REGISTERED CHARITY NUMBER: 1136068 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 2024 Page Report of the Trustees I to 4 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 13 Detailed Statement of Financial Activities 14
CHILD OF HOPE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 Organi5ation 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 training, to assist parents of children in such need with relief of financial hardship through enterprise initiatives. Significant activities Construction commenced on a new A-level block of classrooms at our secondary school, the Gill Sherlock Memorial Secondary School. A-level lessons commenced in March 2024 in a temporary building. Public benefit Child of Hope's main rose 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 nur-sery, primary and secondary age in the slums near Mbale, eastern Uganda- and many 'wrap-around' services 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. Page I
CHILD OF HOPE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES 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 individua15 and groups about further funding for projects which they wish to support. These grants were awarded: o Care and Relief for the Young (CRY) £500 per month o Farthing Trust £5,000 o The Valentine Charitable Trust £10,000 o The Souter Charitable Trust £6,456 o The Archer Trust £2,500 o Harbinson Charitable Trust £500 o Gilchrist Educational Trust £1,000 o The Norman Whitely Trust £1,014 o Seedfield Trust £1,300 o Marsh Charitable Trust £500 o Clive Richards Foundation £7,000 o The Jephcott Charitable Trust £9,600 o Father O'mahony Memorial Trust £1,000 o Franciscan Aid £1,584 o Oakley & Wooton Missions Action Group £1,000 Donations The charity website, which we share with Child of Hope Uganda, contain5 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 activities The annual accounts for 2024 show that a total of £260,611 was received from different sources by the charity. Monies transferred to Uganda in the period totalled £225,921, and a sum of £27,650 tiust 10.90Yo was used to cover UK activities: bank and other fees, fundraising, supporter communications. administration, monitoring funds and accountability. In Uganda, a number of fee-paying students are allowed to join the schoo15, which enables the Ugandan NGO to be partly self-sustaining. 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. 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 and department managers met regularly with the UK trustees on Zoom and reported on progress and developments in their work. On a special trip (funded by himself) one of the UK trustees spent two weeks at our schools in Uganda to enhance working relationships and transparency. Page 2
CHILD OF HOPE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Reserves policy Tota5 resenies at the year end were £32,644, increased from £25,604 as at 31st December 2023. The trustees deem the level of reserves sufficient to matntain charitable activities with continued growth for the financial year. The restricted funds balance at 31st December 2024 is £8,239 {2023 £nil} with all income received being paid out for the principal activities in Uganda. FUTURE PLANS During 2025 and 2026 in Uganda, we aim to expand our new A-level block from two classrooms to eight at our secondary school. Longer-term plans include the building of a nursery school and potentially a primary school, both in the poverty-struck Karamoja regions. STRucfuRE, GOVERNANCE AND 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. Our UK director conducts face-to-face familiarisation with new trustees, explaining the role of COH UK and the new trustees, meeting existing trustees and others involved with the charity, such as the service providers and volunteers. They also discuss: current marketing literature and impact report, - annual report/accounts, - the charity's governing document, minutes of the last trustee meeting, - The Essential Trustee: What you need to know ICC3), the charity's policy on dealing with conflicts of interest, any other key documents which trustees will need, for example, the charity's strategic plan and its vision and values or mission statement. Related parties During the year Rachel Clark who is married to the trustee Paul Clark provided digital marketing services to the value of £6,125.00 (2023 £4,281.00) 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 Pa2e 3
CHILD OF HOPE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 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 Thoma5 JGFirth Chair of Trustees S Burton Independent Examiner CJ Fairhall FCCA Newton Magnus Chartered Certified Accountants Arrowsmith Court Station Approach Broadstone Dorset BH18 8AT COMMENCEMENT OF AcfiviTIES 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 on . and signed on its behalf by: S Burton - Trustee Page 4
INDEPENDENT EXAMINER'S REPORT TO 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 2024. 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 requirements 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualifsed to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination, I confimi 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) ReEulations 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. C J Fairhall FCCA Newton Magnus Chartered Certified Accountants Arrowsmith Court Station Approach Broadstone Dorset BH18 8AT Date". Page 5
CHILD OF HOPE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds U nrestricted Restricted fund fund Notes INCOME FROM Donations and grants 105,369 155,028 260,397 229,612 Investment income 214 214 121 Total 105,583 155,028 260,611 229,733 EXPENDITURE ON Administration costs 27,650 27,650 41,463 Other 79,132 146,789 225,921 178,502 Total 106,782 146,789 253,571 219,965 NEf INCOME/(EXPENDITURE> {1,1991 8,239 7,040 9,768 RECONCILIATION OF FUNDS Total funds brought forward 25,604 25,604 15,836 TOTAL FUNDS CARRIED FORWARD 24,405 8,239 32,644 25,604 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 6
CHILD OF HOPE BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund fund Note5 CURRENT ASSETS Debtors Cash in hand 4,426 23,522 4,426 31,761 1,731 26,900 8,239 27,948 8,239 36,187 28,631 CREDITORS Amounts falling due within one year 13,5431 13,543} 13,0271 NET CURRENT ASSETS 24,405 8,239 32,644 25,604 TOTAL ASSETS LESS CURRENT LIABILITIES 24,405 8,239 32,644 25,604 NET ASSETS 24,405 8,239 32,644 25,604 FUNDS Unrestricted funds Restricted funds 24,405 8,239 25,604 TOTAL FUNDS 32,644 25,604 The financial statements were approved by the Board of Trustees and authorised for issue on 29.. ARA1.20.2...... and were signed on its behalf by: S Burton - Trustee P NFlark - Trustee The notes form part of these financial statements Page 7
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 IFRS 102} 'AccountinE 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 20191,, 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 8 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENT INCOME 2024 2023 Deposit account interest 214 121 ADMINISTRATION COSTS Raising donations and legacies 2024 2023 Travel and subsistence Fundraising costs Stationery, post and IT costs Administrative costs Insurance Independent examination Support costs 74 122 2,032 23,155 372 1,200 695 1,255 122 2,479 35,347 352 1,200 708 27,650 41,463 TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses Trustees, expenses for the year ended 31 December 2024 totalled £nil {2023 £nill. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted Restricted fund fund Total funds INCOME FROM Donations and grants 113,513 116,099 229,612 Investment income 121 121 Total 113,634 116,099 229,733 EXPENDITURE ON Administration costs 41,463 41,463 Other 62,403 116,099 178,502 Total 103,866 116,099 219,965 Pa8e 9 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted fund fund Total funds NEf INCOME 9,768 9,768 RECONCILIATION OF FUNDS Total funds brought forward 15,836 15,836 TOTAL FUNDS CARRIED FORWARD 25,604 25,604 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors 4,426 1,731 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 3,543 3,027 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds General fund 25,604 (1,199) 24,405 Restricted funds Other restricted 8,239 8,239 TOTAL FUNDS 25,604 7,040 32,644 P3ge 10 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 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 105,583 1106,782} 11,1991 Restricted funds Other restricted 155,028 1146,789) 8,239 TOTAL FUNDS 260,611 {253,571) 7,040 Comparatives for movement in funds Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 15,836 9,768 25,604 TOTAL FUNDS 15,836 9,768 25,604 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 113,634 1103,866) 9,768 Restricted funds Other restricted 116,099 1116,099} TOTAL FUNDS 229,733 1219,965} 9,768 Page 11 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.12.24 At 1.1.23 Unrestricted funds General fund 15,836 8,569 24,405 Restricted funds Other restricted 8,239 8,239 TOTAL FUNDS 15,836 16,808 32,644 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 219,217 (210,648) 8,569 Restricted funds Other restricted 271,127 1262,8881 8,239 TOTAL FUNDS 490,344 1473,536) 16,808 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 12 continued...
CHILD OF HOPE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 10. RESTRICTED FUNDS During the year the following restricted income was received: 2024 2023 Fundraisers & events Child education Teacher sponsorship IGA worker Welfare Health care Fostering Food Emergency appeal Community fund Shoes Child gift Other restricted income Special projects £1,765 £52,652 £ii,oio £1,080 £1,317 £1,371 £449 £5,045 £9,935 £1,200 £225 £1,200 £1,897 £65,981 £nil £51,053 £12,572 £1,930 £739 £1,216 £182 £2,055 £4,324 £1,200 £134 £1,752 £1,992 £36,950 Total £155,027 £116,099 Page 13
CHILD OF HOPE DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME Donations and grants General funds Restricted funds 105,370 155,027 113,513 116,099 260,397 229,612 Investment income Deposit account interest 214 121 Total incoming resources 260,611 229,733 EXPENDITURE Raising donations and legacies Travel and subsistence Fundraising costs Stationery, post and IT costs Administrative costs Insurance Independent examination 74 122 2,032 23,155 372 1,200 1,255 122 2,479 35,347 352 1,200 26,955 40,755 Other Uganda revenue fund 225,921 178,502 Support costs Finance Bank and other charges 695 708 Total resources expended 253,571 219,965 Net income 7,040 9,768 This page does not form part of the statutory financial statement5 Page 14