WORLD OF HOPE (A COMDANY LIMITED BY GUARANTEE) FINANCIAL STATEMcèlTS FOR THE YEAR EKDED 31 MARCH 2025 CCNTENTS Page Company Information Report of DiractorslTru5tees Independent Examiner. Rèport Statement of Financial Activities Balance Sheet 9-10 Notes to the Accouilts AEIELM54 2911212025 COMPANIES HOUSE A17
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WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ADMINISTRATIVEILEGAL INFORMATION REGISTRATION DETAILS: WORLD OF HOPE is an incorporated organisation registered as a Company limited by guarantee in England and Wales - Company Number.. 06085021 GOVERNlIqG DOCUMENT WORLD OF HOPE is an incorporatEd organisation govemed by the Companies Act 1985 and 1989 and Memorandum and Articles of Association DIRECTORSff RUSTEES Prof. Amos Fanimo..... Sheidu Ohiafi............,,,......,.,..... Victoria Oluwabless .Chairperscn ,Treauref .SecrelaTr REGISTERF.D OFFICE World of Hope 27 Felixstowe Road London SE2 9QW BANKERS Barclays Bank PIC 1 Church Hill Place London SE14 5kl.D INDEPENDENT ÈXAMINCRS LVC UK Ltd 50, Merlin Road Welling Kent DA16 2JP
WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE} FINANCIAL STATEIAENTS FOR THE PERIOD ENDED 31 MARCH 2025 The directorsltnjstees present their report and financial statements for the year ended 31 March 2025 PRINCIPAL ACTIVITIES The objects of the WORLD OF HOPE are.. 1. To act as a resource tor young people aged bebNeen 5 and 25 years living in the UK, Africa and international by providing advice and assistance and organising programmes of physical, educational and other activities as a means of., la) advancing in life and helping young people by developing their skills, caDacilies and capabilities lo enable them to participate in society as independent, mature and responsibln individuals: Ib) advancing eoucation., (cl relieving unemployment., (dl providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, iri,Irmity or disability. poverty or social and economic circumstances with a view to improving the condilions of life of such persons, 2. The advancement of education in matters surrounding parenting, family life and relalicnships with a view lo enriching family and communily life in the UK, Africa and inlernalionill.
WORLD OF HOPE {A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 STATEMENT OF DIRECTORS AND TRUSTEES RESPONSIBILITIES The Directors, who are also the trustees of the Company, are required to prepare financial statements for each financial 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 activities during the year'then ended. In preparing those financial statements, the trustees are required to: select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent., state whether applicable standards and statement of recommended practice. have beeii followed, subject to any material departures disclosed and expla'.ngd in Ihe financial statements., and prepare the financial statements on the going GOnM basis unless it is inappropriate to presume that the project will continue in operation. The direclorsltrustees are responsible 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 the prevention and detection of fraud and other irregulanties. Signed..,.,.,,.....,.,,.. . Director Prof..Amos Fanimo
WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 FINANCIAL REVIEW The results of the year's operation are sel out in the attached financial statements. The net movement in funds for the period was a surplus of £7,625. The retained reserves at 31 March 2025 therefore amounted to £5,439. The activities during the year were funded from fund reiVed during the penod. The retained reserves above are mainly from funds generated this12 months period. The trustees have been aware of the need to comply with good practice guidelines on free reseNes and WORLD OF HOPE policy is included in the notes to the accounts. RISK MANAGEMENT The trustees have examined the major nsk which WORLD OF HOPE faces and believe that maintaining our free reserves at a reasonable level, combined with our annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which we face and confimi that they have eslablished systems to mitigate the significant risks. TANGIBLE FIXED ASSETS AND DEPRECIATION The Company keeps a register of fixed asset. Tangible fixed assets are stated at cost less 25 % slraight line depreciation as stated in the accounts, FUNDS AVAILABLE The present level of funding is adequate to support the continuation of the Company operations for the medium terni, and the trustees consider the financial position of the Corp.?aiiy to be satisfactory. VOLUNTEERS WORLD OF HOPE recognises the significant contributions made by volunteers.
INDEPENDENT EXAMINER'S REPORT {A COMPANY LIMITED BY GUARANTEE) ON THE UNAUDITED ACCOUNTS TO THE DIRECTORS OF WORLD OF HOPE FOR THE PERIOD ENDED 31 MARCH 2025 The Financial Statements have been prepared under historical cost convention in accordance with applicable Accounting Standards and Reporting. Responsibilities of the Directors and Reporting Accountant As described on page 4 the company's directors are responsible for the preparation of the Financial Statements and they would consider that Ihe company is oxempt from an audit. It is my responsibility to carry out prOdureS designed to enable me to report my opinion. Basis of Opinion: My work was conducted in accordance with the Statement of Financial Reporting Staiidards, and so my procedure consisted of comparing the financial siatements with the accounting records kepl by the company, and making such limited enquiries of the officers of the company as I considered necessary for the purposes of this report. These procedures provide only the assurance expressed in my opinion Opinlon: In my opinion.. A) The financial statements are in agreement with those accounting records kept by the company under section 477 of the Companies Act 2006; B) Having regard only to, and on the basis of the information contained in those accounting records., a) The financial statements have been drawn up in a manner consistent wilh the accounting requirements bpecified in section 476 of the Act.. and b) The Company satisfied the conditions for the exemption from an audit of the financial statements for the period specified in section 477 of the Act and did not, at any lime within that period, fall within any of the categories of companies not entitled lo exemption specified in section 477. Lydia Abu.. AAT Liberty Ventures & Consultanc51 UK Ltd 50, Merlin Road Welling Kent DA16 2JP
WORLD OF HOPE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 202 Unrestricted Fund Restrlcted Fund 2024 Total Total 1,7e6 Lewsham Local 3,CMJO Soulhvrdrk DV Avdrd for All - knmng Crisis Aerd for All- Cujral foc>J & AdMKacy_........ ... Lon(k)n Community Foundab'on 3.OCKJ 74,355 20.CIX) 929321 Re81)urces_Expended 7EIJ |.Telephone Transpjrt 1.799 29) 6,878 6.878 653 28.829 12.375 325 TrainerslContraclc¢ etc Non_capt81ised e.-- Cleaning.-........--_ Insurance 340 437 8,244 'Volunleers Webgte & IT costs Motor vehicle de eciation 313 1.C¥JO 749 Governance Cost , Legal e4)S 13 131
WORLD OF HOPE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST RCH 2025 INCOMING RESOURCES Unrestrictedi Restricted, Fund Fund 2025 Total Totsl Volun l Donabons Inco 37,13(Ks 1,786 6,7771 9321 RESOURCES EXPENOED Charitable Acb'vities 1.sgo 29.537 Govefnarte Costs 13 Net Incomlng. Resources for the Period 162 7,625 Transfer betmeen lunds 3.000 Fund balanceg carriod fonvard
WORLD OF HOPE 8AL4NCE SHEET FOR THE YEAR ENDED 31 PMRCH 2025 2025 Totall 2024 Totsl Not•8 Fixed Assets 2,0(KJ I 3.LkJO Current Assets Debtors Cash at bank & in hand 5,OJO 10.779 5.527 Less Current Uablllties Net A88ets Fun(ts.' Unrestricted Funds Restricted Fund5 Total funds ApPr.Qd.bY_the ManagenEnt and ssl ned on their khalf Prol. knos F8nimo Tanglble Flxed Assets Treasurer Motor Vehicle She41u Ohkgl Cost . 2025 Additions At 31 March 2025 -Oep_reciation 1.0(Xt Charge fo.. Ihe Feri¢> At 31 March 2025 Net Book Value Al 31 March 2025
BALANCE SHEET (Continued) As at 31 March 2025 The directors who are also trustees consider that for the period ended 31 March 2025,. the company was entitled to exemption from audil under section 477 of the Companies Act 2006 ielating to small companies. Directors, responsibilities.. The members have not required the company lo obtain the audit of its ccoUnts for the year in question in accordance with section 476, The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts, These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies, regime. The financial statements on pages 7-9 were approved by the board of directors on and signed on its behalf by .Director Prof. Amos Fanimo 10
WORLD OF HOPE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Accounting policies ( a ) Basis of preparation These accounts are the AcGounts of WORLD OF HOPE The accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash are received or paid. The recommendalions of the Statement of Recommended Practice have been followed in the preparation of these accounts ( b ) Fund Accounting The Company's general fund consists of funds, which the Company may use for its purposes at its discrelion. The Company's restricted funds are those where the donor has iniposed restrictions on the use of the funds which are legally binding, ( c ) Voluntary.Income All voluntary income is included upon receipt. Grants receivable are credited lo income immediately ( d ) Investment Income Credit is taken for interest when the interest falls due for payment. ( e ) Adminlstratlon Expenditure Administration expenditure comprises costs incurred in running the Company. Where applicable, some of these costs have been treated as direct charitable expenditure.