Charity registration nymlxr 1137936 IEn8land and Wales) Company rtgistration nurnber 07333161 HOPE CHURCH IPSWICH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
HOPE CHURCH IPSWICH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr IC Little Mr AL South Mrs D Cordle Mr D Sansom Mrs C Barlow Charity number (Eniland •nd Wale51 1137936 Comp•ny number 07333161 Prlnclpal addr$ The Hope Cèntrè 10 St Mar8arei's Sireet Ipswich Suffolk IP4 2AT Reglstered office The Hope Centre 10 Si Margaret's Street Ipswich Suffolk IP4 2AT Independent examlner Staines and Co 235 Foxhall Road Ipswich Svffolk IP3 8LF
HOPE CHURCH IPSWICH CONTENTS Pale Trustees, report Independenl examiner's report Statement ol financlal actlvities Balance sheei Notes to the financial statements 7-14
HOPE CHURCH IPSWICH TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements fortheyear ended 31 Decèmber 2024. The financial statements have been prepared in accordance with the atcountin8 policies set out in note I to the fnancial statement5 and comply with the charily's Article5 of Association. the Companies Att 2006 and 'Accountin8 and Reporting bv Charities.. Statement of Recommended Practice applicable to charities preparin8 their account5 in accordance with the Financial Reportin8 Stan(Jard applicable in the LIK and Republic of Iland IFRS 1021- las amended for attountin8 perlods commencing from l January 20161 Oblettl¥es and artl¥ities The CharitV'5 objectives are forthe public benefit and are rèstrirted io the following= 11 To advance rhe Christian faith in accordante with the Staiement ol Beliefs in such pèrts of Ipswich. the United Kingdom or the world as the Tru5tee5 mty from time to timè think fit and fulfil such other puiposes which are exclusively charitable according to the Law ol England & Wales and are connected with the charitable work ol the charity., 21 To relieve persons who are in conditions of need. financial hardship or slckness and who may bt agèd and to relieve rhe distress iaused thereby in the said l¢Kation antl In such oiher parts ol the Un¢ted Kin8dom or the world as the Trustees mav from time to time think fti., 31 To advance education on the basls of Christian principles in the said locatlon and in such other parts of the United Kingdom or the wgrld as the Trustees may from time to time think fit.. 41 To provide or assist in the provision of facilsties in the inierests of social welfare lor re(atIOn Of Other leisure timè occupation of individuals who have neèd of such Facilities by rea50n of thèir youth, age. infirmity or disability, financial hardshlp or 51xial circumstances with the gbject ol improvin8 their conditions ol life. Public beneflr The trustees havè paid due regard to 8uid4nce issued by the Charity Commission in deciding whai activlties the charity should undertake. Flnanclal revltw Reserves policv 1115 the policy ol the charity that unrestricted funds which have not been designated lor a specifii use should be mainrained at level equivalent to three month's expenditure. The trustees consider5 that reserves at this level will ensure that, In rhe event ol a si8nificant drop in funding, they will be able to £ontinue rhe charity's current activities while tonsidefationls given to ways in which additional funds may be raised. Thi5 le¥el of restrvès has been maintatned rhroughout the year. Mojor ri5k5 The trustees have assessed the major ri5k5 to which the charity is exposed. and are satisfied that systems a in place to mitl8ate exposure to the major risks. Struciure, iu¥ernance and mana¢ement The chartty is a company limiied by Buarantee and consequentty does not have share capital. Each of the trustee5 is liable to contribure an amount not exceeding £1 towards the assets ol the charity in the event of liqvidation. The trustee5. who are also the directors for the purpose of cornpany law. and who seThed durin8 the year and up to the date ol signature of the financial staiement5 were.. Mr IC Little Mr AL South Mrs O Cordle Mr D Sansom Mrs C 8arlow
HOPE CHURCH IPSWICH TRUSTEES, REPORT {INCLUDING DIREOR$, REPORT) (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Recruttment ond oppoftntment ol trustees None of the trustees has any beneficial interest in the company. All of thè trustees are members of the company ané guarantee to contribute £1 in the event of a windin8 UP. The company's current policy concerning the payment of trade cieditors is to follow the C81,5 Prompt Payers Code Icopies are available from the CBI. Centre Point, 103 New Oxford Street. London WCIA IOU). The company's current polity concerning the pawneni of irade creditors is to.. settle the terms of payment with suppliers when a8reein8 the ierms of each transaction.. ensure thai suppliers are made aware of the terms ol payment by inilusion of ihe relevant term5 in contratts,. and pay in accordance wlih the company's contfactual and other legal obligations. Thè trustees. port was approved by the 8oaid ol Trustees. Mr IC Little Trustee 27 Au8USt 2025
HOPE CHURCH IPSWICH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE CHURCH IPSWICH I report to the trustees on my examination of the financial statements ol Hope Church Ipswich Ithe chafityl for the Year ended 31 December 2024. Re5ponslbllities and basls ol report As the trustees of rhe charity land also tts direttors for the purposes of compary lawl. you are responsible lor the preparation of the financial statements in actordance with the reovirements ol the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not reqVI to be audited under Part 16 of the Companies Act 2006 and are eli8ible for independent examination, I report in respect ol my examination ol the charity's financial Statements carfled out under section 145 of the Chaflties Act 2011. In carryinB out my examination I have followed the Diiections given by the Charity Commission under section 1451Sllbl of the Charitses Act 2011. Independeni ejtamlner's statement Since the charify'5 gr05s income exceeded E250,0th), the independent examiner must be a member of a body Itsted in section 14S of the Chafiries Att 2011. 1 confirm that l am qualified to undertake the examin*ion bècause l am a member ol A550Ciation of AccountinB Ttchnlclans IAATI. which is one of the listed bodies. I have completed my examination. I confirm that no rnatters have come to my attention in connection with the examination givin8 me cause to bèlieve that in any material respect: (counting records were not kept in respeci of the charity as reqUId by settion 386 of the Companies Act 2CK)6. the financial statements do noi accofd wirh thost records- or the financial statemènts do noi comply with the accounting requirements ol section 396 of the Companie5 Act 2006 other than any requirement thai the linancial statements give a true and fair view. which is not a matrer considered as part of an independent exarninaiion- or the flnancial statements have rbot been prepared in accordance wilh the MhodS and pr¥nciples ol the Statement ol Recommended Practice for a£counttnK and reportlllg by Charifi applicablt to tharities preparin8 their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Rtpublic ol Ireland IFRS 1021. I have no concerns and have come across no other matters in conneuion with the examirtation to which attention should be drawn in this report tn order to enable a proper undersianding of the financial srarements to be reached. Stalnes and Co 235 Foxhall Road Ipswich Suffolk IP3 8LF 28 August 2025
HOPE CHURCH IPSWICH STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrtstrl¢ted Aestrlrted fvnds fvnds 2024 2024 Total Unrestricthd funds 2023 R•strlrtd funds zoij Total 2024 2023 Notès Income and endowments from: Donorions and legacies Investments Other income 644.596 5.757 26.944 224.977 869.573 5,757 26,944 604,623 2,251 20,569 255.009 859.632 2,251 20,569 Total Intome 677.297 224,977 902.274 627.443 255.W9 882,452 Expendlture on: Raising funds 717.473 138.178 855,651 726,791 177,689 904.480 Totsl exp¢ndlture 717.473 138.178 855.651 726,791 177.689 904,480 Incomtlléxptndlturel 140,1761 86,799 46.623 199,3481 77,320 122,0281 Transfers between funds 53,787 153.7871 4S,330 145.3301 Net rnovernenl In lunds 13,611 33,012 46,623 154.0181 31.990 122,0281 Reconclll4llon of lunds: Fund balances at l January 2024 833,216 87.551 920.767 887,234 55.561 942.795 Fund balances ai 31 Decemlxr 2024 846,827 120.563 967,39) 833,216 87,551 920.767 The statement of ftnon¢ial activities includes all Bains and losses recognised in ihe year. All income and expenditure derive from tontinuin£ activties.
HOPE CHURCH IPSWICH BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible a55ets Current asseis Debtors Cash at bank and in hand Ji 1,766.157 1,875,343 12 29,450 207.181 46,997 158,524 236.631 205,521 Credltors: •rnounts falllni due wlthln one veaf 14 1126.6501 1180.IS31 Net current assèts 109.981 25.368 Total asset5 less current Ilabllltlts 1.876.138 1,900,711 Credltors.. amounts f•llln& due after more than one year 15 1908,7481 1979,9441 Net assets 967,390 920,767 Incomè lunds Restricted fund5 Unrestricted funds 16 120.563 846.827 87,551 833,216 967,390 920,767
HOPE CHURCH IPSWICH BALANCE SHEET (CONTINUED) AS Af31 DECEMBER 2024 The company is entitled to the exemption Irom the audii requirement contsined in section 477 of the Companies Att 2006, for the year ended 31 December 2024. The directors acknowledge their sponsibl1111eS for complying with the requirements of the Compan*es Act 2LKJ6 with respect to accounting records and the prèparation of financial statements. The members have not required the company to obtain an audit of ils financial statements for the year in question in accordance with section 476. These financial statements have been prepartd in accordance with the provisions opplicable to companies subject to the small companles regime. The fin ncial Statements were approved by the Trustees on 27 Au8USt 2025 Mr IC L5ttle Trustoe Company Reglstrillon No. 07333161
HOPE CHURCH IPSWICH NOTE5 TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Actountln8 policies Ch¥rity Infomia¥on Hope Church Ipswich is a private company limited by guarantee incorporated in England and Wale5. The re8lStered office is The Hope Centre. 10 St Margaret's SireeL Ipswich, Suttoll IP4 2AT. 1.1 Basis of pleratIon The financial statements have been prepad in accordance with the charity's constitution. the Companies Act 2tXJ6. FRS 102 'The Financial Report*n8 Standard applicable in the UK antl Republic of Ireland~ I-FRS 102.1 and the Charities SORP 'Accounting and Reporting by Charities= Statement of Recornmended Practice applicable to charitie5 preparlng their accounts In accordance with the Financial Rertin8 Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. The charity is a Publit Benefit Eniity a5 defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Siatement ol Cash Flows. The financial starement5 are prepared in sterlin& which is the funrtional cuirerKy ol the charity. Monetary arnounts In these financial statement5 arè rounded io the nearest £. The financial statement5 have been prepared under the hisrorical cost convention, modified to include the revaluation of freehold properties and to in£lude investment properties and certain financial instruments at lair value. The principal accounting policiès adopted are set oui below. 1.2 Golni concern At the limè of approving the financial statements. th• irustees have a rea30nable expectation that the charity has adequate rèsources to conrinuÈ in operaiional existencè for the foreseeable futur•. Thus the trustees continue to adopt the 80ing concérn basis of accountin8 in pieparinK the linancsal statemenrs. 1.3 Charliable fvnds Unrestricted funds are avaSlable for yse at the dis(fetion of the trvllees in furtherance of their charitable oblettlves. Restricted funds are subject to specific condirions by donors Of 8rantors as to how th may be used. The purposes and uses of the restricted funds are set out in the note5 to tht financial Matements. Enitowment funds are Subject to Specific conditions by donors that the capital murt be maintained by tht charity. 1.4 Income Income is OgniSed when the charity is lÈealty entitled to it after any performance condition5 have been meL the amounts can be measured rtlièblytr and it is probable that income will be rtteived. Cash donations are recoRnised on receipt. Other donations are re(08nised once the charity has been notified of the donètion, unless performance conditions require deferral of the amount. Income tax recoverable in relarion to donation5 recetved under Gift Aid or deeds ol covenani is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution. the amount 15 known, and receipt is expected. If ihe amount is noi known. the legacy is treated as è contingent a55et.
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountbng pollcles Icontinutdl 1.5 Expendlture Expenditure is recognised orsce there is a le8al or constru(ti¥e obligation to tran5fei economic benefit to a third party, it is probable that a transfer of economi¢ benefits will be required in settlement. and the amount of the obligation can be measured reliablv. Expenditure is classified by activity. The cosis of each activity art made up of the total of direct COSt5 and shared costs, includin8 SUPPOrt costs involved in undertakin8 each activity. Direct costs attrtbutable to a single activity are allocated directly to that activity. Shared costs wh¢ch contribute to more ihan one activity and support costs which are not attributable to a single activity are apportioned between those activittes on a basis consistent with the use ol resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion ol the asset'5 use. 1.6 Thngible Ilxed a55et5 Tangible fixed assets are initially measured at cost and subsequenily meè5ured at C05t or valuation, nèt of depreclatlon and any impairment I0e5. Depreciation is recognised so as io write off the cost or valuation of assets less ihelr resldual values over their useful lives on ihe lollowin8 ba5es.' Freehold land and builtlin8S Furniture & Equipment Music Group & PA 3% straight line on buildln85 onty 25% straight line 25% srrai8hr line Freehold land is noi depreciaied. The 4ain or loss arising on the disposal of an a55et Is determined as the dIffenCe between the sale proceeds and the carryin8 value ol the a55et. and is reco8nised In the statement of financial attivities. 1,7 Imp¥lrment of fijred assets At each reportlng end date. the charity reviews ihe carrying amounts of its tan8ible as5et5 to determine whether there is any Indication that th05è a5Sèts have suffered an impairment loss. 11 any such indication exists. the recoverable amount of the asset is esiimated in order to determine the extent ol the impairment loss lil anyl. 1.8 Cash and Cash equtvalents Cash and cash equivalents include tash in hand, deposits held at call with banks. other 3hort.term liquid investment5 with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing5 in 1.9 FInCIal Instrurnents The charity has elected to apply the provision5 of Section 11 'Basic Finantial Instruments, and Section 12 '0ther Flnancial Instruments Issues. ol FRS 102 to all of its financial instruments. Financial instruments are recognised irb the chariWs balance sheet when the charity becomes party to the contractual provisions of the In5trumeni. Financial assets and liabilities are offset. vrith the net amounts presenred in the financial statements, when there is a le8ally enforceable right to Set olf the recognised amounts and the is an intention to settle on a net bèsis or to realise the a55et and settle the lsability simulneOUSlY.
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 Ac(ountln¢ Okle5 {Contlnuedl 8¢751rfinonclal 0Ssets 8asic financial assets. which snclude debtors and cash and bank balancè5. afe initially measured at transaction price includin8 rransaction costs and ale subsequently carried at amortised cost vsinB the effective interest method unle55 the arrangement constitutes a financin8 transartion. where the trartsaction is measured at the present value ol the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are r)ot amortised. Bt7slcfinon¢lol 11obllltles Basil financial Iiabilitie5. includSn8 creditors and bank loans are in114ally recoBnised at transaction price unless the arran8ement constitutes a financin8 iran5aCtton. whefe the debt insirumeni is mea5urtd at the present value of the future payments discounied at a markei rate of inttrell. Financial liabilitiès classified a5 payable wlthin one year are not amortised. Debt instruments are subsèquenily carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay lor good5 or services that have been acQuid in the ordinary course of operations from suppliers. Amounts payable are classified current liabilities if payment is due within one year or less. 11 not, they are presented as non-cufrent liabilities. Trade creditors are feco8nised initially at transaction price and svbsequently measured at amortised co# using thè effetti¥e interest method. Derecoqnltlon olllnonclal Ilobllltles Financial liabilities are dere¢o8nised when the ¢harit5 contraciual obl¢ytions expire or are discharged or ¢ancelled. 1.10 Empl¢ryee benefits The cost of any unused holiday entrtlement is reco8nised in the pèriod in whlch the employee's servi£•s are received. Termination benefits arè feco8nised immediatety as an expense when th• charity is demonstrably cornrnitted to terminate the employment of an employee or to providt termination benefits. Crltlcal accountlni estlmates and Judgèments In the application of the tharity's èccounting poli¢its, the trustees are required to make judgements, estimate5 and assurnptions about the carrying amount ol assets and liabilities that afe not readily apparent from other Sources. The esrim3te5 and associated assumptions are based on historical experience and other factors thai a considered to be relevant. Actual result5 may differ from these estimates. The esrimates and underlying assumptions are reviewed on an on8oin8 basis. Revisions to accovnting estimates ère re£o8nised in the period in which ihe estimate is revised where the revis*on affects only that period. or in the period of the revision and future periods where ihe revision affects both current and fuluie periods.
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donatlons and le¥acles unrestr1cd Restricted lunds lunds Tt)tsl Unre5tritted lunds Restritted funds Total 2024 2014 2024 2023 2023 2023 Donations and gifts Grants receivable Gift aid reclaimed 527,270 3,226 114.100 196,380 723.650 3.226 142,697 496,547 1.000 107.076 224.970 340 29.699 721.517 1.340 136,775 28.597 644.596 224,977 869.573 604.623 255,1)09 859,632 Income from In¥estm•nts Unre5trlcted funds 2024 Unrtstrlded funds 2023 Interest recelvable 5,757 2.251 Other Income Unresirl¢ted fund5 2024 Unrestricted funds 2023 Rental and oiher Income 26,944 20.569 10-
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 EMpend5ture on ralsln8 fvnds Unfestdcd Restrlcted fvNIs fvnds 2024 2024 Total Unrestricted funds 2023 Restricted funds 2023 Totjl 2024 2023 Fundralslni and publl¢lty Stè8in8 fundraisin8 events Staff costs DeprlatIOn and impairment Support costs 6.182 297,378 6.182 297,378 4.29S 285,785 4,295 285.785 101,655 312.258 101,655 450.436 101,2E9 335,492 101.219 513,181 138,178 177,689 717.473 138.178 855.651 726.791 177,689 904,4BO N•t mo¥emeni In funds 2024 2013 The net movement in funds is stated after charein8llcrèdilingl.. Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed as5etS 101.6S5 101,219 Trustees None ol the trustees lor any persons connected with them) receNed any remuneration or benefits from the charity durinB the year. Employe•s The average monthly number of employees durin8 the yeaf was.. 2024 Number 2023 Nufflber 12 15 Ernployment cost5 2024 IOZ3 Wages and Salaries Social security cos 279.034 18,344 269,136 16,649 297.378 285,785 There were no employees whose annual remuneration was more than £60.CXI. 11
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 TaXaOn The charity 15 exempt Irom taxation on rts a(tiviiies because all its income is applied for charitable purposes. 11 Tanglblè fixtd assets Frn•hold knnd FltUr* &Mwlc Group & •nd bulldln qUIonI PA Totsl Q¥st At I january 2024 Addition5 Oisposals 2.036,665 162,064 5.513 18.0561 24,345 6,541 19.5S51 2,223,074 12,054 137,1951 119,5841 At 31 Decembei 2024 2.017.081 159,521 21,331 2,197,933 Dtpretlatlon and Impalrment At l January 2024 DeprlatIOn charged in thè year Ellminated in respect of disposals 226.049 60.513 I).)? 38,438 18,0561 21,676 2.704 19,5551 347,732 101,655 117,6111 At 31 December 2024 286.562 130,389 14,825 431,776 C•rryln8 •ffl¢wnt At 310ecember 2024 1.730.519 29,132 6,506 1,766,157 At 310ecember 2023 1,810.616 62,057 2,670 1,875,343 Debtors 2014 2023 Amounts falllni due wlthln onè year: Other debtors Preptyments and accru income 6.031 23.419 29,401 17.596 29,450 46.997 12-
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMEMfs ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 IJ Loans and overdrafts 2024 2023 Bank loans 1,041,063 1,112,259 Payable within one year Poyable after one year 132,315 908,748 132,315 979,944 14 Credltors.. amounts fallln¢ due wlthln one yéar 2024 2023 Notes Bank loan5 Other taxation and social security Tratle creditors Other creditors Accruals and deferred income 13 132,315 120,3111 8,624 5,799 223 132,315 122,6011 41,037 22,251 7,151 126,650 180,153 Is Credltors: arnounts falllnl due after mor• than one ye•r 2024 2023 Notes 8ank loans 908.748 979,944 16 Restrlcted funds The restricted funds of the charity comwise the unexpended balances of donation5 and grants held on riux subject to specific contlitions by donors as to how they may be used. At l January 2024 In¢oml sources Resources expended Trnnsfers Al 31 Decèmber 2024 87.551 224.977 1138.1781 153,7871 120,563 Previou5 year. At l January 2023 IoMI Resour expended Transfer5 At 31 December 2023 55.561 255.009 1177.6891 145,3301 87,551 13-
HOPE CHURCH IPSWICH NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 17 Unreslrl¢tsd funds The unrestritted funds of the charity compfi5e the unexpended balance5 of donations and grants which are not subject to specific conditions by donors and graniors as to how ihey may be used. These include designated funds which have been set aside out ol unrestricted funds by the tiustees lor specific purposes. At l January 2024 In¢oml Resources *xpend Trnnsfeys At 31 December 2024 resource5 General funds 833.216 677.297 1717.4731 53,787 846,827 Prevlous year,. At l J•nuary 2023 In¢omin8 resources Aesources expended Trnn5fers At 31 Dtcèmber 2023 General funds 887.234 627.443 1726.7911 45.330 833,216 Analysls of nti assèts betweèn funds Unrestrlded fvnd5 2024 Re5trltted funds 2024 Total 2024 At 31 Derernbef 2024: Tan8ible assets 1.645,594 109.981 1908.7481 120,563 1,766.157 109.981 1908,7481 Lon8 term liabilities 846,827 120,563 967.390 Unrestrlrted funds 1023 Restricted funds 2023 Totsl 2023 At 31 December 2023: Tan8ible assets Current assetsllliabilitiesl Long terrn liabilities 1.787.792 25.368 1979,9441 87,551 1,875.343 2S.368 1979,9441 833,216 87,551 920.767 19 Related party transartion5 There were no éisclosable related party rransattions during the year12023- none). 14-