WORLD OF HOPE IA COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE 13 MONTHS PERIOD ENDED 31 MARCH 2024 CONTENTS Page Company Inforniati¢)n Report of Directorsrrrustee8 Independent Examlners Report Stslement of Flnanclal Actlvllles 74 Balance Sheet 10 Notss to the Accounts 11
WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE 13 MONTHS PERIOD ENDED 31 MARCH 2024 ADMINISTRATIVEILEGAL INFORMATION REGISTRATION DETAILS,. WORLD OF HOPE is an incorporated organisation regISted as a Company limited by guaranlee in England and Wales - Company Number. 06085021 GOVERNING DOCUMENT WORLD OF HOPE is an incorporated organisation govemed by the Companies Act 1985 and 1989 and Memorandum and Artides of Association DIRECTORsrtRUSTEES Prof. knos Fanimo............. .....Chairperson Sheidu Ohiafi......... ..Treasurer Victoria Oluwat4ess .....,........ .,Secretsry REGISTERED OFFICE World ol Hope 27 Felixstowe Road London SE2 9QW BANKERS Bardays Bank PIC 1 Church Hll Pla London SE14 5HP INDEPENDENT EXAMINERS LVC UK Ltd 50, Merlln Road Welling Kent DA16 2JP
WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE 13 MONTHS PERIOD ENDED 31 MARCH 2024 The directorsltrustees present their report and financial ststements for the year ended 31 March 2024 PRINCIPAL ACTIVITIES The oblects of the WORLD OF HOPE are: 1. To acl as a resource for young people aged between 5 and 25 years living in the UK, Africa and internats'onal by providing advice and assistance and organising programmes of physical, educatsonal and other activitses as a means of: (a) advancing in life and helping young people by developing their sklls, capacities and capabilib'es to enable them to partscipate in society as independent, mature and responsible individuals; (b) advancing educats'on; (c) relieving unemployrnent; (d) providing recreational and leisure time activity in the inter8Sts of social welfare for people living in the area of benefit vtho have need by reason of their youth, age, infimiity or disabilily, povety or social and economic circumstances with a view to improving the conditions of life of such persons. 2. The advancement of education In matters surrounding parenting, famlly life and relationships with a view to enriching family and community lrfe in the UK, Africa and intemational.
WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE 13 MONTHS PERIOD ENDED 31 MARCH 2024 STATEMENT OF DIRECTORS AND TRUSTEES RESPONSIBILITIES The Directors, who are also the trustees of the Company, are required to prepare financial stalements for finanaal year which give a true and fair view of the state of affairs of the Company at the end of the year and of its financial acts"vities during Ihe year then ended. In prepanng those financial statements, the trustees are required to: Select suitable accounting lICieS and apply them consistently: make judgements and estimates that are reasonable and prudt. • State whether applicable standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained In the financial statements., and prepare the financial statements on the going concem basis un18SS it is inappropriate to pSuMe that the proje(1 will continue in operation. The directorsnrustees are responslble for keeping proper accounting records which disclose at any time the financial position of the Company. They are also responsible for safeguarding the assets of Ihe Company and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. ..Director Prof. Amos Fanimo
WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE 13 MONTHS PERIOD ENDED 31 MARCH 2024 FINANCIAL REVIEW The results of the yearfs operation are set out in the attached financial stsleffEnts. The net movemenl in funds for the pericxj was a deficit of (£196), The retained reseNes at 31 March 2024 therefore amounted to £5,527. The activities during the year were funded from fund reiVed during the period. The retained resèrves above are mainly from funds generated this13 months period. The trustees have been aware of the need to comply gi)od practice guidelines on free resep4es and WORLD OF HOPE pdicy is induded in the notes to the accounts. RISK MANAGEMENT The trustees have examined the major risk which WORLD OF HOPE faces and believe that maintaining Our fr88 reserves at a r8asonab18 level, combined wlh our annual review of the controls over key financial systems wll provlde sufficient resources in the event of adverse condltions. The trustees have also examined other operational and business risks which we face and confimi that they have established systems to mitigate the significant risks. TANGIBLE FIXED ASSETS The Company keeps a register of fixed asset. FUNDS AVAILABLE The presenl level of funding is adequale to support the continuation of the Cornpany operations for the medium tenn, and th8 trustees consider th8 financial position of the Company to be satisfactory. VOLUNTEERS WORLD OF HOPE recognlses the slgnlficant contributions made by volunteers.
INDEPENDENT EXAMINER'S REPORT (A COMPANY UMITED BY GUARANTEE) ON THE UNAUDrfED ACCOUNTS TO THE DIRECTORS OF WORLD OF HOPE FOR THE13 MONTHS PERIOD ENDED 31 MARCH 2024 The Financial Ststements have been prepared under historical cost Conventi in accordance with applicable Accounting Stsndards and Repng. Responsibilities of the Dlrectors and Reportlng Accountant As described on page 4 the company's directors are responsible for the preparation of the Financial ststements and they would consider that Ihe company is exempt from an aLKlit. It is my responsibility to carry out procedures designed to enable me lo rep¢xl my opinion. Bas18 of Oplnlon: My worf( w88 conducted In accordance with the Statement of Flnancial Reporting Stsndards. 8fKI so my procedur8 consisted of ojnparing the financial statements vth th8 accounting records kept by the company, and making such limlted enquiries of Ihe offer5 of the company as I considered necessary for the purposes of thig rep. These procedures provide only the assurance expressed in my opinion Oplnlon: In my opinion: A) The ffinancial statements are in agreement wrth those accounting records kept by the company under section 477 of the Companies Act 2(YJ6; B) Having regard only to, and (M the basis of Ihe infom)ation contsined in those acunting records,. a) The financial statements have been drawn up in a manner consi8tenl with the arxounting requirements specified in section 476 of the Act.. and b) The Company satisfied the conditions for the exempb'on from an audit of the financial ststements for U)8 P8ri(yJ spedfied In section 477 of the Act and dld not, at any time within Ihat period, f811 within any of th8 categories of compani8s not 8nlitl8d to exemption specified in section 477. Date; Idh Dec*mber 2024 Lydia Abu,, AAT Liberty Ventures & Consultancy UK Ltd 50, Merlin Road Welling Kent DA16 2JP
WORLD OF HOPE HNANCIAL STATEMENTS FOR THE 13 M)NTHS PERD ENDED 31 IMRCH 2W24 Unr•8trlcted , Rg8trirt•d Fd Fund 2024 Total 2023 Total Inc(nkng R•sourc• Noles Oonatlong Lelthsham Loc Famity Soufftwth DV Aword fw PJI - knNing Cri818 RB (knwch sork (SNe) - M(XJAC Ald All- Main knY8nl RB C>een1¢h Youih Vdnlal Hoath Totd IrKwnkng R•siwrc•• 6.777 1714 3.¢J)O 74.355 74.355 10,CQO 155 932 Resourcog Exp•nd•d PrlnL Post & stabonwy .. . Tdephon8 Transwt Accourtancy Co618 WdPare costs Polroshrrnts 8nd Cuhw81 lood Hall RAnSpaCe hrirs._ TrnC8¢try oic PIC1 exps 134 15 1.799 1,366 973 1,6481 2x) L... 31,128 6S3 28,8291. .. 28.829 12.375 1 3251'-' 12,375 325 1081.-. 327 &244 31.712.. 4,784 12,200 eyps cle1T . InsufarKe BulkJir¥J ¢0 .vèrS ..p$ty1EItllK iWebJl* & IT COBts i M)tor deprlati 110 437. 8,244 523 314 811 313 313 3,195 Govgrnanc• Cost Lega 8yp8 13 13 13 13 Tol•l
WORLD OF HOPE FINANCIAL sTATEprs FOR THE 13 l#K)NTHS PERK)D ENDED 31 hWCH 2024 INCOMNG RESOURCES Unrostrlcled Rgitrklod Fund 2024 2023 Total Incomlno RosoureAS Fr(Nn Grat Funds: Vduntary IrK0 Donation8 Totd Ineomkng R•SoUrl 86,155 86,155 6.777 92,932 24.435 2.714 27,149 B6,15S RESOURCES expeNDEO Ctr0rit•tla 2.163 .OS2 93,115, 13.00 13.IXI Totd Rre•S Expond•d 176 120 N•1 knconlng R•vr¢•• for th• Pwbd 4.601 Trwofef bgt••en fvrvJ¥ FLY¥J brcxshl frnd 5,433 4.757 -5,433 13.230.. 8.473 Fd balv4n¢•fy carrb•d foNnrd 000
WORLD OF HOPE BALANCE SHEET FOR THE 13 MONTHS PERIOD ENDED 31 IA4RCH 2024 Dettrs Cth al8K & in 8,473 8,527 473, Less Current Uablftlej CrwthtC8 due year Fun¢ts.' Ltrwestrictsd Fur#Js R¢stri¢knJ Fund$ 5.277 4.767 14&1 Tot•1 fund• J ty tr Mwnrt wgrd IMr behdl ., ChJirper•on FW. I4nos Farn0 1 T•nglbl• Flxod A•••l• TrrI¥ Vehclj At 1 Klarch 2023 At 31 March 2024 t)8pr•cknl At 1 March 2023 ch8rp tha wioj 13114tsrth 2024 Not Book V•k At 31 March 2024
BALANCE SHEET (Contlnued) AS at 31 March 2024 The directors who are also trustees nSider that for the period ended 31 March 2024,. the rnpanY was entitled to exemption from audit under section 4T1 of the Companies Act 2006 relating tr) small companies. Directors, resrK)nslbilities: The members have not required the company to obtsin the audit of its accounts for the year in quesli'on in accordance with seclion 476, The directors &knowledge Iheir resFKinsibililies for complying with the requirements of the Act with respect to accounting records and Ihe preparation of accounts, These accounts have en prepared in accordanc* with the provisions applicable to companies subjecl to small companies, regime. The financial state ents on pages 7-9 vRre approved by the board of directors on ,and signed on its behaff by .Director Prof. Amos Fanimo 10
WORLD OF HOPE IA COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE 13 MONTHS PERIOD ENDED 31 MARCH 2024 Accounting policies I a ) Basis of preparation (i) These accounts are the Accounts of WORLD OF HOPE The accounts have been prepared on an accruals basis and indude income and expenditure as they are eamed or incurred, rather than as cash are received or paid, The recommendabons of the Statement of Recommended Practs'ce have been followed in the Preparation of these accounts I b } Fund Accountlng (i) The Ccmpanls general fvnd consils of furKls, whid) the Company may use for its purposes al its discretion. The Companls restricted funds are those where the donor has imposed restrictions on the use of the funds which are le9ally binding. ( c ) Voluntary Income All voluntary income is included upon receipt. Granls receiv8bl8 are craditod to incom8 imm8diatdy { d ) Investment Income Credit is tsken for inlerest en the interest falls due for payment. ( e ) Admlnlstratlon Expendlture Administration experKlilure comprises costs in(xJrred in running Ihe Company. Where applicable, some of th8se costs hav8 bean treated as dir6ct charitable expenditure. Changa of Financial Year end The trustees have decided to change the accountlng year end to March hence the 13 months financial slatements. This is to bring us in line with the requirements of our funders and their accounting year.