REGISTERED CHARITY NUMBER: 1136068 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR CHILD OF HOPE Newton Magnus Chartered Certified Accountants Arrowsmith Court Station Approach Broadstone Dorset BH18 8AT
CHILD OF HOPE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees I to 3 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 12 Detailed Statement of Financial Activities 13
CHILD OF HOPE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 2019). OBJEcfivES AND ACTIVITIES Objectives and aims The charity Child of Hope currently works (although it is not restricted to this purposel to support the work of its sister charity called Child of Hope Outreach Uganda, a locally registered Non-Governmental Organisation in Mbale, Uganda. In Uganda, Child of Hope works to lift families out of poverty in slum areas and regions or extreme poverty. It provides free education in its own schools, plus healthcare and welfare wrap-around support to children and their families. Food is provided for the most poor and vulnerable children. Their mothers are encouraged and helped to launch a micro business to enable them to provide for themselves. The leaders of this project are known personally to the trustees of the UK charity, and are known to enjoy the support of local people and leaders in Mbale for their work to assist in child development through medical care, education and trainin& to assist parents of children in such need with relief of financial hardship through enterprise initiatives. Significant activities Preparations were made to launch A-level studies at our secondary school, the Gill Sherlock Memorial Secondary School. These will commence in March 2024. Public benefit Child of Hope's main role is to raise funds for the work of its sister NGO in Uganda, the service delivery of which is laid out in the following paragraphs. That basically involves providing free education for the poorest and most vulnerable children of nursery, primary and secondary age in the slums near Mbale, eastern Uganda- and many'wrap-around, seNices to benefit their families. In doing so, the trustees have complied with their duty to have due regard to the commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. Grantmaking In pursuance of their aims, the trustees have made applications to grant-making trusts in the UK and have ongoing discussions with like-minded individuals and groups about further funding for projects which they wish to support. These grants were awarded: o Care and Relief forthe Young (CRY} £500 per month o The Bishop Radford Trust £1,920 o The Valentine Charitable Trust £6,000 o The Souter Charitable Trust £5,880 o The Archer Trust £2,000 o Eleanor Rathbone Charitable Trust £1,000 o Brian Murtagh Charitable Trust £2,124 o The Keith Coombs Trust £2,000 o CB & HH TaySor 1984 Trust £1,924 Page I
CHILD OF HOPE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 OBJEcfivES AND ACTIVITIES Donations The charity website, which we share with Child of Hope Uganda, contains an on-line 'shop' through which donations can be made for many areas of the charity's current activities via PayPal. There are other online payment methods available such as JustGiving and CAF. ACHIEVEMENT AND PERFORMANCE Fundraising artivities The annual accounts for 2023 show that a total of £229,613 was received from different sources by the charity. Monies transferred to Uganda in the period totalled £178,492 and a sum of £41,474 (just 18Yo} was used to cover UK activities: bank and other fees, fundraising, supporter communications, administration, monitoring funds and accountability. The increase in UK costs was due to hiring a professional fundraiser for 8 months, regrettably with little success. In Uganda, a number of fee-paying students have been allowed to join the schools, which enables the Ugandan NGO to be partly self-sufficient. A database of all sponsored children allows the charity to report back to sponsors, with details of the relevant child/children's progress through the Ugandan school system, occasionally with short videos of the children. It also allows for pertinent information to be forwarded to sponsors when received from the Child of Hope School in Mbale. This brings about a close bond between sponsor and sponsored child/children, resulting in long-term sponsorship and genuine interest in a particular child and his/her family, rather than simply the making of a charitable donation to a worthy cause. During the year, updates and reports have been received from the Uganda NGO showing that funds transmitted have been used as designated by the trustees. Several of the NGO leaders regularly met with the UK trustees on Zoom and reported on progress and developments in their work. In a special trip (funded by themselves) two UK trustees spent two weeks at our schools in Uganda to enhance working relationships and transparency, and also to put systems in place in order to work ongoing more closely with the finance team in Uganda. STRUCTURE, GOVERNANCEAND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Recruitment and appointment of new trustees Trustees are appointed by invitation after consideration and agreement by the entire board of trustees. As a Christian charity, the majority of trustees must be Christians and already supportive of the charity and its goals. Related parties During the year Rachel Clark who is married to the trustee Paul Clark provided digital marketing services to the value of £4,281.0012022 £5,596.00) to the charity. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1136068 Page 2
CHILD OF HOPE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Principal address 35 Roman Road Broadstone Dorset BH18 9DG Trustees H Lowe S Burton P N Clark C L Edmunds A G Goudie Dr D F Burrows M Thomas J G Firth (appointed 11.10.2023) Chair of Trustees S Burton Independent Examiner CJ Fairhall Newton Magnus Chartered Certified Accountants Arrowsmith Court Station Approach Broadstone Dorset BH18 8AT COMMENCEMENT OF ACTIVITIES The charity Child of Hope was formally registered in the United Kingdom with the Charity Commission and entered onto the Register of Charities on 21 May 2010. INCOME RESERVES The Ugandan charity applies for specific monies each month and any excess remained in the UK for future use. It is the policy of the charity to retain sufficient funds in the current bank account to avoid becoming overdrawn and incurring bank charges. Approved by order of the board of trustees ok.... I I ftsLrto.2ou.-.. ¥and signed on its behalf by: S Burton - Truste Page 3
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF CHILD OF HOPE Independent examiner's report to the trustees of Child of Hope I report to the charity trustees on my examination of the accounts of Child of Hope {the Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirement5 of the Charities Act 2011 {'the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Art and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. CJ Fairhall FCCA Newton Magnu5 Chartered Certified Accountants Arrowsmith Court Station Approach Broadstone Dorset BH18 8AT Date: Page 4
CHILD OF HOPE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund fund Notes INCOME FROM Donations and grants 113,523 116,089 229,612 244,599 Investment income 121 121 12 Total 113,644 116,089 229,733 244,611 EXPENDITURE ON Administration costs 41,473 41,473 30,827 Other 62,403 116,089 178,492 224,234 Total 103,876 116,089 219,965 255,061 NET INCOME/(EXPENDITURE) 9,768 9,768 {10,4501 RECONCILIATION OF FUNDS Total funds brought forward 15,836 15,836 26,286 TOTAL FUNDS CARRIED FORWARD 25,604 25,604 15,836 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 5
CHILD OF HOPE BALANCE SHEET 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund fund Notes CURRENT ASSETS Debtors Cash in hand 1,731 26,900 1,731 26,900 225 18,905 28,631 28,631 19,130 CREDITORS Amounts falling due within one year 13,027) (3,027} 13,294) NEf CURRENT ASSErs 25,604 25,604 15,836 TOTAL ASSETS LESS CURRENT LIABILITIES 25,604 25,604 15,836 NET ASSETS 25,604 25,604 15,836 FUNDS Unrestricted funds 25,604 15,836 TOTAL FUNDS 25,604 15,836 The financial statements were approved by the Board of Trustees and authorised for issue on -and were signed on its behalf by: S Burton - Tru P N Clark- Trustee The notes form part of these financial statements Page 6
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on a cash basis . The charity considers any accrued expenses to be insignificant. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 7 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT INCOME 2023 2022 Deposit account interest 121 12 ADMINISTRATION COSTS Raising donations and legacies 2023 2022 Travel and subsistence Fundraising costs Stationery, post and IT costs Administrative costs Insurance Independent examination Support costs 1,255 122 2,489 35,347 352 1,200 708 247 133 1,775 26,368 390 1,200 714 41,473 30,827 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees. expenses Trustees, expenses for the year ended 31 December 2023 totalled £nil12022 £nill. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted Restricted fund fund Total funds INCOME FROM Donations and grants 101,487 143,112 244,599 Investment income 12 12 Total 101,499 143,112 244,611 EXPENDITURE ON Administration costs 30,827 30,827 Other 81,122 143,112 224,234 Total 111,949 143,112 255,061 Page 8 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES- continued Unrestricted Restricted fund fund Total funds NET INCOME/(EXPENDITURE) 110,4501 110,450} RECONCILIATION OF FUNDS Total funds brought forward 26,286 26,286 TOTAL FUNDS CARRIED FORWARD 15,836 15,836 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors 1,731 225 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Other creditors 3,027 3,294 MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unrestrirted funds General fund 15,836 9,768 25,604 TOTAL FUNDS 15,836 9,768 25,604 Page 9 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 113,644 1103,876} 9,768 Restricted funds Other restricted 116,089 (116,089) TOTAL FUNDS 229,733 1219,965} 9,768 Comparatives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 26,286 110,450) 15,836 TOTAL FUNDS 26,286 110,4501 15,836 Comparative net movement in funds, included in the above are as follows; Incoming resources Resources expended Movement in funds Unrestricted funds General fund 101,499 1111,949} {10,450) Restricted funds Other restricted 143,112 {143,1121 TOTAL FUNDS 244,611 (255,0611 {10,450) Page 10 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is a5 follows: Net movement in funds At 31.12.23 At 1.1.22 Unrestricted funds General fund 26,286 (682} 25,604 TOTAL FUNDS 26,286 16821 25,604 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 215,143 {215,825) 16821 Restrirted funds Other restricted 259,201 1259,201} TOTAL FUNDS 474,344 (475,026) (682) RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. 10. RESTRICTED FUNDS During the year the following restricted income was received: 2023 2022 Child education Teacher sponsorship IGA worker Welfare Health care Fostering Food £51,053 £12,572 £1,930 £739 £1,216 £182 £2,055 £49,252 £2,936 £2.148 £630 £1,144 £28 £1,690 Page 11 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 io. RESTRICTED FUNDS- continued Emergency appeal Communityfund Shoes Child gift Other restricted income Special projects £4,324 £1,200 £134 £1,752 £1,992 £36,950 £15,575 £1,200 £81 £1,465 £2,202 £64,761 Total £116,099 £143,112 Page 12
CHILD OF HOPE DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME Donatlons and grants General funds Restricted funds 113,523 116,089 101,487 143,112 229,612 244,599 Investment income Deposit account interest 121 12 Total Incoming resources 229,733 244,611 EXPENDITURE Raising donations and legacies Travel and subsistence Fundraising costs Stationeryi Post and IT costs Administrative costs Insurance Independent examination 1,255 122 2,489 35,347 352 1,200 247 133 1,775 26,368 390 1,200 40,765 30,113 Other Uganda revenue fund 178,492 224,234 Support costs Finance Bank and other charges 708 714 Total resources expended 219,965 255,061 Net income/(expenditure) 9,768 {10,450) This page does not form part of the statutory financial statements Page 13