We havg partnered with thè followSng charltsblo groups to provide low0$1 event I Ir8inlng venues. Alcohollcs Anonymou$ Aspeora Supportlng migrants wlth cultural issues. CCP -- dedlcated lo prev3nllng the causes of homelessness. Chlldron's Society provldlng speciallsl support th81 empowers young people to make posltN8 chang8s and redlsoover th8ir hope. CCP {SWEP}- Prevonllng the causes and raduclng the &ffects of homalessness, famlly breakdown, and excluslon sinca 1989. Cranstoun, worklng wllh those 18+ struggling with alcohol or drug intske. Dan¢gfost- crealng opportunilles for people In our community to tske part In d8nco cla8888 and, If they want lo, perform. Dlabetes UK Emerglng Future$ - worklng with peopla affected by homelessness, drug and alcohol problems and physlcal and mgnlal health nogds. Everybody D4n¢e- a company aiming lo bring together able bodled and dlsabled through dance. Hereford and Worcester Recovery and Wollbglng college Maggs day centre Worceslgr Communlty Gardens W¢r¢gsl•r Mela - using dlfferent cultures, colours, and croativlty lo brfng unity In the cfty. Yallow Scarf- support groups 1¢ help over¢ome challenges of Ssolation and dlsplacement
HOPE CHURCH WORCESTER TRUSTEES, REPORT (COTrTfiNUED)(INCLUDING DIRECTORS, REPORT) FQR THE YEAR ENDED 28 FEBRUARY2026 Plan for tho futuro The tharmable tr)rnny proposes to conllnye the8e a¢ttvllles In the ¢omlng year and delOP thom fvrther. FlnanGlal rovlew We have agaln fvnclKJned wo11 wlth effove financial ¢ontrol$ achlovlng good results. Continued prudent budg&llng has enabled u8 to achleve our chafitable obled8 and maintain reasongble free reserv¢s #s dotalled bg1¢)W. Th8 nel expenditure for the year 1$ £111 (2025 - £9,343) of whlrh a surplus of £54,80612025 - £35,498) 1$ In ¢onnoction th unrdstiiclod activlli98 gnd a dfyfldl of £54,917 P025- £44,841) In relaOn to restrkted aetlvftO88. Total re8erve$ at the reporting dale are £1,468,30412025- £1,488,415) of whith £845,733 {2025 - £900,850) 18 restrfeted. Full detslls of the rethcted fvnd8 can be founfl in the notes accompanylng th8 finand818ternent$. Aft&r extradng thè endowed property and other llxed assets th18 leaves free ra88Ne8 of £191,795 (2025- £136.9891 availabla for unre¥lrtded advitles. It Is the polty of tho tharftablo ¢ompany that unrostrltxad fvnd$ whldj havg not b¢on de81gngtgd for a 8Pg¢Sftc Uso should bè mainlalned al a levèl equiv8lent to between three and Six rTrJnth's expendituts. Thg trusts¢s ¢onslder3 that rewves * th18 Ve1 wll ensure that. in the event of a ¥ignificant drop in fundlng, Ih&y will be able to conllnue the tjharflable fx)mpany'8 current aL#lvlUe8 whlle con8ldpratlon 18 glven to W5 In whl¢h addlonal funds may bo rai$8d. The tfusteès have asseued the major dsks to whlch thè thavltabie eompany Its sxp¢)8ad. and ore sa118fied that systems ara In plac* to mlllgats oXPO8UJP to the major rf8ks. Th18 report ha$ been prèpared In accordance with the pro810n8 applleable lo companles 8uhEect to the 8mall )mpani08' regimo. The $tea8, reportwa8 approved bylhe Bowd ofTrustees. MrDP8plè Tru8teè Dated.. 11 June 202 klr J P W Harpar Trustee Dated.. 11 June 2026
HOPE CHURCH WORCESTER TRUSTEES. RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2026 The trustees, who are also the diroctors of Hope Church Worcester for the purpose of eompany law, ar8 rosponsibl$ for ptpparing the Trust6es' R8POrt And tho financlal sl816m8nls In acwrdance with applicable law and Unlled Kingdom ACCOUnng Standards Iunlled Klngdom GenerallyAcc8pled Accounting Pra¢tlcel.
HOPE CHURCH WORCESTER INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE CHURCH WORCESTER I report lo Ihg trustees on my oxaminallon of the financlal statements of Hope Church Worcester (the charkable company) for the year ended 28 February 2026. Responsibllltles and basls of r8port As the Iruslees of the charltable company land also its diffclors for tha purposes of company lawl, you are responsible for the preparatlon of the flnancAal statements In 8¢cordance wllh th8 requirem9nts of the Companies Act 2006. Having satisflod mysatf that the financlal slat8ments of the chatable COJb7pany ar8 not r9quId lo be audlled undgr Part 16 of the Componles Act 2008 and aro oligiblo lor Independent èxaninallon. I report In respect ol my examlnation of the charitable company's ffnancial st8tem&nls ¢arYied out under section 145 of the Charities Acl 2011. In carrylng out my examinafjon I have followed the Dlr6ctions given by the Charlty Commission under section 14515)Ibl of the Charlties AGI 2011. Independent examlner's statement sin tha charllablg company's gross Incomo exceeded £250.000, the Independent examlner musl b8 a m&mb&r of a body listed Irh section 145 of th8 Charitlos Act 2011. 1 confirm that l am quallflgd to undertake the examlnallon because l am a member of ICAEW, which is one of the listed bodles. I have completad my examlnalion. I confirm that no matters have come lo my attentSon in connection with I examlnatlon givlng me cause lo bsllgve that In any materlal rospecl= accounllng reo)rd8 were not kept In respect of the charftable company as qUIred by se¢don 386 of the Comp8nigsAct 2006. the financlal ststemenls do not aw)rd wllh tho88 records., or the financlal statoments dr> not comply wllh the a¢counllng requirements of secdon 396 of the Companles Act 2006 olhor than any requirement that th¢ financial stslemen18 give a true and lair vffigw, whiGh is not a matter consldered as part of 8n independent examlnalion,. or the financial statements have not been prepared in accordance with the methods and principl&s of the ststemenl of Recommended Practice for accounting and rgPQrting by charllies applicabl8 lo charities preparlng thelr financlal slalements In a¢cordan¢e wlth the Flnanclal RetKirting Standard appllcable in the UK and epubliG of Ireland (FRS 102>. oncems and have comg across no other mallers In conngcllon with the examination to whlch attention raw In this report in order to enab16 a proper understandlng of th8 Ilnancial stst8m@nts to be reached. ould Needham Kgndallwadloy LLP A CTA IVATI Gr8nla Lodg8 71 Graham Road Malvem Worcasler8hlre WR14 2JS Dated= 11 June 2026
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HOPE CHURCH WORCESTER BALANCE SHEET ASAT28 FEBRUARY2026 2026 2025 Notes Fixed a$sots Tanglble assets 14 1,853,481 1,687,110 Current assets Debtors Cash at bank and In hand 1S 24,324 95,501 21,951 74.545 119.825 96,496 CraditOTS: amounts falllng due wlthln one year 17 114,793} {16,0891 Nel current assets 105,032 80,407 Total assets less curr8nt Ilabilities 1,758,513 1,767,517 Credltors: amounts falllng dug after more than ono yoar 18 1290.2091 {299,1021 N9t assets 1,468.304 1,468,415 Capltal funds Endowment funds Income funds Resldcted funds Unreslricled funds 20 430,776 430,776 21 845,733 191,795 900,650 136,989 1,468,304 1,468,415
HOPE CHURCH WORCESTER BALANCE SHEET (CONTINUED) ASAT28 FEBRUARY2026 Thé ¢hatable company 18 eniltled to tho exempllon fr¢)m the audh requlrement ¢ontsined In section 477 of the Compani6sAct 2006. for tha year ondfjd 28 February 2026. No membw of the cJ)arftable oompany h88 dep081ted notlce, pursuant lo section 478, r•qulrfng an audit of these atcounts. The dlroctors acknowled98 thelr re8ixjn8irle8 for ensuring that th& charftable company keep8 accounting records vthlch comply wlh 8edi&n 388 of the Act and for proparing accounts whlch glve a true and fair wow of th6 slal8 of affalrs of the ¢harftabl8 Lximpany ag at the ond of the financlal year arKI of its InmIng ro$ource8 and 8ppll¢atlon of resource8, Indudlng its Incomè and 8xpendlture. lor the finaDdal ygor In accordancè th the r¢quirements of 8edlon$ 394 and 395 and whth OtheSe cgmply th tho requlTOmonts of th& Companles A 2006 relating to artoun18, x) far 88 applICab lo tha charftable company. Tho members havg not reqUid the company to obtsin an aurfit of Its finandal sfatgm9nts forthe r In que$llon Ih acrnrdance se¢Uon 476. These financial statamenls havo bgon prppared In aCrdanc¥ with th& provtslon8 appCable to compan10$ Subject to the 8m811 ¢omp8nle8 reglmè. Tho flnanclal staten18T wew opproved by the board of direGtors and aulhorised for16sue on 11 Jung 2028 and are sign 118 behalf by: Mr D P Spierg Truste0 rJPWHaryJer company Rag18traOn No. 06828228 10-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY2026 Accountlng policlg$ Company informatlon Hope Church Wor¢est6r Is 8 charitable company limltad by guarantee incorporated in England and Wales. The registered Offl Is The Granary, St marn$ Quarter, Worcesler, WR1 2DA. 1.1 Ac¢ountlng convBntlon The financial slalefnenls have been prepared In accordance with tho charitable company's govgrning document, the Cotnpanles Act 2006, FRS 102 'Tha Financial R8porllng Standard applicable in tha UK and Republlc of Ireland I"FRS 102") and the Charities SORP "Accounllng and Reportlng by Charilles.. Slalemenl of Recommgnded Pracuce applicable to charities preparing their accounts in accordance wth the Flnancial Reportlng Standard applicable In the UK and Rapub5ic of Ireland IFRS 1021. leffacllve 1 January 20191. The charitable c4)mpany is 8 Public Benefit Entity as defined by FRS 102. Th8 Gharitsble company has takgn advantage of the provlslons In SORP for charities not lo prepare a Stalgmenl of Cash Flows. The financial slalements have departed from the Chariligs (Accounts and Reports) Regulations 2008 only to the exlenl requlred lo provlde a true and faSr vlow. Thls departure has Involved followlng tha Statement of Recommended Practice for charlli8s applying FRS 102 rather than the version of the Siat8mènt of Recommended Practic& which 18 referrgd to Sn Ihg Regulations bul which has 81nce been wthdrawn. The linancial statements are prepared in slerfing, which Is the funcllonal curroncy of the charitable company. Monetary amounts In th6s8 ff nanclal statements are rounded lo th8 noaresl £. The flnandal statements have been prepared under thg historical cost convention. Th6 prlndpal acctsuntlng pollcles adopted are sel out below. 1.2 Golng ¢oncem Al th& lime of approvlng the f5nancial slalements, the trustees hava a asOnable expectstlon that th8 charitable company has adequate resources ID continue in operallonal exlstence for the foresgoable future. Thus the trustees continu8 to adopt tho going concern basis of accounllng In preparing th8 financial slal8ments. 1.3 Charitable fund8 Unreslrfcled funds are 8vallable for use at th6 dlscr8llon of the trustees In fvrtherance of Ihèir charStable obleclives. Restricted IL4nds ara subject to specific condi1Sons by donors or grantors as lo how they may be used. The purposes and uses of tha raslricted funds are sel out Sn the notes to the financial statements. Endowment funds represent the building gifted to the chartty by the Baptlsl Unioin, the capltal musl be maintalned by the charftsble cornpany. 1.4 Incomlng resouw¢s Income Is recognisod when the Charble company18 legally ntled lo tt afler any parformance Gondllon8 have been mel, the amounts can be measured rellably, and11 is probable that Income wlll be received. Cash donallon8 are recognlsed on reGelpl. Other donatlons 8re recognls8d on¢0 tho ¢harltabl8 company has been notified of the donauon, unless performan conditions requlre deferral of tho amount. Income tax recovorablg in relation lo donations recoived under GIftd or deeds of covenant is recognised at tha Ilme of the donation. No valuo Is athffbuted lo servlces provided by volunteers wllh5n these financial ststem8nt8 as such setvlcgs cannot be'sold. and the use of falr value would ov8rslal8 the value of donallons lo the charlty.
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 Accountlng pollcles Icontlnuèdl Debtors represent amounlB owed lo thè charfly for gtft ald or amounts paid in advancg for semcgs to be r&¢olv, meagured at the recoverable amount. 1.5 Resour¢¢$ expended Expenditure is recognised once there Is a legal or constructive obligation trj transfer g¢onomic benoflt to a third party. il Is probable that a transfer of economlo benefits wlll be requlred in setU&rnont, and the amount of the obllgauon can be m&asured rellably. Expenditure is classifigd by activity. The costs of each activity are made up of the total of dir&ct costs and shared costs, Including support costs Involvod In und&rtaklng each actiwty. Direct costs attributable ID a single activity are allocal8d directly lo that activity. Shared costs which contribute lo more than one actSvlly and support Costs whlch are not attributable lo a slnglg actlvlty are apportloned bghveon thoso actlvllles on a basis consistent th the use of resources. Central staff costs are allocated on thg basls of ttmo spent, and depreciation charges are allocated on the portion of the asset's use. Expendllure Is r8eL)gnls8d on an accruals basls as a118blllty Is Incurred. Expenditure Indudes any VAT whlch cannot b8 recoverad. Charitable expenditure comprlses those cos15 Incutted by the charity in the delivery of its activities and 8èNices for ils beneficlaries. It Includes both costs that cari be allocated dlreclly lo such activilias and those costs of an Indirect natur8 necassary lo support them. Creditors repr95ent the arnounl the charity aTrticipales il will pay to selue a dgbt or a provlsion for goods and services it has received not yel invoiced, measured at settlement amount. 1.6 TangTble fixed assets Tangible fixed assets are initially measured al cost and subsequenlly measured al cost or valuation. net of depreciation and any impalmet)t10s88s. Depreciation 18 recognisèd so as to wrfts off th8 cost or valuatlon of assets less their residual v8luos over Ihelr lJ8èful Ilves on tha followlng bases: Freehold land and buildings Flxlures and flttlngs Refurbishrnenl project 2'A straight lina 25.kn slralghl Ilne None until completed The galn or loss arislng on the dlspDsal of an assèt Is determined as tha differen¢g be&en the sale proceeds and the carrying valug of the asset, and Is recognised In the statement of financlal aetlvttles. 1.7 Impalmiont of flxgd assots At each reporNng end dale, the charitable company reviews the Carrng amounts of Its tangible ass6ts 10 delermln8 whether there Is any Indlcallon that those as89ts have suff&red an irnpaimient loss. If any such Indlcalloll 8xlst8, th8 r8coverabl8 amount of th8 ass81 Is 8sllmal8d In order to dalemilng the extent of th& impairment loss Irf any). 12-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 Accountlng pollcl8s Icontlnuedl Racoverabl& amount Is tha hlgher of falr value less cosls lo s811 and valu@ In use. In essesslng value In use, the estimated future Cash flows are discounted lo Ihelr present value uslng a pre-tax discount rale that reflects current market assessments of the limè value of money and the risks speofic lo the asset for which the esllrnales of future cash flows have not been adjusted. If the rocoverable amount of an asso1 Is 9smated lo beloss than S canyng amount, Ihg rryIng amount of the asso1 is reduced lo 119 rewv@rable amount. An Impaim)enl loss 1$ re¢ognised Immedlalely In incomel lexponditure for the yoar, unl8ss the rel8vanl assgt Is carrled al a rovalued amount, in which case the Impairment loss Is trealod as a rovaluatlon decraa88. Recognised Impairment losses are reversed If, and only if, the rea8tsn8 for the Impairment loss have coas8d ID apply. Where an irnpalrmgnt loss subs?quendy revers?$. the carying amount ol the asset is incrèased lo the revised estimate of ils recoverable amount, but so that the increased carrying amount does not exceod the carrying amount that WOLJld have been determined had no irnpalrment loss been recognised for the ass81 in prior years. A reversal of an impalrmenl loss is recognSs8d immedi8lely, unless the relevant asset is carried In al a revaluad amounL in which case tho revorsal of the In)pairmfjnl loss Is Irgaled as a r8valualion in¢reasg. 1.8 Cash and cash equlvalents Cash and cash equival$nls include cash in hand, deposlts held at call wth banks, and olhor short-leTrn liquid Invagtments with original matur18$ of thrao months or less. 1.9 Flnancial instrumants The charitable company has elected lo apply the provlsions of Sectlon 11 'BasiG Financial Instruments, and Secllon 12'01her Financlal Instruments Issues, of FRS 102 to all of Its financial instruM8nts. financlal instruments are recognisecl In the charilablo Gompany's balanGe sheet when the charitable CopanY becomes party lo tha conlraclual prowsions of the instrum&nl. Flnandal assets and Ilabillknes are offset, wlth the nat amounts presented In the flnanclal slalements. when there Is a legally enforcèabl& right lo $91 off the r8¢ognis&d amounts and ther8 Is an inlenllon to $8tt1o on a nel basls or to re81186 the assal and sew& the Ilabillly simultsneously. Basic flnanclal asset$ Basic financlal assets, whlch include other receivabl88 and cash and bank balances, ar& inllally measurgd at transactlon prlce Includlng Iransactton costs and are subsequ&ntly carried al amortised cost uslng the effective interest method unless the arrangement wnstilutes a financing transaction, where the transaction 18 measured al the present value of the future receipts discounted al a market rate of interest. Baslc Ilnanclal Ilabllltlos Baslc flnancial Ilablliles, includlng other payables. are Inilialty recogntsed 81 transacllon prfce unle88 th0 arrangement constitutes a financing Irans8¢lion. where the debt instrument is measured al the present valua of the futurg receipt8 dlscounted at a rnarkel rate of Interest. Accounts payable are classifi'gd as current Ilabllllles If paym6nt 18 dua wllhln one year or less. If not, they are pre8enled as non-current Ilabililles. Amounts payabl& are recognised initially al transaction price and 8ubsequenlly measured at amortlS8d cost uslng the effectlve Interest method. D$renIon of flnanclal Ilabllltles Finanda5 liabilkles are derecognlsed when the charllable companls contractual obllgallons expiro or are dischargod or cancelled. 13-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 Accountlng poll¢l6$ {Conttnued} 1.10 Employee benofits The cost of any unused hollday entluemont Is recognlsed In the perfod In whlch the employee's serVIS are received. Termin8tion benefits are recognised immedlalely as an expense when the charitable company Is demonstrably comm1119d to IBrminat8 th8 employment of an &mploy88 or lo provlde termination benefits. 1.11 Rètlrgment bgnefits Payments lo deffned ntrIbUtIOn redremenl benefll schemos are charged as an expense as they fall due. Crlti¢al accounting eslimate5 and judggments In the appllcalion of the charftable company's acwunllng poll¢los, the trustees are requlred lo make judgements, estimates and assumptions about the Carrying amount of ass81s and liabilities that are not readlly apparent from other sourcgs. The oslimates and 8ssoclatod assumptlons ar9 based on hlslorlcal experlance and other factors that are considered lo be relevant. Actual results May dlffer from these èstimates. The eslimales and undeTr1ylng assump15ons are reviewed on an ongolng baslg. Revisions to accounllng eslimales are recognlsad in the pgriod in which the estimalo is revlsed where the revislon affects onty that period, or in the period of the revision and futur6 periods where tho revislon affects both current and futur8 periods. Income from donatlon8 and legacle8 Unrgstrlctod Rostrlcted funds funds 2026 2026 Total Unrestrlcted Restrlctad funds funds 2025 2025 Totsl 2026 2025 Donations and gifts 272,389 90,193 362,582 234,657 89,682 324,339 In¢ome from ¢haritable a¢tivltles Unrestrlcted Unrostrlctgd funds funds 2026 2025 Room hlr6 38,656 35,892 Income from Investments Unrestrfcted Unrestrlcted funds funds 2026 202S Interasl rgcglvable 989 769 t4-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 Chatltablo actlvltles 2026 2025 Staff costs Depreclatlon and Impalrment Communications Events Glfts Insurances Promisgs Bulldlng Fund Regional expenditure Sundry Suppl1&8 for charllable activili6s Travel and conferences 198,022 37,673 4.435 75.402 5,059 6.806 24,968 176.201 38,116 3,241 61,729 11,131 5,216 19,639 8.710 2.693 1.012 14,696 4,069 5.208 10,422 2,261 Share of support costs (see note 71 Share of governance costs Iseg note 71 38 3,150 76 3,000 378.023 344,950 Analygls by fund Unreslricled funds Rostrcted funds 266,087 111,936 378,023 For the year ended 28 February 2025 Unreslricl8d funds Rastrictad funds 241,170 103,780 344,950 Support ¢o$ts allocatsd to actlvitles 2026 2025 Bank charges Governancè costs 38 3,150 76 3.000 3,188 3.076 Analy8ed batwoen: Charitable activities 3,188 3,076 15
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 Support cost$ allocated to actlvltlg5 {Contlnued) 2026 2025 Gov&rnance ¢osts ¢omprlso: Ac¢ounlan¢y 3,150 3,000 3,150 3,000 Govemance costs include paymonts lo the Independent examiners of £3.150 (2025- £3,000) for accountancy fg9s. Net movgmgnt In funds 2026 2025 The nel movement in funds Is slalod after ch8rgingllcrediling}'. Deprociation of owned tangiblè fix8d assèts 37,673 38,116 Trustse8 Thr88 of the trustees lor any per8ans connected with them} received remuneration during the year, being remuneration for the perfonllance of Ihelr pastoral and adminislrallve duties wllhin the church. Tha arnounls pald including pension contrbutions for R Thomas, D Spiers and J Harpar were £61,761 12025 £61,761), £19,752 (2025 - £19,752) and £8,36312025 - £0) respeclivgly. They wara also relmbursed travel expensos of £6,35512025- £9,799), for R Thomas, £O12025- £1721 for D Spiers and £1,15412025 - £0) for J Harper. One of the Trustees was repald a furth6r £2,000 of th6 interest free loan of £10,000 he had made towards the bullding work, leaving a balanca du8 of £2,00012025- £4,000). 16-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 10 Employoes Number of&mploy&es Tho average monthly number of employees durlng the y8ar was.. 2026 Number 2025 Numbor Elder8hip Admlnistrauon and support 2.00 2.00 3.00 7.00 5.00 Employmgnt costs 2028 2025 Wages and salarles Soclal $8curily costs Other pension costs 171,819 9,662 16,541 150,380 9,578 16,243 198,022 176,201 The numbor of gmploy99s whoso annual remuneration was £60,000 or mor8 were.. 2026 Number 2025 Numbor £60,000 - £70,000 Contdbullons tolalllng £13,885 12025 £14,284) were mada lo defined oonlrlbulion pension schem8s on behalf of ihg above r8muneraled trustees. 11 0th8r Unrestrlcted Restrlctod funds funds Totsl Unreslrfcted bjnds Reslrfcted funds Total 2026 2026 2026 2025 2025 2025 Flnanclng 81S 807 23.508 24.315 953 24,440 25,393 807 23,508 24,315 953 24,440 25,393 12 Taxatlon The charity Is exempl from taXatsn on tts advlti8s b@¢ause all its income is applied for charitable purwses. 17-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 13 Transfers Transfers were made botween unrestricted funds and re8trfct6d funds as shown In th8 reslrtcled fund note. 14 Tanglblo fixed assots Freehold tand Flxtiira8 and and bulldlngs Ilttlngs Total Cost Al 1 March 2025 Addllions 1,714,556 26,478 4,044 1,741,034 4,044 At 28 February 2026 1,714,556 30,522 1.745,078 D&pro¢iatlon and Impairmanl At 1 March 2025 Oepreclation ch&rg8d In the yaar 34,291 34,291 19.633 3,382 53,924 37.673 At 28 February 2026 68,582 23.015 91,597 Carrylng amount At 28 F8biuary 2026 1.645,974 7,507 1.653,481 Al 28 February 2025 1,680,265 6,845 1,687,110 15 Debtors 2026 2025 Amounts falllng due wlthln one y•ar: Trade debtors Other dablors Prepayments and accrued income 440 8,526 12,985 13,093 11,231 24,324 21,951 18-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 28 FEBRUARY2026 16 Loans and overdrafts 2026 2025 Bank loan8 298,970 308,191 Payable wllhin one year Payablg aftor one year 8,781 290,209 9,089 299,102 Amounts included above whlch fall due after five years: Payable by Snslalments 252,999 257,924 The long-lerm loans cornpri88 a mortgage for Ihe refurblshment of the prop&ty and a Bounce Back loan of £50.000 plus In18rgsl received through Coronovlrus fundlng guarantsed by th6 Govarnmenl. The remainlng lemi of th& mortgage as at 28 February 2026 is 24 years 4 months and th6 Interest rate Is 8.600h. The Sounca Back loan was for a poriod of 10 years from October 2020 and carries Intarest al 2.5 /0 per annum. 17 Cradltors: amounts falling due within one year 2026 2025 Notes Bank loans Other credllors Accruals and deferred incorne 16 8,761 2.000 4,032 9,089 4,000 3,000 14.793 16,089 18 Creditors.. amounts falllng due after more than one year 2026 2025 Note$ Bank loans 16 290,209 299,102 19 Retlrement beneflt Schemes 2028 202S Deflned contrlbutlon schemos Charge lo pmfil or1085 In respect of defflned wntrlbutEon scheme8 16,541 16,243 The charitabl8 company operates a deffned contribution pension SGheme for all qualrfylng employees. The assets of the schema are held separately from thoso of the charltsble company In an Ind8pend8ntly administsr8d fund. 19-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEJblENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 20 Endowment funds Endowment funds repr&sonl ass6ls which must be hèld permanentty by the charllablg Company. Income arising on the endowment funds can be used in accordance with the objects of th6 charitable company and is Includgd as unr¢slrl¢led Income. Any capital gains or losses arising on assets form part of the fund. At 1 March At28 2025Fgbruary 2026 Permangnt endowmonts 430,776 430,776 Prevlous year: At 1 March At28 2024Fabruary 2025 Permanent endowments 430,776 430,776 Durlng 2017 the Bap115t Union acqulred premlses In Worcester lo be convettsd Into Use as a Church by the Hope Church Community. These promlses have been ondowod lo the charlly for Ihls purpose and a refurbishment prolect has commencgd. 21 Restrl¢ted funds The reslrlcted funds of the charfty comptl89 the unexp&ndad balancos of donallons and grants held on trust subject lo specific conditions by donors as to how they may be used. At 1 March 2025 In¢omlng rosources Resources Bxpended Tran$fer$ At28 February 2026 Building Fund EnGounlerTogelher (fofmedy Hope Project) Exportlng Hopo Dines Green 856,018 157.7991 (3) 798,216 26,123 1S,000 3,509 31,055 49,907 9,231 128,4871 146,4651 12,6931 {9,663) 19,028 18,442 10.047 900,650 90,193 1135,4441 (9,666) 845,733 -20-
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FFBRUARY2026 21 RoStrl¢tod funds Icontlnuedl Prevlous yeay: At 1 March 2024 In¢omlng rosourcas Resources 8xp•nded Transfèrs At28 February 2025 Bulldlng Fund Encounter Tog6lhgr {formerly Hope Prolectl Exportlng Hop6 Dlnes Gregn 919,536 4,780 167.4401 1858) 856,018 9,430 10,516 6,009 37.259 47,843 119,1361 141.6441 (1,430) {1,515} 12,5001 26,123 15,000 3,509 945,491 89,682 1128,2201 16,303} 900,650 Bulldlng Fund- donations given wllh the intent of sgrviclng a loan. Encounter Tog8thgr (formerfy Hope Proleotl - donations re¢gived lo help people wlth life controlling Issugs. Exportlng Hope- donations givon to Hopo Church lo bo usad 8s intemational donations. In 2019, tha Reglonal Fund and the Richard Travel Fund were combSned with the Exporting Hope Fund. The Dlnes Green fund Is a fund used for running a congregatlon and servlng Ihe community of Dines Greon. 22 Unr8strl¢tad funds The unre8tricl&d funds of the cttarlty comprfs8 the unexpondod balances of donallons and grants whlch ar8 not subject to spethfic conditions by donors and grantors as to how they may be used. These include dgsignalod funds which have been set asid& out of unrestricted funds by the trustees for SGir1C purposes. At 1 March 2025 Incomlng Resou9$ resources èxpended Transfers At28 February 2026 General funds 136.989 312,034 1266,8941 9,666 191,795 Prevlou$ year: At l March 2024 Incomlng Resourc0$ resourcos expendod Transfers At28 February 2025 General funds 101,491 271,318 1242,1231 6,303 136,989 21
HOPE CHURCH WORCESTER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 23 Analysls of net assot$ between funds Unrèstrlcted funds 2026 Re6trfcted Endowmgnt fun(fs funds 2026 2026 Total 2026 At 28 February 2026: Tangible assèts Current asselsl(liabilities} Long term Ilabilllles 39.810 151.985 1,182,895 146,9531 1290.2091 430.776 1,653,481 105,032 1290,2091 191.795 845,733 430.776 1,468.304 Unrestricted nds 2025 Restricted Endowm8nl funds funds 2025 2025 Total 2025 At 28 February 2025.. Tanglble assets Current assetsl(liabilities) Long torm Ilablllties 39,148 97,841 1,217,186 117,4341 1299.1021 430.776 1.687,110 80,407 {299,1021 136,989 900,650 430.776 1.468,415 24 Related party transa¢tlons No guaranteès hov& been given or received. G Hazellon has an interest In th8 Insurance provlded for th8 Charitable company. The insurance Is provlded through the insuTanc8 broksrs Hazelton & Mounlford where Mr Hazglton is the managing director. The insuran¢9 provlded is at a COTllpelllive rate and was procured through another member of the company on an "al arrns length. basis. The amount Incurred was £7.04212025 - £6,703). 22-