HOPE CORNER (a company limited by guarantee) OPERATING AS HOPE CORNER CHURCH HOPE CORNER SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 Company number 7386305 Charlty number 1138720
HOPE CORNER ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 INDEX Administrative information Trustees, and Directors, annual report Independent examiner's report Statement of financial activities Balance sheet Statement of cash flows 10 Notes to the financial statements 11 19
HOPE CORNER ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 312025 DIRECTORS Rev'd Mark B J Finch JP Mr John C Cavanagh Mr Jason K Worrall Mrs Pauline E Rushworth Mr Mathew B M Finch Mr John O Ilupeju COMPANY SECRETARY Mr Paul John Rushworth PRINCIPAL STAFF Rev'd Mark B J Finch JP Senior Minister REGISTERED OFFICE 70 Clifton Road, Runcorn WA7 4TD PRINCIPAL PLACE OF BUSINESS 70 Clifton Road Runcorn WA7 4TD INDEPENDENT EXAMINER & ACCOUNTANTS Stacy Mason FCCA HGA Accountants & Financial Consultants Ltd Ua Chittenden Horley - Chartered Accountants Hyde Park House Cartwright Street, Hyde SK14 4EH
HOPE CORNER ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 312025 INTRODUCTION The trustees present their annual report together with the financial statements of Hope Corner for the year ended March 31 2025 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS102) (effective 1 January 2019), referred to as the Charities SORP (FRS 102) (second edition - October 2019). OUR PURPOSES AND ACTIVITIES Objects The objects of the charity are for the benefit of the public particularly in the areas of Christian life and general Education. Specifically, this includes; Advancing the Christian Faith in accordance with the Statement of faith of the Assemblies of God The relief of sickness and hardship and promotion of good health. Advancing education particularly supporting those with special needs. We use the resources available to the charity for the good of people regardless of their age, background, race, religion or gender. Our Devotion Together in the Christian faith, inspires us to support the relevant needs of those accessing Hope Corner and those of the wider community. We support and encourage both directly and indirectly practitioners helping the wider community both in Britain and overseas particularly in the areas of Church development, education and the relief of poverty. The Trustees oversee a wide range of activities directed to fulfilling these objects. Hope Corner Church promotes all three of the charity's objects across a range of activities. Hope Corner School is focused exclusively on the advancement of education. The charity principally operates from its purpose-built freehold premises in Clifton Road, Runcorn. The charity does not generally charge its beneficiaries for the services they receive and therefore the Trustees are confident that the charity is able to demonstrate its adherence to the Charity Commission's guidance, with regard to public benefit. Together with the provision of inspiring Church services, we run a special educational needs school, children's work, youth work, financial management training, oversees support to Uganda and India. The Charity aims to provide programmes emphasising a holistic provision for beneficiaries that fosters; Spiritual, Physical, Mental and Social wellbeing. We have been awarded national recognition for our work. OUR CHARTER We provide an inclusive service to our community by: 1) Serving and respecting all people regardless of their gender, marital status, race, ethnic origin, religion, age, sexual orientation or physical and mental capability. 2) Acknowledging the freedom of people of all faiths or none both to hold and to express their beliefs and convictions respectfully and freely, within the limits of the UK law. 3) Never imposing our Christian faith or belief on others but allowing them to view and inquire about what it means to be in relationship to Christ Jesus. 4) Developing partnerships with other churches, voluntary groups, statutory agencies and local government wherever appropriate in order to create an effective, integrated service for our clients avoiding unnecessary duplication of resources. 5) Providing and publicising regular consultation and reporting forums to client groups and the wider community regarding the effective development and delivery of our work and our responsiveness to their actual needs.
HOPE CORNER ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 312025 ACTIVITIES We value all individuals in a way that is consistent with our distinctive Christian ethos by: 1) Creating an environment where clients, volunteers and employees are encouraged and enabled to realise their potential. 2) Assisting ourclients, volunteers, and employees to take responsibility for their own learning and development, both through formal and informal training opportunities and ongoing assessment. 3) Developing an organisational culture in which individuals learn from any mistakes made and where excellence and innovation ar e encouraged and rewarded. 4) Promoting the value of a balanced, holistic lifestyle as part of everyone's overall personal development. 5) Abiding by the requirements of employment law in the UK and implementing best employment practices and procedures designed to maintain our distinctive ethos and values. We continually strive to develop a professional approach to management, practice, and funding by: 1) Implementing a management structure, which fosters and encourages participation by staff at all levels to facilitate the fulfilment of the project's goals and visions. 2) Setting and reviewing measurable and timed outcomes annually and regularly to evaluate and monitor our management structure and output, recognising the need for ongoing organisational flexibility, development and good stewardship of resources. 3) Doing all we can to ensure that we are not over-dependent on any one source of funding. 4) Implementing best practice procedures in terms of Health and Safety and Safeguarding to protect our staff, volunteers and clients. 5) Handling our funding in a transparent and accountable way and to give relevant people from outside our organisation reasonable access to our accounts. Psalm 60 verse 12 in the Bible says 'With God's help, we will do great things,. This perfectly describes our experience here at Hope Corner over the last year. We are grateful for the continued devotion of our staff and volunteers as well as the sustaining power of our Lord and Saviour. We have faced the same challenges as most small charities trying to accomplish extraordinary things with the resources available, yet in these circumstances our 'edge' has been the amazing grace of God. THIS YEAR This has been an exciting year in so many ways. The Church has seen growth with not only local people from Halton but also those from various parts of the world. Increasingly there is a rich diversity of members who are able to offer skills to strengthen even further our ability to fulfil Hope Corner's mission and aims. The challenges within the community of Halton remain the same but we can truthfully say our church is well equipped to make a major difference. The 'difference' can also be seen in the development of the Youth work, Children's work and our School. Young people have more opportunity to develop their potential including leadership development. We are privileged to have so many volunteers in the children's work who give freely of their time. There is on going training in order to support the effectiveness of all projects. Our school staff continue to make incredible advances supporting the 'Special Educational Needs, young people in their care. This kind of education is highly specialised and even with all the challenges, their are some exciting developments ahead for Hope Corner School particularly in the next two years. Oversees we continue to support others who are doing similar work to ourselves in Uganda and India. Some of our people make regular visits to these projects which are helping local children and young people to be educated and develop a livelihood to support themselves. We deeply appreciate all the gifts and financial support the whole charity has received over the last year. As our work has grown so has the greater need for finance. It is nothing short of a miracle that we are able to say we are continuing to meet those needs! We can say this because we trust the bible when it says 'God will supply everything you need'(Philippians 4.'19).
HOPE CORNER ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 312025 Personal Note Our Chair writres "I want to offer my personal thanks my new Associate Minister who has be a wonderful support in her first year. Also to our Church Oversight (Elders and Trustees) and Business Manager who have supported tirelessly in guiding this charity over the last year. Their wisdom and spiritual insight is outstanding. Most of all I give thanks to our Lord Jesus Christ who makes 'all things possible,. After all, Hope Corner is HIS Work. Mark B J Finch (Senior Minister) for the Directors/Trustees of Hope Corner Financial Review For any charity of our size, this is an area that always brings great challenges. We are grateful for the way all the community family of Hope Comer give sacrificially on a regular basis. Besides those fees paid to our school, the giving of God's people is the backbone of our financial base. Risk management summary We acknowledge the following risks that Hope Corner faces. Building a sufficient level of reserves so as to be able to act strategically. Throughout 202412025 and beyond we have continued to improve our financial systems. Principal funding sources and going concern. The charity presently relies on two major funding sources The church membership for their voluntary income Local authority income to support the Hope Corner School - this is earned income computed on a per capita basis. Reserves Our free reserves (unrestricted funds not invested in fixed assets, otherwise designated or required to meet secured loans due in more than one year) stood at 251 k at the year end. We are in the process of determining what the target level should be for free reserves going forward, but we remain strongly committed to ensuring that we are able to meet our loan repayments as they fall due and to have sufficient funds available to maintain our buildings to an approriate standard, as we continue to work for the Kingdom of God. FUTURE PLANS We are heavily investing in staff and volunteer training in order to develop their skills as well asreaching all required profession standards. We are making sure that potential leaders are ready to take on the challenges of leading this charity into future years. We are pleased to have young people who are ready to take on various role to fulfil our vision. STRUCTURE GOVERNANCE AND MANAGEMENT Governing document The Charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated September 20, 2010. It is registered as a charity with the Charity Commission. Members of the company The initial members of the company were the five subscribers to the Memorandum. Four of these five remain in membership. There are various qualification requirements to be met before any person is admitted to membership. Furthermore, the constitution grants the Senior Minister and the majority of existing members with discretion as to whether or not to nominate persons for
HOPE CORNER ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 312025 membership. Provided qualification requirements are met and both the Senior Minister and the majority of existing members have invited candidate members to join the company, the directors (Trustees) have no discretion to refuse admittance to membership. Members may resign or may be removed by an Ordinary resolution of all members. There are currently 50 members of the company. £1 in the event of the charity being wound up. Appointment of Directors and Trustees The directors of the company (who are Trustees of the Charity) are appointed as follows (a) on the nomination of the Senior Minister, or (b) By the members in General Meeting Directors appointed under (a) above do not retire by rotation Directors appointed under (b) only serve until the following annual general meeting The minimum number of directors is three and there is presently no maximum number. Trustee recruitment, induction and training There has only been one Trustee appointed following the initial appointments on incorporation. The Senior Minister consults with the broader membership when considering nominations to the Board. It is the intention to recruit additional Trustees in the next three years. Suitable induction and training will be devised for such recruits. Related parties and management of conflict of interest The Trustees are aware of the Charity Commission guidance relating to management of conflict of interest issues. As disclosed in the notes to the accounts there are a number of related party transactions in connection with the Senior Minister. The charity has established policies to manage conflict of interest issues and these are reviewed periodically.
HOPE CORNER ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 312025 TRUSTEES, RESPOSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees (who are also directors of the Charity for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS 102) (second edition - October 2019); make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. SMALL COMPANY PROVISIONS AND APPROVAL This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. Approved by the Board of Trustees and signed on its behalf by: Mark Finch Chair of Trustees Date: 1711212025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE CORNER FOR THE YEAR ENDED MARCH 312025 I report to the charity trustees on my examination of the accounts of the company for the year ended March 31 2025 which are set out on pages 8 to 19. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales (ICAEW) which is one of the listed bodies. I have completed my examination. I confirm that no 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 company as required by section 386 of the 2006 Act; or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. 3 MaAw• For and on behalf of: HGA Accountants & Financial Consultants Ltd t/a Chittenden Horley Chartered Accountants Hyde Park House, Cartwright Street, SK14 4EH Date: 17/12/25
HOPE CORNER STATEMENT OF FINANCIAL ACTIVITIES (including the income and expenditure account) FOR THE YEAR ENDED MARCH 312025 Restricte Notes Unrestricted Total Total Funds Funds 2025 2024 INCOME Donations 99,476 1,370 100,846 68,554 Charitable activities 485,673 485,673 162,569 Other trading income 13,103 13,103 14,825 Other income - surplus on disposal pf property TOTAL INCOME 598,252 1,370 599,622 245,948 EXPENDITURE Costs of raising funds 10,035 10,035 8,632 Expenditure on charitable activities 431,144 1,370 432,514 255, 773 TOTAL EXPENDITURE 441,179 1,370 442,549 264,405 NET INCOMEI(EXPENDITURE) BEFORE TRANSFERS 157,073 157,073 (18,457) Transfers between funds Other recognised gains NET MOVEMENT IN FUNDS 157,073 157,073 (18,457) TOTAL FUNDS BROUGHT FORWARD 14 581,779 581779 600,236 TOTAL FUNDS CARRIED FORWARD 14 738,852 738,852 581,779 The notes on pages11 to 19 form part of these financial statements.
HOPE CORNER BALANCE SHEEf AS AT MARCH 312025 Notes 2025 2025 2024 2024 FIXED ASSETS Tangible Assets 10 859,777 876,213 CURRENT ASSETS Assets held for resale 11 146,362 1,977 146,627 294,966 146,362 2,531 Debtors 11 Cash at Bank and in Hand 8,280 157,173 CREDITORS Amounts falling due in one year 12 44,241 45,422 NET CURRENT ASSETS 250,725 111,751 1,110,502 987,964 CREDITORS Amounts falling due in more than one year 13 371,650 406, 185 NET ASSETS 738,852 581,779 FUNDS Unrestricted General fund 14 672,313 66,539 515,240 66,539 Revaluation reserve 738,852 581,779 Restricted 14 TOTAL FUNDS 738,852 581,779 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. For the year ending March 312025, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and no notice has been deposited under section 476 requiring the company to obtain an audit of its accounts for the year in question. Directors, responsibilities The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The notes on pages 11 to 19 form part of these financial statements. Approved by the Board and authorised for issue on 9th December 2025 And signed on their behalf by: Mark Finch - Director Company registration number 7386305
HOPE CORNER STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 312025 2025 2024 notes Cash used in operating activities 16 179,801 10,567 Cashflows from investing activities Purchase of tangible fixed assets Cash provided byl(used in) investing activities (6,919) (6,919) (606) (606) Cashflows from financing activities Proceeds from new borrowings - secured loan Repayment of borrowing - finance lease Repayment of borrowing - mortgage creditor Repayments of borrowing - unsecured loans Cash used in financing activities (34,535) (22,719) (34,535) (22, 719) Increasel(decrease) in cash & cash equivalents in the year 138,347 (12, 758) Cash and cash equivalents brought forward 8,280 21,038 Cash and cash equivalents carried forward 146,627 8,280 Cash and cash equivalents consist of: Cash at bank and in hand 146,627 8,280 146,627 8,280 10
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 1 ACCOUNTING POLICIES Basis of preparation The financial statements have been prepared: under the historic cost convention; in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective January 1 2019 (second edition October 2019); FRS102; and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS102. The accounts are prepared in £ sterling, which is the functional currency. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The principal accounting estimate that affects these accounts relates to: The estimated useful lives of fixed assets Income recognition All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following applies to particular types of income: Grants, whether of a capital or revenue nature, are recognised when the Charity has entitlement to the funds, any performance conditions have been met and it is probable that the income will be received. Donations from individuals and other bodies (not being of the nature of a grant) are recognised when receivable. Where a donation is contingent upon the performan by the charity of a significant obligation the donation is not recognised until the obligation has been performed. Donated facilities are recognised on receipt at the value that the charity would be willing to pay to obtain facilities of equivalent economic benefit on the open market, a corresponding amount is then recognised as expenditure in the period of the receipt. Earned income is measured at the fair value of the consideration received or receivable for services and goods supplied, net of discounts. Deferred income Income is only deferred and included in creditors when: The income relates to a future accounting period A sales invoice has been raised ahead of the work being carried out and there is no contractual entitlement to the income until the work has been done Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds including those associated with fundraising activities, managing investments and commercial trading by the subsidiary company. Charitable activities costs of undertaking the work of charity. The Charity is not registered for VAT and cannot recover any input tax charged. Costs are stated inclusive of VAT were charged. Allocation of support costs Support costs are those functions which assist the work of the Charity either by supporting the delivery of charitable activities or by supporting the generation of funds. They include back office functions, staff costs and professional fees. The basis of allocations is set out in note 5. 11
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 1 ACCOUNTING POLICIES (continued) Tangible fixed assets and depreciation Individual fixed assets costing more than £250 are capitalised at cost and are depreciated over their estimated useful lives (after deducting any residual value) on a straight-line basis as set out below. Depreciation rates are as follows: Freehold buildings- Over 50 years Leasehold buildings - Over 50 years or the period of the lease if shorter Property fixtures and fittings- Over 20 years Furniture - Over 10-15 years Kitchen equipment 7 years Computer and IT equipment- 4 years Debtors Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount. Financial instruments The Charity has only basic financial instruments which are initially recorded at cost, and with the exception of investments (as set out above) subsequently measured at their settlement value. 12
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 2025 2024 Unrestricted Restricted Total Unrestricted Restricted Total 2 DONATIONS Freewill offerings Gift Aid 54,392 14,156 30,928 54,392 14,156 30,928 51, 140 12,871 3,235 51,140 12,871 3,235 Other donations Grants Restricted donations 1,370 1,370 1,370 100,846 1,308 1,308 1,308 68,554 99,476 67,246 3 INCOME FROM CHARITABLE ACTIVITIES Church 2,285 483,388 485,673 2,285 483,388 485,673 404 404 School 162,165 162,569 162,165 162,569 Income is analysed as follows: Church Grants for Souper Heroes Other income 2,285 2,285 2,285 2,285 404 404 404 404 School Local authority fees 483,388 483,388 483,388 483,388 162,165 162,165 162,165 162,165 4 OTHER TRADING INCOME Catering income Room hire 1,573 11,530 13,103 1,573 11,530 13,103 3,460 11,365 14,825 3,460 11,365 14,825 13
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 2025 2024 5 COSTS OF RAISING FUNDS nrestricted Restricted Total Unrestricted Restricted Total Direct costs 4,247 4,247 5,788 10,035 3,825 4,807 8,632 3,825 4,807 8,632 Support costs 5,788 10,035 6 CHARITABLE EXPENDITURE Church 154,422 276,722 431,144 1,370 155,792 276,722 432,514 97,869 156,596 254,465 1,308 99,177 156,596 255, 773 School 1,370 1,308 Expenditure is analysed as follows: Direct Direct Support Costs Costs Salaries Total 2024125 Church 14,199 20,270 34,469 51,665 200,064 251,729 89,928 56,388 146,316 155,792 276,722 432,514 School 2023124 Church 1,025 36,625 61,527 99,177 156,596 255, 773 School 12,210 13,235 101,769 138,394 42,617 104,144 7 SUPPORT & GOVERNANCE COSTS Total Fundraising Church School 2025 2024125 Property costs Payroll costs Administration costs 40,218 5,780 3,699 10,054 20,230 12,945 6,406 5,859 50,272 28,900 18,493 23,355 29,296 1,788 152,104 2,890 1,849 1,049 Depreciationldisposal gains Finance costs 15,900 23,437 Governance costs 894 894 5,788 89,928 56,388 2023124 Propety costs Payroll costs Administration costs 10,808 2,702 16,711 9,597 6,406 6,319 882 13,510 23,873 13,710 24,497 31,597 1,764 108,951 2,387 1,371 1,049 4,775 2,742 17,042 25,278 Depreciation/disposal gains Finance costs Governance costs 882 4,807 61,527 42,617 Support costs are allocated on the following basis: Area Basis Property costs Administrative costs Proportional use of property Allocation based on staff allocation Depreciation and finance costs Allocation of depreciated or financed assets 14
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 8 STAFF INFORMATION 2025 2024 a Employees Salaries and wages Employer's pension contributions Employer's Nl contributions 259,894 152, 104 5,168 15,567 280,629 3,265 6,898 162,267 No employees earned more than £60,000 p.a. in either year. b Key management personnel The key management of the charity comprise the trustees and senior staff (as set out on page1). The trustees do not receive any remuneration for their services as Trustees. The Senior Minister, Mark Finch also serves as an employee of the charity and is one of the two key management personnel. The total employee benefits, including employer pension and Employers, Nl contributions, of the employed key management personnel were as follows: 91,149 49,405 c Average staff numbers The average number of employees was as follows:_ Average number Average number 16 9 NET INCOMEI(EXPENDITURE) BEFORE TRANSFERS (for the Group) This is stated after chargingl(crediting): Independent examiners & accountants fees: Examination 717 717 Accountancy fees Depreciation of fixed assets Trustees remuneration 795 795 23,355 24,497 Number Number Trustees claiming expenses in relation to Trustee duties 15
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 10 TANGIBLE FIXED ASSETS Freehold Leasehold Instruments Land & Land & Furniture equipment & fittings & computers vehicles Motor Buildings Buildings Total Cost or valuation As at April 12024 Additions 950,000 15,108 46,238 6,919 16,700 1,028,046 6,919 Disposals As at March 312025 950,000 15,108 53,157 16,700 1,034,965 Depreciation As at April 12024 Charge for the year Eliminated on disposals As at March 312025 96,000 16,000 5,752 1,209 34,049 6,146 16,032 151,833 23,355 112,000 6,961 40,195 16,032 175,188 Net Book Value As at March 312025 838,000 8,147 12,962 668 859,777 As at March 312024 854,000 9,356 12, 189 668 876,213 The freehold and leasehold propety was valued at August 1 2018 by Anthony Chadwick MRICS of Hardie Brack Chartered Surveyors. 11 ASSETS HELD FOR RESALE 2025 2024 Leasehold property 146,362 146,362 The charity has taken the decision to dispose of its leasehold propety at Church St, Runcorn. The value above is the Trustees, best estimate of the net sale proceeds after all expenses. 11 DEBTORS Trade debtors Income receivable 1,925 52 2,583 (52) 2,531 Sundry debtors and prepayments 1,977 12 CREDITORS falling due within one year Trade creditors 4,708 5,363 3,096 1,346 5,475 6,657 Other taxes and social security Accruals 2, 775 Other creditors 787 Finance lease creditor due in one year Mortgage repayable in one year Unsecured loans repayable in one year 29,728 29, 728 44,241 45,422 13 CREDITORS falling due in more than one year Mortgage payable within 2 - 5 years Mortgage repayable in more than 5 years 119,456 252,194 371,650 119,456 286, 729 406, 185 16
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 14 STATEMENT OF FUNDS 2023124 bff and CM 2024125 3110312024 0110412023 Income Expendlture transfers 0110412024 Income Expenditure transfers 3110312025 Unrestricted funds: General 533,697 66,539 244,640 (263,097) 515,240 66,539 59 52 (441,17 672,313 66.539 ixed a t revaluation r Total unrestrlcted funds 600,236 244,640 (263,097) 581,779 598,252 (441,179) 738,852 Restrlcted Funds: nation rtgage ymen 1.308 ,308) as Souper Heroes Total restrlcted funds 1,308 (1,308) 1,370 (1,370) 600,236 245,948 (264,405) 581,779 599.622 (442.549) 738,852 17
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS Company fund balances at March 312025 are represented by: Unrestricted Restricted Total Funds Funds Tangible fixed assets Net current assets 859,777 250,725 (371,650) 738,852 859,777 250,725 (371,650) 738,852 Creditors due in more than one year Free Reserves: Net current assets 250,725 Company fund balances at March 312024 are represented by: Unrestricted Restricted Total Funds Funds Tangible fixed assets Net current assets 876,213 111,751 (406, 185) 581, 779 876,213 111,751 (406, 185) 581, 779 Creditors due in more than one year 16 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASHFLOW FROM OPERATING ACTIVITIES 2025 2024 Net incomel(expenditure) Add back depreciation Deduct Gain on disposal of fixed assets Decrease/(increase) in debtors Increase/(decrease) in creditors (Exc. Loans)) Net cash generated froml(used in) operating activities 157,073 23,355 (18,457) 24,497 554 (996) 5, 523 10,567 (1,181) 179,801 17 NET MOVEMENT IN DEBT Loans repaid loan received At 31103125 At 3113124 cashflows Cash and cash equivalents Cash at bank and in hand 8,280 172,882 (34,535) 146,627 Debt Mortgage loans (435,913) (435,913) 34,535 (401,378) (401,378) 34,535 Cash and cash equivalents net of debt (427, 633) (254,751) 18
HOPE CORNER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312025 18 TAXATION The company is a registered charity and is entitled to claim annual exemption from UK corporation tax under sections 19 CAPITAL COMMITMENTS The company had no capital commitments at the year end (2022- none) 20 RELATED PARTY TRANSACTIONS The Chair of Trustees (Revd. Mark Finch) is also the Senior Minister of the Church and is remunerated in this capacity (but not for acting as Trustee). The charity's constitution permits this arrangement. Mr Finch is also closely related to other employees of the charity. During the year his employment benefits were £35,478 (2024 - £35,478). Mr Matthew Finch, a trustee, is also the Deputy Head of the School, and is remunerated in this capacity but not for acting as a trustee. The Charity's constitution permits this. His wife is employed by the charity and he is the son of the Chair. His employment benefits were £24,647 (2024- £24,647). His wife received employment benefits of £ 11,803 (2024 - £11,803). 19