CharityfeÉi5tration number 1137936 Company rt8lstration numbe* 07333161 (England and Wales) HOPE CHURCH IPSWICH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
HOPE CHURCH IPSWICH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr IC Little Mr AL Souih Mrs D Cordle Mr O Sansom Mr5 C 83rlow (Appointed 12 June 20231 Charlty number 1137936 Cornpany nurnber 07333161 Prlnclp)l address The Hope Centre 10 St Mai8acet's Sifeei Ipswich Suffolk IP4 2AT Reilstered oftl The Hope Centre 10 St MarBaret's Sifeei Ipswich Suffolk IP4 IAT Independent exam5ner Staines and Co 235 Foxhall R¢Md Ipswich Suffoll IP3 8LF
HOPE CHURCH IPSWICH CONTENTS Pa8e Trustees, repori Independent exarniner'5 report siaternent of finèncial acti11*$ Balance sheet Noie5 to the linancial statements 7-14
HOPE CHURCH IPSWICH TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees presÈni their annual rèport and Iinantial staiements for the year ended 31 December 2023. The financial staterrsents ha¥e been Pfepared in accordance with the accountin8 policies set oul in note I to the financial statements and comply wilb the £harity'5 ArtIcS of Association. the Compènies Act 20D6 and "Accounting and fl@porting by Charities.. 5t3tem¢nt of Recommended Practice applicable to charities preparing their accounts in ai<ordance with the Finbncial Rep¢rtiriÉ Standard appliiable In the VK and Republit of I10nd IFRS 1021" las amended for accounting periods comrnenrin8 from l January 20161 Objectives and activittes The Charity's objectives are for the public benefit and are resrricted io the followin8- 11 To advance Ihe Chr15tian failh in accordance wilh the Staiement of Beliefs in such par15 of Ipswiih. the ljnited Kingdorn or the world as the Trustees may from time to time Think fil and fulfil Such oiher purposes which are exclusively charitable ccording to the Law of England & Wales and ale connerted with the charitable work of the charity.. 21 To relieve persons who are ID condition5 of need. financial hardship Dr si(kne55 and who may be aged and ro relieve the distress Caused thereby In ihe said location and In such other part5 of ihe United Kin8dom or the world as the Trustees may from lime io time think Ill., 31 To advance education on rhe basis ol Christian principles in the 5ald kncaiion and IA such other parts of the Uniied Kingdom Of the world ès the Tiustees may from time to time think fit.. 41 To providè or 4ssis¢ in ihe provision of lacilitie5 in the iniere$ts of sotial wellare for reCreatn or other leisure time occupation of individuals who have need of such la<iliites by weason of their youth, age. infirmiiy or disability, financial h8rdship or social ciicumstances with the object ol irnprown8 Iheir condiiions of life. Public benejit The trustee5 ha paid duè to Éuidante issued by the Charity C¢mrntssiofi in de£Ing what a<iiYities rhe ch3ritV should undefièke. Flnanclal revlew 17pserves policy 11 Is the polity of ihe charity thèt unrestiicted funds which have not been designèted for a specifi¢ usè should be rnainlained al level equivolenl lo three rnonrh'5 expen(Ji¢ure. The trusiees considers that reserves at tht5 level will enSUTe that, in ihe event of a significant drop in lundin8. Ihey will be able to continue the charity s cuffenl artiviiies while consideration is Riwen to wèys in which additional funds rnay be raised. This level ol reseive5 has been mainiained thiou8hovi the year. Mojoi risks The tru51ees have a55e55ed Ihe rnajor iisks io which the chariry is exposed. and are satisfied that 5¥5terns are in place to niiiiÉale exposure io rhe major r15ks. Structurei 8overnan£e and management The ckiaritv Is a iownpafjy limited by guarantee and ¢onsequentty does nol have shaTe Capital. Eaih of the tru5tee$ 15 liBble lo OntrbUIe an amount not exceeding £1 iowards the asset5 01 ihe charity In the event of liquidaiion.
HOPE CHURCH IPSWICH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR EAIDED 31 DECEMBER 2023 rh@ trustees. whts are also the directors lor the purpose of company13w, and who served during the yeèw and up to the date of 51Enature of the financial staiements WéTe- Mf AL South hAr B Acfield Mrs U Cofdle Mr D San50m Mis C Bar5ow (Resigned l April 20231 (Appointed 12 Jvne 20231 Recruitment ond oppoiniment ol tiustpe5 None of the trustees has any beneficial intere51 in the company. All of the tftsStees are members of the Company an guarantee to contribute £1 in the eveni ol a windin8 UP The company's current policy concerning the payment of trade ¢ieditors Is to follow the C81's Prornpl Payer5 Code (copies are available from the C81. Centre Point. 103 New Oxftsrd Street. London WCIA IDUI. The company's current policy concerning ihe payment off irnde <teditor5 is to- settle the ierms of payment with supplier5 when a8reein8 the te¥rns of each transaciion., ensure that 5upplier5 are made aware of the terms of paymeni by Inclusion of the relevant terms In contratts.. and pay in accordance with the company's contractU31 and other legal oblsgations. The trusttes, report was approved by the Board ol Trts5tees. Trustee 26 March 2024
HOPE CHURCH IPSWICH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE CHURCH IPSWICH I repoit to the trustees on my eamination ol the financial staternents of Nope Church Ipswich Iihe charity) for rhe year ended 31 December 2023. Responslbllitles and basls ol report As the trustees of Ihe charity land also its direttors lor the purposes of company lawl you are responsible for the preparaiion of the financial sratÈments In attordance with the reqhrernent5 of the Companies Aci 2¢X16 Ithe 2006 Actl. Having satisfied myself ihai the financial statements of the charity are not required to be audited vnder Part 16 of the 2006 Aci and are eligible for Independeni exam1naiion. I report in resperi of ry exarnination of ihe charitv's financial staternents carried oul un(Jer section 145 ot the ChaTlties Act 2011 Iihe 2011 Acil. In carrwng out my exèminatiofi I havè followed 311 the ppltcable Directions 8iven by the Charity Commission under section 14515llbl of the 2011 Act Independent Èxarnlfiei'$ statement Since the charity s gross Incorne exceeded £250.CO) ur emarniner musi be a mernber of 3 body listed in section 145 of the 2011 Att. I confirrn that l èrn qualified to undertake the ekamtnatton becatsse l am a member of IENTER IN DATABASE cy10151, which is one of rhe listed bodies. I have completed my exarnination. I conlirm that no rnoiiers come to rry attention in connection with the examination ivins me cause to believe that in any material respect. accounting records were not kept In respeci of the charit¥ a5 required by section 386 of ihe 2tyJ6 Act,. or the linancial statements do noi accord with those ietords.. or the fnancial statements do not comply with the èc¢ovntin8 iequirements of section 396 of the 2006 Act other than anv requiremeni that the accounis give a Irye and fair viev4 which is not a matter considered 35 pèn ol an indepÈnd@rit Èxèmination.. oi Ihe financial statements haw not been pfepareo In accordance wilh the methods and principle5 of the Statement Of Retommended Proctice for accounliTr8 and repoitin8 by Iharilies applicable io charities piepaiing Iheli accouiit5 in ¢¢ordance wirh Ihe Financial Reporlin8 Standard applicable In Ihe UK and Rewblic ol Ireland IFRS 1021. have no concer and have come a£ros5 no Oihei mèiiers In tonThec110n with ihe examinaiion to which atlention should be drawn in this port ¢n order to enable a proper understandiTrg of the financial s¢aternenis to be reached. aines and Co 235 Foxhall Road Ipswich Suffolk IP3 8LF Dai*d.. 27 March 2024
HOPE CHURCH IPSWICH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR EAIDED 31 DECEMBER 2023 Unrestrified funds 2023 R¢51rirted Totar Unre5tilrted funds 2022 Restricted lunds 2022 Total 2023 Notes 2023 2022 Incorne and endowments Irom: Donations and le8ècies Investrnenrs Other incorne 604,623 2.251 20.569 2S5.(1)9 859.632 2,25] 20,569 509.936 18 9,919 175,258 685.194 18 9.919 Total Income 627.443 25S.C#]9 882,452 519,873 175.258 695.131 Ejtpendlture on: R3isln8 fund5 726.791 177.689 9(M,480 530.S84 121.919 652,503 Total èxpendlture 726,791 177.689 ,480 530.584 121,919 652.503 Net In¢ome/lexpendlturel 199,3481 77.320 122,0281 sa,339 42,628 Transfeis between funds 45.330 1415.3301 10,995 110,9951 Net movement In funds 154,0181 31.990 122.0281 284 42,344 42,628 RKonclllatlon of funds.. Fvnrj balance5 èt l January 2023 887.234 55,561 942.795 886,950 13.217 9CX),167 Fund b•lances at 31 Decembe 2023 833.216 87.551 920,767 887.234 55,S61 942,795 rhe statement ol financial activities includes all 8ains and 10$5es recognised In the year. All Iorne and expenditure derive from continuing aCtitieS.
HOPE CHURCH IPSWICH BALANCE SHEET A5 AT 31 DECEMBER 2023 2023 1022 Notes Fixed 355ets Taneible èssels Current 3Sset$ li 1.875,343 1,997.241 Debttsrs Cosh at bank and in hènd 12 46.997 158,524 J8,636 110.622 205,521 129.2S8 Credltors: amouffls fallini dut wiihln one year 1180,1531 1162,8671 14 25.368 133,6091 Tot•1 •ssets les5 current Ilabilltl¢s 1.900,711 1.963,632 Creditors.. amounts lalliDE due after more th8n one yeèi 15 1979.9441 11,020.8371 920.767 942,795 asset5 Income funds Restricted funds Unfesiritted funds 16 87.551 833,216 55,561 887,234 920,767 942,795
HOPE CHURCH IPSWICH BALANCE SHEET ICONTINUEDI AS A T31 DECEMBER 2023 The cornpany is entitled to the exempiion Irom the audit reqvifemeni contained in section 477 of the Cotnpanies Aci 2006. lor the year ended 31 December 2023. The direciDrs ètknowledEe their responsibililiés for cornplyin% with the requirements of the Companies Act 2CK)6 with respect 10 accounting reco¥ds and the pieparation ol financtal statements. The members have not requi¥ed the CoMnY lo oblain an audlt ol its finanelal st3lements foi the year in quesrion in accordance with section 476. These financial siatements have been prepared in auordance with the provision5 applicable to cornpènies sublect to the small compènies re8ime. The finan 151atements were approved by ihe Trustees on 26 March 2024 Trustee Camp•ny Reilstrati•n No. 07333161
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting polleles Charity intormation Hope Chuf¢h Ipswich 15 3 p¥iwate ctsmpèny lirniipd by 8vaf3nteé incorporated in En8land and Wale5. The registered office is The Hope Centie, 10 St hAar8arer'5 Sireet. Ipswich. Suffolk. IP4 2AT. 1.1 Atcountlng convention The financial staiemenis have been pièpared sn accordance with ihe charitils constiturion, the Companies Act 2006, FAS 102 "The Finaniial Rèpoiling Standard appliiable in the UK and Republic of Irtrlènd" I-FRS 102~1 and Ihe Charite$ SORP 'Accountin8 and Reporting by Char%lies-. StaterneTht of Recommended Prac¢ice applitablo to chariries preparin8 Iheir accounts in èc£ordance wilh the Financial Reportin8 Siandard appltcèble In the UK and Republic of Ireland IFRS 1021" (effective l January 20191. The chariiv is 3 Public Benefit Enviiy a5 defined by FR5 102. The ch3rity has taken ad¥anta8e of the pTLMslons in the SORP lor charities not to prepare a Statement of Cash Flows. The financial statements are prepared in 51tflin& which Is the functional ¢vrrency of the chaiity. Monetary amounts In Ihese financial sialement5 are rounded to ihe #earesi £. The financial siatemenis have been prepared under the hisiorical cosi conwentiory. modified io Include the Tevaluation of freehold properties and to include investmeni properties ahd certain l¢narscial insiruments at fair value. The principal 3¢counling policies adopted afe set out below. 1.2 Golng concern At th@ lime ol approvin¥ the financial siaternent5. Ihe trustees have a reasonible expettatlon that the charity has adequaie resources 10 cOnlnUt In 0ratiOnal exisience for thtr loieseeèble future. Ihu5 the trustees continue to adopt the 80in8 ioncern basis of accouniiD8 in preparing ihe financial statemenis. 1.3 Charltable Ivnds Uryrestiicted lunds are av341able lor use at the discretion of the Irusiees In futtherance ol Iheir eharitable objectives. Restricted lund5 ore svbiect io specilic £onditlOn5 by donors or graniors 35 io how ihey may be used The purposes and uses of the restricted tunds are sei out in the nores io the financial staiemenis. Endowment Ivnds are subje£1 to speeilic Conditn$ by éonurs thèi the t3pital must be maintained by the charitv. 1.4 In¢ome Income Is reiognised when ihe chaiily is legally eDtitleé io li afier an¥ perlormènce £ondition5 have been met, the amgunts can be measured feliably. and li is probable thbt iniome will be received Cash dtrnations ale ieco8nised on receipt Olher don3lion5 ale reco8nised once the charity ha5 been notified of ihe donation. unless performance condition5 reqvire deferi31 of ihe arnOnt. Income tax recoverable in relation io donations received vnder Gift Aid or deeds of ¢o¥enant is recognised at the tirne of the donation. Legacies are fecogni5e¢J receipt or otheTW15e *1 the rharily has been notilied ol an impendsn2 distribution, thè ?rnount is known. and receipt 15 expetted If the amount is ntst known. Ihe le8acy is tiealed 35 a £ontinRent asset.
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 ouniin8 pollrles ICont4nuedl 1.5 Expefjditur E¥penditure Is recognised once ihere is a le8al or (onstructive obli8ation io transler economic benefit to a third party. il is probable that a transfer ol economic berTrefilS will be ieouired in 5ettlérnent. and the amount of the obllÈation can be measurÈd relièblv. Expenditure 15 dassified by activity. The c¢)sts of each activity ale made up of the t¢ièl of direct cost5 and shared cosis, including sUPPOrt costs involvÈd in undertakin& each èctivity Direct C0515 attribuTable to a single activity are èllocated directly 10 that activity. Shared cost5 whKh ioniribuie io rnore than one activity and support cost5 which are not aiiribuièble to è sin8le activily are apportioned between those activities on a basi5 con51Stent with the use of resources. Central staff cost5 are allocated on the basis of iirne spenl, and depretiation char8es a allocated on the portion ol the asset's use. 1.6 Tan8lble lixed assets Tangible liwed a$5eis are tniiially measured ai cost and subsequently me•sufed it cost or valuation. net of depretiaiion and any impairrneTrr losses. Depreciation is recogni5ed $0 as to write olf the (ost or valuation of assets It55 their residual values over their useful lives on the followin6 bases.. Freehold land and buildin8S Furniture & Equipment Music Group & PA 3% stratr8ht line on buildiTh8s only 25% strailhi linè 25% strii8hi Ilne Freehold land is not depreciated. The gain or loss arisin8 on the disposal of arb ass is deiÈrmit)ed Is Ihe dilferon¢e between the sale proceeds and tho cairyinB value ol the asset, and is recognised in the statement of finaniial aclivities. 1.7 Imp•lrment olfixed assets At each reporting end dale. Ihe ¢harily reviews the carryin8 amounts of its tangible assets to determtne whethet there s any indication that those assets have svffÈred 3n impairrNent Ioss li any such Indication exists, the recoverable amount of the asset 15 estirnttted rn ordei to determine the ex¢eni of the impairment loss lif anvl. 1.8 C*sh and ¢ash e4uivalents Cash 3nd cash eouivalenis Inilude cash ITr han¢J. deposirs held at call th banks. other short-term liquid inve51rnents with original rnaturities ol ihree months or le55, and bank ¢>verdrafts. Bank overdralts afe shown within borrowin85 I 1.9 Flnan<ial Instiuments The charity has eleiied to apply rhe prov1510ns of Section 11 'Basic Finarbcial Inslfuments, and Seciion J2 '0ther financial In5trumÈnls Issues. ol FRS 102 to èll ol Ils linancièl instrurnents. Financial instruments are recognised In the thariiy's balince sheet whon the charily becomes party to the contractual provisions of ihe instrument Financièr asseis and liabilitie5 èro 0tt5ei. with the net amounts presented in rhe Iinancial statement5. whÈn therè is a leEally enforceable right to sei olf the recognised amounts and theTe Is èn iniention io setlle on è net basis or to realise the a55et and Settle the liability 51multaneous'v.
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Arcountini policies Icontlnuedl 8oslclinanclolossets Basic fin3ntiÈl assets. whKh Include debtors and cash and bank balances, are initially measured at tran54Ction price including transaction costs and are subsequently tarTied ai amortisÈd tost using the eflec14ve interest rnethod unless the arrangernent con5titute5 a financin8 transattion. where the traTh5aCtion Is measured at ihe present Value of the future receipts d15counied ar a rn3rkei rate ol inleresl Fifiancial 3ssets cIH55ilied a5 Teceivable within one year are nol mortised. Bgsklinonrlol liobllltl¢s 8•sic financial Iiabilitie5. Iniludinz cieditors and bank loans are initially retO8nised at tiansèciion price unless the arfangemeni constllutes a finaniing tfansaltion. where the debl instrument is measured ai the present value of the future payrneTriS disiounied at a market faie 01 Inierest. FIn(la1 li3biliiies classified as pèyable within one year are not amort15ed. Debt insirumenis are sbseQuentIY Cafried at amortised cosi, using the effective interest rate method. Trade creditors are obli8aiions to pay lor 8oods or serwces ¢har have been acquired in the ordinary course ol operations from suppliers. Amounis payable are cla55ilied as currefit Ivdbilities If payrnÈnt 15 due within one year Of less. If Dot, Ihey are presented •& n0n-£urrent liabilitiès. Trade creditors are recognised Initièlly at iransaciion price ané Subsequently measured at amOrt$ ¢ost usin8 thè effettivÈ snieresi method. Dere¢o9nltion ofAlnon¢l•l 11obllltles Financial liabilities are dereto8n15ed whtn the charitws conrractual obliÉatitsns expire ¢1 ère dis¢h•fBed or cancelled. 1.10 Ernployeè benefit5 The co51 Of any unu5e(J holiday eniitlemeni is retQ8nise¢ in ihe pefiod in which the ernployee'9 services are received. Tefrninètion beneliis are reco8ni5ed immediaiely as an expense when the charily is tlernonstrably tommitted to terminate the employment of an employee oi io provide ierrninaiion benefits. Critl<¥l •¢¢QUniini estimates and lud8emenis In ihe applicaiion of the ¢harity'5 è¢tounlin8 policies. ihe tfUStees èle vÈquired to make judgèments, Eslimates Ind Ssurnpiions about the carrying arnouni of assets ar*d liabililies thai are not readily apphrefjl from Other sources The estimates and associated assumptM)ns afe based on historical expeiience and oiher facioF5 Ihai are £on51dered to be relevant. Artual results mty diffef liom these estimates. The estimates and underlwn& 355UrnPtions are reviewed on In ongtiin8 basis. Revisions io accountine esiimaies are recognised in the period in which rhe estirnate is revised where ihe revision affect5 only that period, or in the period of the revision and fUlre periods where ihe iewswn affeLis boih cufient and future peiiods.
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Dtsnatiorts and le8acSt5 Unre5trlcted fufids Resiri¢ted fund5 Total UnTesiricred lunds Restritied fund5 Total 1023 2023 2013 2022 2022 2022 Donations and Èifts Grant5 receivable Gift aid reclaimed 496.547 224.970 340 29.699 721,517 1,340 136.775 425.151 140.911 12,000 22,347 566.062 J2,000 107,132 107,076 84,785 604.623 255.LMJ9 859.632 509,936 175,258 685.194 In¢ome from In¥*5trnen¢s Unresirlcted fund5 2023 Unrestricted luThds 20Z2 Inieresi receivable 2.251 18 Other In¢ome Unrtstrlrted funds 2013 Unrestrlrted fund5 2022 Renlal income 20,569 9,919 10
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 3] DECEMBER 2023 E¥penditure on raising fund5 Unréstrirted funds Restrl¢ted lunds Totsl Unrestricted funds Restricted funds Total 2023 2023 2023 2021 2022 2022 Fundraising and publlcitv 5laEing lundiaisinÉ events staff costs Depreciation and impaiirneAt Support iosts 4.295 28S,78S 4.295 285,785 3,34S 191.405 3.345 191,40S 101,219 335.492 101.219 513,181 I,336 235,498 100,336 357,417 J77,689 121,919 726.791 177,689 904.480 930,584 121,919 652,503 Net movement In funds 2023 2022 The net rnovemeni in futhd5 IS 51ated after char8in8llcredilin81.. Deprec13tion ol owned t3n8ible fixed asseis 101.219 100,336 Tru$t¢es None of Ihe trvstees lor persons connected with them) ieceived any remunerèiion Of benelits from the charitv during Ihe year. Employe05 The a¥erage monihly number of employee5 dunn8 the Year was-. 2023 Number 2022 Number 15 Employment costs 2023 2022 Wages and salaries Sotial 5ecu¥ity C05t5 269,136 16,649 180,944 10.461 285,785 191.409 There were no Èmployees whose annual remuneration w35 more ihèn £60.LKKI.
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 io TaMa¢ion The charity is exempt frorn taxation on its activities because all its income is applied for charitable purposes. li TahKible IlYd asset5 Fi••hold l•nd •nd bull¢Jing¥ Furniture &Musl¢ Group & Equlpment PA Total Cost Al l Januaiy 2023 Addition5 Dlsposals 2.060.(0 161.252 1,357 15451 24,494 1,299 11,4481 2,245.746 2.656 125.3281 123,3351 At 31 Decembei 2023 2.036,665 162,064 24,345 2,223,074 Oepreclatlon •nd Imp•Srmeni Al l January 2023 Depreciation chèf8èd in the year Elirninateé in rt5peci ol disposals 164,949 61.LQO 62.492 38.060 15451 21,064 2.059 11.4481 248.505 101,2J9 11.9931 Al 31 Oecernbei 2023 226.049 10).th)7 21,675 347,731 Carrylnz amount At 31 December 2023 1,810.616 62,057 2.670 1.875,343 Al 31 December 2022 1.89S.0S1 98.760 3,430 1,997.241 12 Debtofs Arnounts lallln8 due wiihln one year.. 2023 2022 Trade debtors Other debtors Prepayrnents and accrued income 397 7,138 ii,ioi 29,401 17.596 46.997 18.636 12-
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Loan5 and gverdrafts 2023 2022 Bank loans 1.112,259 1.144.957 Payable within one year Payable aftei one year 132,315 979.944 124.120 1,020.837 14 Cieditor5'. amounts f•llln8 due wlthln one year 2023 2022 Notes eank loans Other ièxaiion and so¢s•l secuiify Trade creditors Other creditois Accruals and deferred income 132.315 122.6011 41,037 22,251 7,151 124,120 12,1961 4.685 24.604 11.6S4 180,153 162,867 IS Creditors-. amounts fallln8 due aftei rnore than one year 2023 2022 Noie5 Bank loans IJ 979.944 1.020,837 16 Resttitted fuhds The restricted funds ol the charity iompfise the unexpended balances of donations and Brènts held on irust subject 10 spec1fic <onditions by donors as to how Ihey may be used. Al l January 2023 Incornin8 resources Resourrts expeThded Transfets At 31 December 2023 55.561 255.lJ)9 1177.6891 145.3301 87,551 Previous yèar.. Al l January 2022 Incom4nK resources Resourt¢s expended Translers At 31 December 2021 13.217 175.258 1121,9191 110.9951 55,561 13
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENT5 ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Unrestricted Ivnds The unresiricted funds ol the charity compiise ihe uneApended balances ol donations and grants which are noi subject 10 5petific condiiion5 bv donors and eranlors as to how they may be used. These include designated fund5 which have beefi Sei aside out ol unrestrKted lund5 by ihe trustees lor specific purposes. At l Jlnuarv 1023 In¢ornl rt50ur¢e5 Re50Vl£e5 txpended Yr•n5fets At 31 De£ernbÈr 2023 General funds 887.234 627.44a 1726,7911 45.330 833.216 pre105 ar.. At l Jantsary 2022 Incomin8 resources R*sources expended Transfers At 31 Detember 1022 General funds 886,950 519.873 1530,5841 10,995 88?,234 18 An•lysls ¢+1 net assets between funds Unréstrlcied fund5 2013 Pestricttd fund5 2023 Total 2023 At 31 December 2023.. Tan8ible èsse15 1.787.792 25.368 1979.944 87,551 1,875.343 25,368 1979,9441 Lon8 term liabilities 833.216 87.551 920.767 Llnr¢5tflrted funds 2022 Restrl£ted Total 2022 2032 At 31 December 2022.. Tan8ible assets 1,941.680 133.6091 11.OZO.8371 55,561 1,997,241 133.6091 11,020.8371 887.234 55.56J 942.795 19 Related party transartions There were no disclosablÈ related party transactions during Ihe year12022- nonel. 14.