2025-12-31-accounts - Hopeworks UK (Bedford)

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Docusign Envelope ID". BAF58A8F-7777-8998-823A-05C4FE262F22 Hope Works UK (Bedford) (Formerly Klng'g Arms Project) TRUSTEES. REPORT & FINANCIAL STATEMENTS For the year ending 31 December 2025 hopeworksuk.org

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

CONTENTS	PAGE
CHARITY AND COMPANY INFORMATION	3
TRUSTEES’ REPORT	4
INDEPENDENT AUDITOR’S REPORT	22
STATEMENT OF FINANCIAL ACTIVITIES	26
BALANCE SHEET	27
STATEMENT OF CASH FLOWS	28
NOTES TO THE FINANCIAL STATEMENTS	29

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

CHARITY AND COMPANY INFORMATION

Trustees/Directors	Vanessa Lipski (Chair)	Matthew Burge
	Nigel Taylor	Samantha Roach (resigned Jan 25)
	Sue Frossell	Simon Cook (resigned Nov 25)
	John Cooper (joined Nov 25) Lucy Davis (joined March 26)
Chief Executive	Kirstie Cook
Charity number	1139956
Company number	07433621
Registered office	56 Harpur Street
	Bedford MK40 2QT
Business address	56 Harpur Street
	Bedford MK40 2QT
Website	www.hopeworksuk.org
Statutory Auditor	Moore Kingston Smith LLP
	9 Appold Street
	London
	EC2A 2AP
Solicitor	HCB Park Woodfine LLP
	1 Lurke Street
	Bedford MK40 3TN
Banker	Unity Trust Bank Plc
	Nine Brindley Place
	Birmingham B1 2HB

HopeWorks UK (Bedford)is a charitable company limited by guarantee (Company No. 07433621), formally King’s Arms Project (Bedford) incorporated on 9th November 2010, and registered as a charity on 20th January 2011 (Charity No. 1139956).

The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association. It commenced operating on the 1st March 2011.

Established in 1989, the King’s Arms Project operated as part of the King’s Arms Trust (Bedford), until its formation in 2011.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

TRUSTEES’ REPORT

Introductory Letter from the Chair of Trustees

2025 has been a year of sustained growth and strengthened impact for HopeWorks UK (Bedford) (formerly known as King’s Arms Project (Bedford)), underpinned by increased resilience, deeper partnership working, and greater clarity in our organisational direction. Expansion within our staff team has continued to enhance delivery capacity across all services, enabling a broader reach while maintaining a consistent focus on high-quality, person-centred support for those experiencing vulnerability. Alongside this, increased engagement with local partners, businesses, and stakeholders has supported a more coordinated and effective response to complex needs within the community.

Throughout the year, we have remained committed to our vision of offering “hope for everyone, always,” ensuring this is reflected not only in service provision but also in the way individuals are supported with dignity and care. Organisationally, the transition to HopeWorks has provided clearer articulation of our purpose and strengthened external engagement, while maintaining continuity in delivery. This attention to the individual—whether client, staff member, volunteer, or partner—remains central to our approach and is reflected in both service outcomes and stakeholder feedback.

On behalf of the Board of Trustees, I would like to express our deepest gratitude to everyone involved in this mission. Your faithful giving, selfless service, and enduring belief in what we do ensure that HopeWorks UK (Bedford) can continue to be a place of transformation for those who need it most.

Vanessa Lipski

Chair of Trustees

7/8/2026 Date:

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Introductory Letter from the Chief Executive Officer

This has been another significant and encouraging year for us, one marked not only by growth, but by resilience, deepened partnerships, and a renewed clarity of who we are and where we are going.

Building on our established presence in the town centre, we have seen continued growth in both visibility and engagement. This has led to increased support from local businesses and strengthened relationships across the Bedford community. These partnerships have been invaluable, enabling us to work more collaboratively and provide more joined-up, holistic support to those who need it most.

In what has at times been a challenging year for the town, with heightened negative publicity around street safety, homelessness, and visible hardship, we have remained committed to being a consistent, positive presence. In this context, the compassion and dedication of our supporters have stood out all the more.

Following the success of previous years, we were once again asked to deliver the Winter Night Shelter. With over 120 volunteers involved, it was a remarkable expression of community in action. Together, volunteers, staff, and partners created a safe, warm, and dignified space each night, responding with care and professionalism in the face of increasing need. The scale of support and the spirit in which it was offered has been nothing short of inspiring.

This year has also seen a significant deepening of our partnership work with other agencies. By working more closely together, we have been able to offer more coordinated and effective support, particularly for those facing multiple and complex challenges. This joined-up approach is already making a tangible difference in the lives of the most vulnerable in our town.

Perhaps the most defining moment of the year, however, has been our rebrand to HopeWorks. This change represents more than a new name—it reflects our evolving vision and our desire to communicate more clearly who we are and what we stand for. HopeWorks captures both the heart of our mission and the practical outworking of it: bringing hope that is active, tangible, and transformative in people’s lives. It marks an exciting new chapter as we continue to grow and respond to the needs around us.

At our core, our mission remains unchanged. We exist to bring hope, dignity, and opportunity to those experiencing poverty, isolation, and exclusion. Whether through emergency provision, long-term support, or partnership-led initiatives, we are committed to walking alongside people through their most challenging moments and helping them move toward a more hopeful future.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

To all who have supported us, our volunteers, donors, local businesses, churches, and partners thank you. Your generosity and commitment make this work possible. I am continually grateful for our staff team, who serve with compassion, resilience, and integrity every day.

Together, we move forward with confidence, committed to building hope, strengthening community, and continuing to stand alongside those who need it most.

Kirstie Cook

Chief Executive Officer Date: 7/8/2026

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

About HopeWorks UK (Bedford)

Introduction

The Trustees of HopeWorks UK (Bedford), (referred hereafter as HopeWorks), who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025 which are also prepared to meet the requirements for a director’s 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 the Charities Statement of Recommended Practice (“Charities SORP”) (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; FRS 102) issued in October 2019.

Principle Objectives

The Charity’s objectives for the public benefit are:

To relieve financial hardship, particularly, but not exclusively, among the homeless or those at risk of homelessness. To promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of accommodation and support to achieve and maintain independent living, meaningful occupation, economic independence.
To become contributing members of the community in Bedford and in such other parts of the United Kingdom or the world as the Trustees from time to time may think fit to and to fulfil other such purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Charity.
To advance the Christian faith in accordance with the Evangelical Alliance Statements of Beliefs in Bedford and in other such parts of the United Kingdom or the world as the Trustees may from time to time think fit.

‘Public benefit’ is the legal requirement that all charities must have charitable purposes which benefit the public. The Charities 2011 underlines this requirement. The trustees of the charity have considered the Charity Commission’s guidance on public benefit, and this report seeks to highlight the public benefit provided by HopeWorks (Bedford).

Jay came to HopeWorks as a teenager after being rejected by his family. He experienced homelessness and was temporarily housed before moving into supported accommodation. He found work so he could pay his own way, and over time he stabilised, progressed in his job, began vocational training, and earned a promotion to assistant manager. He also began learning to drive and found grounding through gardening; two major steps in rebuilding his confidence and wellbeing. Where he once struggled with comfort-spending and debt, he now prepares healthy meals, avoids payday loans, and is saving for long-term goals, feeling more stable than ever.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Our Vision

Every person thriving in a place they call home, living a fulfilling life in community.

Our Mission

To tackle homelessness, displacement, and isolation by:

Providing opportunity to thrive and have a home.
Connecting people into meaningful communities.
Demonstrating the love of God.
Advocating for justice.

Hope – We believe there is hope for everyone, always.
Community - We all thrive when we are connected in community.
God is Good - We trust in God and His goodness for everything we do.
Learning & Excellence - By seeking to learn, listen and grow so we are better able to achieve excellence in all that we do.

Strategic Objectives 2021-2026

To Deliver Excellence

Viable and diverse housing
Holistic training and empowerment programmes
An accessible and appropriate operational space(s)
Meaningful involvement of experts by experience to help design and deliver services.

To Value Our People

To develop a growth mindset
To strengthen central office services
To promote wellbeing
To establish a positive leadership culture where ownership, accountability and involvement in decision making is promoted.

To Have Healthy, Robust Finances

To ensure resilience and viability underpin the financial decisions made.
To identify ways to grow, develop and sustain.
To be transparent and accountable
To build and maintain the level of free reserves.

To Have A Positive Impact On Our World

To establish a reputation for strategic thinking and effective influencing of policy at local and national level
Integration of local services and support for vulnerable people
Evidence based social innovation.
Promoting environmentally sustainable practices

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Our Activities

HELP

We offer help to those who are in crisis and at risk of immediate homelessness. We believe that it is a Biblical principle and a humane response to feed the hungry, clothe the naked and welcome the stranger. We do this principally through our winter night shelter, outreach services on the streets of Bedford and our helpline for refugees and asylum seekers.

Street Outreach

The Outreach team has always been one who through faith and persistence, bring hope to some of the most marginalised and forgotten clients in our community. The team works Monday to Friday with a diverse client group. Due to the proximity of our office to the town centre, combined with our support to rough sleepers over three decades and recent winter night shelters, we are seeing an increase of new clients coming to our office for support.

When our emergency winter night shelter is operational- the past three years this has been from December to March, the outreach team provide in reach support to those staying here. They liaise with both the local authority and a partner agency who is also working with rough sleepers in Bedford.

We are fortunate to have expertise within the wider HopeWorks team on providing immigration support, employment support and trauma recovery coaching where appropriate.

Since moving into our town centre offices, the team has been able to expand their services and are now able to offer a warm, safe space to come for support. Clients have somewhere to shower, do laundry, collect essential items, and have access to food.

Winter Night Shelter

Following the huge success of the Winter Night Shelter we were approached by the council again to reopen for a third Winter beginning in December 2025. We were able to employ shift leaders and a volunteer coordinator and with the help of 120 volunteers and meal makers they supported all our guests in a place of warmth and safety for the winter months. This project was largely funded by Bedford Borough Council but also supported by the generosity of the public across Bedford. Without whom we could not have provided the service.

HOMES

Housing is an issue of social justice and equality. The report by the independent Commission on Housing, Church and Community lays out a positive vision for housing, centred on five core values, which are rooted in the Christian story but resonate with us all: good housing should be sustainable, safe, stable, sociable, and satisfying. We aim to provide accommodation that fulfils these five criteria for individuals and families from the UK as well as refugees and asylum seekers. Across our houses we have provided accommodation for people in a variety of different situations.

Move on Housing

Supported Accommodation.

HopeWorks Supported Accommodation service offers medium-term accommodation, a high level of autonomy and independence, and tenancy support for a wide variety of people who have experienced homelessness and are moving towards independent living. We tailor support towards each resident’s needs and aspirations, offering a holistic approach, ensuring residents have the best opportunity to develop and achieve their aims in an encouraging, progressive environment. We work with people to see them move into

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

their own independent accommodation, gain employment and to help those who have restricted eligibility to obtain settled status or work-related benefits: a life-changing outcome for all, bringing them out of destitution.

One of the unique features of this service is how we make our housing affordable for residents who gain employment. We subsidise workers by capping their rent charge, seeing this as being an important aspect of transitioning into employment whilst maintaining other support residents may need. In 2025, around a third of our residents engaged with paid employment, which is a significant number in the context of our client group. Alongside the opening of a new property this year in an out-of-town location, we have seen considerable progress in the lives of many of our residents.

Resettlement And Integration Support

Specialist support for vulnerable families.

We provide holistic casework support to over 90 families, predominantly Syrian and Afghan, resettled by the UNHCR / UK government in Bedford and Central Bedfordshire. The support includes preparing accommodation for their arrival in the UK, meeting them at the airport, then on-going, tailor-made support from a dedicated caseworker. Across both Central Bedfordshire and Bedford Borough, the support provided assists families to adjust to life in this country, learn the language and navigate education, employment, and medical needs. This bespoke service is delivered by a highly experienced and growing team consisting of people with lived experience of displacement, those who speak the languages of the refugee families and OISC qualified practitioners. We had a tender extended in 2025 to support an additional 30 families placed in Central Bedfordshire as part of the wider strategy to move families out of hotels. This was a resounding endorsement of the quality of support and advice offered by this team.

OPPORTUNITIES

ESOL

Our ESOL department provides opportunities for individuals to study, learn and practise the English language to increase their proficiency in the four domains of language acquisition: speaking, listening, reading and writing. We serve families resettled to the UK as well as providing opportunities for speakers of English as a second language from the wider community.

Our core activities in 2025 comprised of:

Initial Assessments
English Language Classes & Creche
English Language Club & Creche
Community Threads (as part of community integration work)

Initial Assessments

Throughout 2025 newly resettled families were visited by one of our ESOL tutors in their homes for initial assessments of English language levels. Those students assessed as E0-E3 were then subsequently invited to join one of our English language classes at the appropriate level. Under resettlement ESOL funding individuals are entitled to ESOL provision for 3 years (resettled from Afghanistan) or 5 years (resettled from elsewhere in the world) or until they are assessed as L1 in all four domains of reading, writing, speaking and listening.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

English Language Classes

In 2025 we expanded our English classes to accommodate new service users resettled on the contracts we run. We have been successfully running pre-entry classes (E0), beginners’ classes (E1), elementary classes (E2) and pre-intermediate (E3) classes. For those unable to access English Language group classes outside of their homes due to health needs, we have provided 1:1 in-home classes or online options where feasible. Recruitment of staff for this has posed a challenge due to the amount of driving required.

To reduce barriers to accessing education, we run a creche service for children aged 6 months-school aged onsite, this enables parents to access their classes whilst also supporting resettled children in adjusting to the English language and culture in the UK. Our creche team expanded throughout 2025 with team members undergoing training in partnership with play therapists in trauma-informed childcare practices. We invested in resources to support the development of our creche in accordance with best practices in the sector, with the team increasingly focussing on supporting children to develop the necessary skills and language to integrate into pre-school and school settings within the UK. During 2025 we prepared for OFSTED registration to take place in early 2026.

Many of our clients, prior to being resettled in the UK have never had the opportunity to access education, often being accompanied by a male relative any time they leave the home. We therefore provide transport to all our classes to enable clients to overcome the barrier of access where accessing private or public transport is not possible.

As families are resettled into the UK in a staggered way, we regularly receive new arrivals into our classes part way through the academic year. To support those learners who arrive once a course has already started in Autumn 2025, we launched booster and catch-up classes. Students who arrive part way through a course have been provided with catch-up classes to enable them to cover units of the curriculum which they have missed which has proven to be a great success. Booster classes have provided additional support to preentry learners who are illiterate in their first language, with a focus on skills such as using a pen and pencil and provided an opportunity for further repetition of material covered in our standard pre-entry classes.

English Language Club

The English language club is a free-to-access mixed-level community setting for individuals to learn and practise the English language, whilst focussing on topics which support integration and independence in life in the UK. We continued to work with external organisations having several guest speakers come to the English language club throughout the year. In addition to our guest speakers the English language club went on several trips to explore the local area and learn about life in the UK including a guided tour of the town centre & how to catch buses from the bus station, and the Higgins Museum.

Throughout 2025 our amazing team of volunteer table facilitators and creche assistants worked alongside our English Club Tutor and Early Years Childcare Lead & assistants to provide trauma-informed support and education to our attendees. Many of our volunteers/team have lived experience of displacement and acquiring English as a second language themselves, with some having been previous attendees of the club who have then progressed in linguistic ability to the level where they are able to support others.

Community Threads

We ran a community integration initiative in the form of a sewing club. Women attending this club weekly are provided the opportunity to improve their sewing skills or utilise their existing abilities and skills to teach others in the community. This club provided the opportunity for one resettled individual to utilise their professional skills as a tailor to train and support others in their sewing skills.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Pathways Courses and Opportunity

This area of HopeWorks is evolving into a strong learning community, providing a place for those experiencing multiple disadvantages (recovering from homelessness, isolation, mental health difficulties, or substance misuse) to belong, gain self-confidence and rediscover their value as they participate in a wide variety of courses and experiences offered.

Pathways includes one-to-one support with budgeting, tenancy retention and goal setting. Pathways run a variety of courses that aim to give clients skills for work, independence and life. The courses content and activities are organic in nature, with the emphasis on what each group or individual identifies as their priority or need. This year it has included carpentry, cooking, angling, guitar, barbering, interview skills, I.T skills and bike maintenance. We work with outside companies to provide employment support and voluntary work opportunities that can sometimes lead to paid roles. We are committed to having a strength-based approach that acknowledges and celebrates the wealth of experience in the room, and we come together to learn from each other as a community. We run a coffee and connect group as a soft entry point every week which aims to help clients to build a strong community among themselves and has been a key to people really getting involved in what we are doing. We also run a weekly outdoor activities group aimed at increasing mental and physical wellbeing of our client base.

FUNDRAISING

The fundraising strategy for HopeWorks is designed and delivered by a team with the approval of the Senior Leadership Team (SLT) and trustees. To respond to the changing nature of fundraising in the current economic climate and the digital world in which we now live, we have diversified our income streams and harnessed new ways to increase opportunities for people and organisations to partner with us financially. We employed a fundraising officer to work alongside our fundraising manager. We also outsourced some bid writing to Better Story as we felt we did not have enough internal capacity for the larger grants we wanted to apply to.

HopeWorks seeks to raise funds from Regular and Major Donors, Churches, Corporate and Community Fundraising. We have seen particular growth in the area of corporate support this year, and due to our location are conducting an increasing number of tours, many of which result in donations being made.

HopeWorks adheres to legal principles underpinning fundraising and takes all reasonable steps to treat a donor fairly, enabling them to make an informed decision about any donation. We also have an internal ethical framework which steers our activities. We do not engage in fundraising which is an unreasonable intrusion on a person’s privacy or forces anyone to donate.

THE FUTURE

Despite the uncertainty facing the charity sector at this time, HopeWorks remains committed and focused on delivering our core mission to tackle homelessness and its causes, show the love of Jesus to the broken and lost, provide opportunity for change and draw people out of isolation into a meaningful community. Our plans include actions to mitigate against the unknown as well as building on what we know are our strengths, setting us apart to be creative, caring, and professional in all that we do.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Income

We feel in a good and stable place financially at this point and therefore are seeking to see how we best future proof our income and create opportunity for growth. We are doing this in several ways:

Increasing the diversity of income streams across contracts, grants and churches, businesses, and individuals. We have secured extensions on our contracts for resettlement which gives a high degree of stability during this period.
We are looking at additional income streams such as DWP contracts, social enterprise and adult skills funding.
We have created new ways people can donate and are continuing to introduce new ways to engage digitally with one off or regular donors.
We have employed an external grant writing, marketing, social media and campaign creating consultancy to help increase our income through these means.
We are seeking new ways to use our town centre premises which allowed us to open a Winter Night Shelter. As well providing the service to rough sleepers, this also had the effect of raising our profile considerably and bringing in more donations and support. We are looking to see if a further town centre hub would open up further opportunities.
Our rebrand has given us a new platform to work from, enabling us to communicate with more clarity about who we are and what we do.

Training

We are dealing with increasingly complex cases and are very mindful of issues for our staff around vicarious trauma, the need to navigate mental health issues, addictions, managing conflict, accurately and safely recording information, diversity awareness and inter-agency knowledge. Over this last year we have continued to explore training which will enhance service delivery and staff well-being. We have built our HR and training expertise by supporting the development of our HR officer. Additionally, we send selected staff on specialist courses as we begin to build our expertise in areas of complex case management. We are particularly interested in exploring therapeutically informed environments for our clients and creating access to counselling, recognising the need to treat the whole person when dealing with homelessness and its causes, and are therefore looking to upskill in this area. One of our strategic objectives is in Learning and Excellence and this remains an area we are seeking to develop.

Services

There are many areas of need across our town and beyond that we are aware of. We are focusing our attention on the things we know we do best: working with and valuing the individual to bring about longlasting change with compassion and professionalism. There is a particular problem in Bedford with the number of rough sleepers and those in temporary accommodation, therefore we are seeking new ways to break the cycle and help people find and keep a home. To this end we are:

Exploring creative ways to provide homes and support which will break the cycle of homelessness.
Continuing with the development of low support accommodation, providing homeless people with a stepping stone to successfully obtaining and maintaining their own independent tenancy, including the targeting of particularly vulnerable groups.
Exploring the needs and viability of providing further accommodation and support to asylum seekers and destitute migrants.
Continuing to grow and develop Pathways, creating a positive community for those who access it and building more links with local employers and businesses. This is a strong model for long term homelessness prevention.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Developing information and training resources for other churches to use to tackle poverty where they are based and for schools to raise awareness among young people about the needs of people in society around them.

Trustees, Governance and Management

The Trustees/Directors of HopeWorks during 2025 are as follows:

Vanessa Lipski
Matthew Burge
Nigel Taylor
Simon Cook (resigned Nov 25)
Sue Frossell
Samantha Roach (resigned Jan 25)
Dr John Cooper (joined Nov 25)

The Trustees are also directors of the company. New Trustees are appointed with the approval of the other Trustees and in accordance with the Memorandum and Articles of Association. Without exception, new Trustees are already familiar with the work of HopeWorks. Prior to their appointment, new Trustees will meet with the Chair of the Trustees to review:

The roles and responsibilities of a Trustee.
The main documents which set out the operational framework for the charity including the Memorandum and Articles of Association.
Resourcing and the current financial position.
Future plans and objectives.
The Trustee Induction Procedure and Trustee Job Description.

Trustees’ Responsibilities Statement

The Trustees (who are also directors of HopeWorks 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. This includes 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.
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.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

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 taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

There is no relevant audit information of which the charitable company’s auditor is unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. The Trustees met four times during 2025 and were regularly consulted and informed on matters of importance. In the year ending 31st December 2025, the Trustees had insurance cover up to the sum of £1 million. Trustees’ insurance is now part of our general insurance policy.

Management Team

The day-to-day running of HopeWorks is delegated by the Trustees to a Management Team composed of the Chief Executive Officer and Senior Management Team.

SENIOR MANAGEMENT TEAM (SMT). This consists of the CEO, Head of Operations, Head of Outreach and Support Services, Head of Refugee and Migrant Services and Head of Accommodation and Pathways. This team meets regularly to assess the overall health and direction of the charity. The Strategic Leadership Team (SLT) is made up of the SMT plus the Refugee & Migrant Services Team Leader, ESOL Team Manager, Finance Manager, Fundraising Manager and the Senior HR Officer. This setting creates space for key leaders across the organisation to explore opportunities, exchange information and make strategic decisions.

STAKEHOLDER ENGAGEMENT. As well as having Trustees and Managers to oversee HopeWorks we are committed to involving our clients in how we shape and deliver our services. We have a history of employing past service users and currently have several people on staff who have experienced homelessness and addiction in our town or who have lived experience of the asylum and immigration systems. We Chair the Bedford Homeless Executive Partnership which is committed to equipping its members in co-production training and encouraging all agencies to embrace these principles.

"Full co-production means sharing power – giving people who use services an equal chance to sit at the table and make decisions about how to run it better. It means building up their confidence and developing their skills so that they can participate fully. It also means involving staff in the process and not just managers and trustees." - Homeless Link, 2018

GOVERNANCE. Oversight is provided by the Trustees, principally via their meetings generally held at least three times a year. The Senior Management Team meets once a month to monitor the overall health of the charity. The operations team meets once a month to go over the budget, fundraising, and performance against contracts.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Policies and Procedures

SAFEGUARDING. At HopeWorks we believe that every individual who accesses our services should be treated with dignity and respect, have their choices respected and not be forced to do anything against their will. HopeWorks is committed to safeguarding all service users and their children encountering the organisation, regardless of gender, ethnicity, disability, sexuality, or beliefs. Safeguarding is everyone’s responsibility and all employees who, during their employment, have direct or indirect contact with vulnerable adults or children, or who have access to information about them, have a responsibility to safeguard and promote their welfare. Our policy includes, but is not limited to, safe recruitment, safe environment, safe culture, roles and responsibilities, procedures, duty to report and confidentiality.

GDPR. Our Head of Operations works closely with our HR and IT consultants to ensure that all our staff are trained and regularly updated on good practice with respect to GDPR. Given the vulnerability of our clients, the sensitive nature of much of the information we hold and the increase in remote working, we have taken extra steps to ensure that all IT equipment is secure. This is reviewed by the SLT on a regular basis.

EQUAL OPPORTUNITIES. Our services are provided to all people, regardless of religion, race, ethnicity, gender, or sexual orientation. Our assistance and our programmes are offered to all with no conditions attached. We do not discriminate against anyone, whether clients or staff. HopeWorks is a Christian organisation committed to fulfilling its mission and ethos in accordance with the values of its Christian faith. Accordingly, as a Christian organisation, there are posts which we believe can only be filled by Christians. These roles are kept under regular review. The nature of these posts or the context in which they are carried out and their link to the organisation’s ‘Statement of belief’ give rise to a Genuine Occupational Requirement (GOR) for the post-holders to be Christian. All employees in these posts are required to demonstrate a clear, personal commitment to the Christian faith.

HEALTH AND SAFETY. HopeWorks recognises and accepts its legal obligations under the Health and Safety at Work Act 1974 and all applicable regulations made under it to ensure, as far as is reasonably practical, the health and safety and welfare at work of all its employees, persons in training, directors, contractors, temporary workers and volunteers (“Employees”) and the health and safety of service users, visitors and other persons who attend or use its premises. In accordance with its legal obligations, the Employer has conducted a risk assessment of its activities, equipment, facilities, building and all other related arrangements where matters of health and safety may be involved.

FAMILY FRIENDLY. HopeWorks aims to be a family friendly employer. We have policies to support this including but not limited to part time working, working from home, maternity/paternity/adoption leave, flexible emergency leave, and carers leave.

REMUNERATION POLICY. The pay policy for all staff is reviewed annually, and new posts are benchmarked against pay levels in equivalent posts in other organisations and external benchmark data. In addition to salary, we also offer a generous Employer Contribution Pension Scheme, Death In-Service Insurance, up to 33 days’ annual leave per year, an employee benefits platform, including Cycle to Work, discounted social activities and an Employee Assistance Programme.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Financial Overview

The accounts are prepared for 12 months of operations. A summary of the income and expenditure (£K) for 2025 and 2024 is shown below:


	2025	2024
Income	£3,036,585	£2,550,083
Expenditure	£2,775,246	£2,235,977
Surplus/Deficit	£261,339	£314,106

Income totalled £3,036,585 in 2025, an increase of 19% compared with 2024. During 2025 there was a surplus of £261,339 compared with a surplus of £314,106 in 2024.

Reserves

The policy on reserves, agreed by the Trustees, is that the appropriate level of unrestricted (including designated) reserves should be based on a proportion of our regular costs as follows:

Four months of long-term commitments, such as rent and utilities payments and the cost of running services which are a vital activity to maintain.
Two months of medium-term commitments such as permanent staff costs and the financial support we provided to external parties.
One month of short-term costs, including the day-to-day activities of the Charity.

Using the above criteria, a detailed review has estimated that reserves for 2025 should be at least £545k. The current free reserves are £241k (unrestricted reserves of £214.6k + non-essential designated reserves of £130.9k – fixed assets £104.5k), plus essential designated reserves of £543.6k towards Refugee and Migrant services show we are well above the amount specified by the policy and this will continue to be monitored during 2026.

Total reserves at the end of the year were £979.7k, of which £90.7k were restricted reserves made up of the following funds: -

Nightshelter fund of £90.7k represents specific donations given towards future emergency accommodation. However, as the provision of emergency accommodation is no longer required in the area where the Charity operates - due to the sufficient existing provision of such accommodation - the Charity will be seeking permission from the Charity Commission in 2026 to reallocate these funds. The intention is to redirect them toward the provision of other charitable services aligned with the Charity’s objectives. Subject to approval, the funds will be reassigned as either designated or restricted funds, as appropriate.

Investment Policy

The Charity’s policy is to have reserve funds invested such that the total in any one bank or building society is below the £120k guarantee limit provided by the Financial Services Compensation Scheme (FSCS). However, at the year-end, £460k was held with its main banking provider, Unity Trust Bank, thereby exceeding the FCSC protection limit. To mitigate this risk, the Charity will be exploring savings accounts with other banks in which it can invest to maintain compliance with this policy. In the current uncertain financial climate and

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

with interest rates being very low, priority is being given to protecting the reserves under FSCS rather than seeking to maximise interest.

Risk Management

The major risks as recognized by the Trustees are detailed below.


Nature of Risk	Risk Level	Mitigation
GOVERNANCE
Well-being CEO/leadership team	Low	Access to support through HR, broadening of responsibilities across team, good pastoral, and well-being support
Inadequate reserves	Low	Diversity of income streams to increase revenue. Fundraising strategy in place to maximise opportunities. Outsourcing bids and trusts to consultants. New accounting system in place to help manage daily progress more efficiently. Internal monitoring in place with Trustee oversight to look at spending against cash in the bank and level of reserves.
Size and skill set on Trustee board	Medium	Currently on-boarding one more trustee.
Staff recruitment/retainment	Low	Improved recruitment process. Increased access to staff benefits. Building a culture of value, motivation, and purpose. Recent pay increase. Staff survey suggests engagement and satisfaction is high
Mission Drift	Low	Strategic objectives being revisited in 2026. Rebrand strengthened focus. Staff survey suggests clear understanding and connection with mission.
EXTERNAL RISKS
Cyber-attacks – hacking, email interceptions etc	Low	New contract with IT consultants has ensured all systems and equipment are fully protected with antivirus, firewalls, and insurance.
Loss of Office space due to fire/flood or notice on lease	Low	People can work from home, good relationship with landlords. All properties protected with fire systems.
Loss of Office Server/Client info	Low	All info backed up on Microsoft Sharepoint, also client information stored on InForm

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22


Pandemic	No longer in one	Everyone has been offered vaccines. PPE and screens stored if ever needed again.
COMPLIANCE WITH LAW AND REGULATION
Accused of discrimination and prejudice in the local and national media due to acts of past or present staff	Low	Adhere to Equality Act and equality policies. Have prepared a robust response to GOR.
Accused of discrimination	Low	Adhere to Equality Act and equality policies. Have prepared a robust response to GOR.
Employee accusing discrimination	Low	Adhere to Equality Act and equality policies. Have prepared a robust response to GOR. Use Avensure as our external HR consultants to provide advice and insurance.
OPERATIONAL RISKS
Loss of housing provision due to extreme circumstances such as fire or flood.	Low	Ensuring all properties up to safety standards to protect against damage and accidents. On-going relationship with other housing providers.
Change or Leadership	Low	Well established team with broadening and transparent procedures- operational procedures well documented so others across the team could pick up and work with.
Client/staff member seriously injured/killed	Low	Health and safety training/policies in place, access to HR if support needed
Competition in the market for our client group	Medium	Seeking to upskill staff to work with more complex needs. Looking for funding for restricted eligibility clients. Have opened a different style of move on housing. Increased capacity in pathways and outreach teams. Gained new contract extension for resettlement.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Achievements and Performance

HopeWorks finished 2025 in a strong financial position. Our monthly expenditure was less than budgeted, and we benefitted from our ongoing National Lottery Grant, although otherwise income from grants was disappointing in line with the national trend of this becoming a tougher environment. Our current contracts remain a steady source of income, and we have a budget going into 2026 design to ensure we have designated funds to allow for a tapering off income from contracts over the next two/three years and build our resilience through other income sources.

In 2025 we were able to work with and support:

Service	2025 Achievement
Outreach	122 Individuals
Winter Night Shelter	115 individuals
Supported Accommodation	67 Individuals
Resettlement and Integration Support	90 families
ESOL	206 Individuals (50 of which were children)
Pathways	85 Individuals

Our income comes from a variety of sources. We have 4 contracts across Bedford Borough Council and Central Bedfordshire local council, which in total accounts for the on-going employment and salary costs for 29 of the current staff team. 8 of our team are covered through housing benefits. The remaining posts must be covered through fundraising, trusts and grants.

We are developing new ways to increase community involvement with HopeWorks as well focusing in house on growing our regular donor base as a way of providing as much forecastable income as possible. Our move to the town centre has raised our profile and accessibility, giving us the opportunity to expand our services and further develop our relationships with local businesses and corporate partners.

We have negotiated an increase in our housing benefit rates and have been able to claim housing benefit for up to 43 bed spaces at any one time through our move on housing, which provides a significant and consistent portion of our income, including the staff costs of 8 employees.

With increasing numbers of people at risk of returning to homelessness following the increase in demand for temporary accommodation, pressures on other support services in the community and the cost of living increases, our services continue to be in high demand as we focus efforts on prevention through supported housing and our Pathways programme, which is growing in impact and continues to draw attention from funders. Our work with refugees and asylum seekers and support for those with no access to public funds is increasing in line with our policy to find a dignified solution for these individuals.

Given the diversity of our income streams, the increasing demand for our services and our growing reputation for excellence with local and national partners and funders, we feel that we are in a strong position to continue to deliver and expand our services.

Trustees’ Report and Financial Statements 2025 Company no. 07433621. Charity no. 1139956. 20

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Auditor

The auditor, Moore Kingston Smith LLP who have signified their willingness to act on HopeWorks behalf, were re-appointed to HopeWorks by the Trustees for the 2025

Statement of Disclosure of Information to Auditor

We, the directors of the company who held office at the date of approval of these Financial Statements, as set out above, each confirm so far as we are aware, that: there is no relevant audit information of which the company’s auditors are unaware; and we have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

The Trustees have prepared this report in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.

Approved by the Trustees on and signed on their behalf:

Vanessa Lipski Chair of Trustees Date: 7/8/2026

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HOPEWORKS UK (BEDFORD)

Opinion

We have audited the financial statements of HopeWorks UK (Bedford) (the ‘charitable company’) for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 December 2025, and of its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern.

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees’ Report which includes the Directors’ Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors’ Report included within the Trustees’ Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception.

In light of the knowledge and understanding of the charitable company and its environment obtained during the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption in preparing the Trustees’ Report and from the requirement to prepare a Strategic Report.

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of HopeWorks UK (Bedford) and its activities, the following laws and regulations were identified as being of significance to the entity:

Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards (FRS 102), Company Law (Companies Act 2006), Charity Law (Charities Act 2011), the Charities Statement of Recommended Practice (Charity SORP) and Pension legislation.
Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charitable company and therefore may have a material effect on the financial statements include compliance with the charitable objectives, public benefit, safeguarding, data protection, health and safety legislation and employment regulations.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; inquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Trustee meeting minutes; testing the appropriateness of journal entries and; the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of the audit report

This report is made solely to the charitable company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body for our audit work, for this report, or for the opinions we have formed.

Partner Date: 7/8/2026

Jonathan Aikens (Senior Statutory Auditor) For and on behalf of Moore Kingston Smith LLP Chartered Accountants and Registered Auditors

9 Appold Street London EC2A 2A

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

FINANCIAL STATEMENTS 2025

COMPANY NO. 07433621

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT

Income Notes Income from generated funds Voluntary income Donations and legacies Other income/fundraising Investment income Income from charitable activities Rent & Housing Benefit Supporting People/Rough Sleeper Outreach Refugee Support Grants Total Income 2 Expenditure Cost of raising funds Charitable activities Core Operations Outreach Accommodation Refugee Support Opportunity Total Expenditure 3 Net movement in funds 5 Balance brought forward 5 Transfers between funds 5 Balances carried forward 5 & 10	Unrestricted funds year ended 31/12/25 Designated funds year ended 31/12/25 Restricted funds year ended 31/12/25 Total funds year ended 31/12/25 Total funds year ended 31/12/24 £ £ £ £ £ 175,259 9,826 29,324 214,409 232,153 118 - 1,006 1,124 999 5,640 - - 5,640 2,590 - 719,012 - 719,012 602,532 - - 70,297 70,297 37,881 - 1,734,064 - 1,734,064 1,455,550 - - 292,039 292,039 218,378
	181,017 2,462,902 392,666 3,036,585 2,550,083
	124,647 - - 124,647 124,515 - - 53,853 53,853 64,428 - 69,603 193,345 262,948 185,681 - 598,903 10,000 608,903 537,378 - 1,496,429 45,860 1,542,289 1,169,412 - 43,764 138,842 182,606 154,563
	124,647 2,208,699 441,900 2,775,246 2,235,977
	56,370 254,203 (49,234) 261,339 314,106 228,577 399,149 90,671 718,397 404,291 (70,356) 21,122 49,234 - -
	214,591 674,474 90,671 979,736 718,397

The charity’s incoming resources and resources expended all relate to continuing operations. The charity has

no recognised gains or losses other than those included above. The notes on pages 29 to 40 form part of these accounts.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Formerly King’s Arms Project (Bedford)

BALANCE SHEET AS AT 31 DECEMBER 2025

COMPANY NO. 07433621

Notes Property, plant and equipment Tangible assets 6 Current assets Debtors 7 Cash and cash equivalents 8 Total current assets Creditors falling due within one year 9 Net current assets Net assets Funds 5 & 10 Unrestricted funds Designated funds Restricted funds Total funds	2025 £ 104,535 327,516 677,458 1,004,974 (129,773) 875,201 979,736 214,591 674,474 90,671 979,736	2024 £ 101,347 323,391 476,934
		800,325 (183,275)
		617,050
		718,397
		228,577 399,149 90,671
		718,397

The notes on pages 29 to 40 form part of these accounts.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The financial statements were approved and authorised for issue by the Trustees on 22nd July 2026 and signed on their behalf.

V. Lipski M. Burge Trustee Trustee

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

STATEMENT OF CASH FLOWS AT 31 DECEMBER 2025

Cash flows from operating activities: Net movement in funds Depreciation Surplus on sale of fixed assets Interest received Increase in trade and other receivables Increase / (decrease) in trade and other payables Net cash inflow from operating activities Cash flows from investing activities Purchase of property, plant and equipment Proceeds from the sale of property, plant and equipment Interest received Net cash outflow from investing activities Net increase / (decrease) in cash and cash equivalents Opening cash and cash equivalents Net increase in cash and cash equivalents Closing cash and cash equivalents	2025 £ 2024 £ 261,339 314,106 76,439 55,296 - - (5,640) (2,590) (4,125) (93,354) (53,502) 92,437
	274,511 365,895 (79,627) (48,508) - - 5,640 2,590
	(73,987) (45,918)
	200,524 319,977
	476,934 156,957 200,524 319,977
	677,458 476,934

The notes on pages 29 to 40 form part of these accounts.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

NOTES TO THE FINANCIAL STATEMENTS Accounting policies

1.1 General information

HopeWorks UK (Bedford) formally King’s Arms Project (Bedford) is a charitable company limited by guarantee (Company No. 7433621), registered in England and Wales, and has no share capital. It was incorporated on 9th November 2010 and registered as a charity on 20th January 2011 (Charity No. 1139956). In the event of the charity being wound up, the liability in respect of the guarantees is limited to £10 per member of the charity. The address of its registered office and principal place of business is disclosed in the company information on page 3 of this Annual Report.

HopeWorks UK (Bedford) is a public benefit entity as defined by FRS 102. The nature of the charity’s operations and principal activities are to relieve financial hardship particularly but not exclusively among the homeless or those at risk of homelessness and to promote and preserve good health, and t o advance the Christian faith.

In October 2025 we rebranded to HopeWorks UK (Bedford). The reason for our rebrand is that over the years, we have seen how hope has been instrumental in bringing lasting change in people’s lives. As we move forward, we wanted to keep hope at the forefront of everything that we do and thus changed our name to HopeWorks. A name that speaks to our present and future and honours our legacy.

1.2 Accounting convention and basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Charities Act 2011, the Companies Act 2006. and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.

The financial statements are presented in sterling, which is also the functional currency of the charity and rounded to the nearest £.

1.3 Income

Any income received is credited to the relevant fund. The following policies are applied to particular categories of income: -

Donations and Gift Aid - Income receivable by way of donations is included in the Statement of Financial Activities when receivable. Tax credits (gift-aid) are included in the financial statements on an accruals basis

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

as recommended by the Statement of Recommended Practice. This means that tax credits are taken into account in the period in which the originating donation was made.

Legacies - are recognised when receipt is probable, and the amount can be reliably measured.

Investment Income - is included in the Statement of Financial Activities when receivable.

Income from charitable activities - incoming resources from charitable activities are accounted for when earned.

Grant Income - incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant, the amount can be measured, and it is probable the funds will be received.

1.4 Voluntary assistance and donated goods

Volunteers are key to the success of HopeWorks UK (Bedford) and during 2025 there were over 162 (2024: 171) volunteers giving approximately 4522 hours of service in 2025 (2024: 5,370). Volunteers provided assistance to HopeWorks UK (Bedford) including assisting in ESOL classes, creche and our Language Club as well as Pathways courses and staffing our Winter Night Shelter. Donated goods include food, clothes, and consumables for the homeless. Voluntary assistance and donated goods are not recognised in the financial statements as the amount cannot be measured accurately.

1.5 Allocation of costs

Costs are allocated directly to funds whenever applicable. Staff costs, and internal indirect costs, are allocated on a proportional basis between funds where services are provided from within the organisation.

1.6 Pension costs

The pension costs charged in the financial statements represent the contributions payable by the charitable company during the year.

1.7 Redundancy and termination payments

Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the charitable company is demonstrably committed to either: terminate the employment of an employee or group of employees before normal retirement date; or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.

1.8 Operating leases

Rentals payable under operating leases are charged on a straight-line basis over the term of the lease.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

1.9 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures and fittings 20%-33% straight line Leasehold improvements over the period of the lease Motor vehicles 20% straight line

Tangible assets above £500 are capitalised.

1.10 Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction values and subsequently measured at their settlement value.

Debtors: Debtors are recognised on the accrual’s basis at the settlement amount due. Prepayments are valued at the amount prepaid and accrued income is valued at the best estimate of expected receipts.

Cash and cash equivalents: Cash at bank and in hand includes cash and short term highly liquid investment with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors: Creditors 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 party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.

1.11 Unrestricted, designated, and restricted funds

Unrestricted funds are funds given for the general purposes of the charitable company and these funds may be expended on the objects of the charitable company at the discretion of the Trustees.

Designated funds are unrestricted funds set aside for a purpose as determined by the Trustees.

Restricted funds are those funds that have been given for a specific purpose, and they must only be expended on that purpose.

There is an overarching fund for HopeWorks UK (Bedford) administration. This fund receives donations for general expenditure on any aspect of the work of the Charity. Within these criteria, the Trustees have discretion as to which designated fund the funds will be applied to.

1.12 Judgments in applying accounting policies and key sources of estimation uncertainty.

In applying the company's accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The trustee’s judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. The key area of judgement in the accounts relates to voluntary assistance and donated goods - refer to note 1.4.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

2 Total Income

Unrestricted Income Designated Income OUTREACH ACCOMMODATION REFUGEE AND MIGRANT SERVICES OPPORTUNITY Total Designated Income Restricted Income CORE OPERATIONS OUTREACH Outreach Service Winter Nightshelter ACCOMMODATION REFUGEE SUPPORT Refugee and Migrant Services Refugee Care Fund OPPORTUNITY Total Restricted Income Total Income	Donation & Legacies Fundraising Investment Income Rent & Housing Benefit Supporting People Services Income Grants Year ending 31.12.2025 Total Year ending 31.12.2024 Total £ £ £ £ £ £ £ £ £
	175,259 118 5,640 - - - - 181,017 174,098
	4,910 - - - - - - 4,910 79,760 - - - 699,458 - - - 699,458 583,316 6 - - 19,554 - 1,734,064 - 1,753,624 1,493,528 4,910 - - - - - - 4,910 -
	9,826 - - 719,012 - 1,734,064 - 2,462,902 2,156,604
	- - - - - - 53,853 53,853 64,428 1,750 - - - - - 99,515 101,265 92,842 16,963 1,006 - - 70,297 - - 88,266 - - - - - - - 10,000 10,000 - 2,080 - - - - - 38,035 40,115 18,341 - - - - - - - - 1,003 8,531 - - - - - 90,636 99,167 42,767
	29,324 1,006 - - 70,297 - 292,039 392,666 219,381

	214,409 1,124 5,640 719,012 70,297 1,734,064 292,039 3,036,585 2,550,083

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

3 Total Expenditure

Fundraising & Publicity Designated Expenses OUTREACH ACCOMMODATION REFUGEE AND MIGRANT SERVICES OPPORTUNITY Total Designated Expenses Restricted Expenses CORE OPERATIONS OUTREACH Outreach Service Winter Nightshelter ACCOMMODATION REFUGEE SUPPORT Refugee and Migrant Services Refugee Care Fund OPPORTUNITY Total Restricted Expenses Total Charitable Expenditure	Staff Costs Direct Costs Indirect Costs Depreciation Year ending 31.12.2025 Total Year ending 31.12.2024 Total £ £ £ £ £ £
	59,682 64,965 - - 124,647 124,515
	26,999 21,521 8,853 12,230 69,603 92,839 226,399 309,080 36,015 27,409 598,903 486,274 780,664 594,443 91,071 30,251 1,496,429 1,144,920 31,884 - 11,880 - 43,764 48,217
	1,065,946 925,044 147,819 69,890 2,208,699 1,772,250
	53,853 - - - 53,853 64,428 101,265 - - - 101,265 92,842 55,204 15,702 19,910 1,264 92,080 - 10,000 - - - 10,000 51,104 40,115 - - - 40,115 18,341 5,745 - - - 5,745 6,151 99,937 24,023 9,597 5,285 138,842 106,346
	366,119 39,725 29,507 6,549 441,900 339,212

	1,491,747 1,029,734 177,326 76,439 2,775,246 2,235,977

Included in direct costs is auditor’s remuneration of £10,450 (2024: £9,600) plus VAT.

The difference between Staff Costs in the above and Employee Information in Note 4 is £40,802. This is due to staff life insurance; recruitment expenses and agency worker’s charges being included in the above but not in Note 4.

Fundraising and publicity costs relate mainly to staff working to secure grants and funding from a variety of organisations and grant-making trusts as well as organising fundraising events during the year.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

4 Employee information

mation
Salaries Social security costs Pension Total	2025 2024 £ £ 1,233,115 1,001,202 124,220 78,729 93,610 72,300
	1,450,945 1,152,231

The table below details how many employees are required for each project/service

OPERATIONS Management & administration Fundraisers OUTREACH Outreach WNS Bank Workers ACCOMMODATION Move on Housing OPPORTUNITY Pathways REFUGEE SUPPORT Refugee Support ESOL Bank Workers Total Employees Total Full-Time equivalents (FTE)	2025 2024 8 8 2 2 4 2 2 1 8 8 4 3 12 9 15 12 2 2
	57 47
	44.74 36.95

One employee received remuneration between £60k-£70k in 2025 (Nil: 2024).

Trustee remuneration is in accordance with the Memorandum & Articles of the Trust for services provided to the Trust. Trustee remuneration during the year 2025 was nil (2024: £nil). Trustee expenses reimbursement during the year 2025 was nil (2024: nil).

Remuneration of key management personnel for the year ended 31 December 2025 comprising the CEO, Head of Outreach and Support Services, Head of Operations, Head of Refugee and Services and Head of Accommodation and Pathways totalled £260,827 (2024: £253,776).

Total termination and redundancy costs amount to £4,308 during the year 2025 (2024: £0). There was no liability outstanding at the reporting date (2024: nil).

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

5 Movement in funds

Unrestricted Funds Designated Funds OUTREACH ACCOMMODATION REFUGEE AND MIGRANT SERVICES OPPORTUNITY Total Designated Funds Restricted Funds CORE OPERATIONS OUTREACH Outreach Service Winter Nightshelter Nightshelter Fund ACCOMMODATION REFUGEE SUPPORT Refugee and Migrant Services Refugee Care Fund OPPORTUNITY Total Restricted Funds Total movement in funds	Opening balance 2025 Income Expenditure Transfers Closing balance 2025 £ £ £ £ £
	228,577 181,017 (124,647) (70,356) 214,591
	- 4,910 (69,603) 64,693 - 50,541 699,458 (598,903) (20,204) 130,892 348,608 1,753,624 (1,496,429) (62,221) 543,582 - 4,910 (43,764) 38,854 -
	399,149 2,462,902 (2,208,699) 21,122 674,474
	- 53,853 (53,853) - - - 101,265 (101,265) - - - 88,266 (92,080) 3,814 - 90,671 - - - 90,671 - 10,000 (10,000) - - - 40,115 (40,115) - - - - (5,745) 5,745 - - 99,167 (138,842) 39,675 -
	90,671 392,666 (441,900) 49,234 90,671

	718,397 3,036,585 (2,775,246) - 979,736

Restricted funds represent grants or specific donations received for a particular purpose, the balances at the year-end represent the following: -

Nightshelter fund of £90.7k represents specific donations given towards future emergency accommodation. However, as the provision of emergency accommodation is no longer required in the area where the Trust operates - due to the sufficient existing provision of such accommodation - the Trust will be seeking permission from the Charity Commission in 2026 to reallocate these funds. The intention is to redirect them toward the provision of other charitable services aligned with the Trust’s objectives. Subject to approval, the funds will be reassigned as either designated or restricted funds, as appropriate.

Designated funds for Outreach, Accommodation, Refugee and Migrant Services, and Opportunity represent funds received to deliver a contracted service. Any deficit in designated funds is then covered from the unrestricted fund. Any surplus from a designated fund is transferred to unrestricted fund at the year-end except in the cases where contracted services are for a period beyond the end of the current year-end. The purpose of the unrestricted fund is to:

cover any deficits in designated funds.
meet the requirements of the HopeWorks Reserves policy.
to keep funds available for future developments of the HopeWorks.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

6 Property, plant, and equipment

Fixtures and fittings Leasehold improvements £ £ 124,916 184,517 22,304 37,873 (46,180) -	Fixtures and fittings Leasehold improvements £ £ 124,916 184,517 22,304 37,873 (46,180) -	Motor vehicles Total £ £ 6,780 316,213 19,450 79,627 - (46,180)
101,040 222,390		26,230 349,660
106,829 101,257 16,204 56,345 (46,180) -		6,780 214,866 3,890 76,439 - (46,180)
76,853 157,602		10,670 245,125

24,187 64,788		15,560 104,535
18,087 83,260		- 101,347
	2025 £ 239,868 83,482 4,166 327,516 2025 £ 677,458 677,458 2025 £ 60,042 38,193 31,538 129,773	2024 £ 147,838 169,339 6,214 323,391 2024 £ 476,934 476,934 2024 £ 79,775 76,305 27,195 183,275

7 Debtors

8 Short term deposits and cash and cash equivalents

9 Creditors falling due within one year.

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

Deferred income At 1stJanuary Grants awarded within the year Released to incoming resources for the year At 31st December	76,305 38,193 (76,305) 38,193	22,622 76,305 (22,622)
		76,305

Income is deferred where income has been received in advance, or the recognition criteria have not yet been met.

10 Net assets held by funds.

Unrestricted Funds Designated Funds OUTREACH ACCOMMODATION REFUGEE AND MIGRANT SERVICES OPPORTUNITY Total Designated Funds Restricted Funds CORE OPERATIONS OUTREACH Outreach Service Winter Nightshelter Nightshelter Fund ACCOMMODATION REFUGEE SUPPORT Refugee and Migrant Services OPPORTUNITY Total Restricted Funds Total Funds	Property, plant, and equipment Debtors Bank and cash Creditors Total 2025 Total 2024 £ £ £ £ £ £
	53,431 32,647 157,519 (29,006) 214,591 228,577
	10,497 1,173 (349) (11,321) - - 16,187 53,783 93,416 (32,494) 130,892 50,541 17,146 221,612 331,130 (26,306) 543,582 348,608 7,274 1,711 (6,999) (1,986) - -
	51,104 278,279 417,198 (72,107) 674,474 399,149
	- 500 7,123 (7,623) - - - 2,000 (2,000) - - - - 1,661 12,495 (14,156) - - - - 90,671 - 90,671 90,671 - - - - - - - 8,253 (8,523) - - - - 3,906 2,975 (6,881) - -
	- 16,590 102,741 (28,660) 90,671 90,671

	104,535 327,516 677,458 (129,773) 979,736 718,397

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

11 Financial commitments and contingent liabilities

At the year end the charitable company was committed to making the following payments under operating leases in the coming year. These relate to 13 property leases and vary depending on the length of term of the lease:

Expiring within one year Expiring within two to five years Expiring over five years Total	Total 2025 £ 211,983 212,486 - 424,469	Total 2024 £ 191,970 232,948 -
		424,918

12 Pension costs

During the year defined contribution pension costs of £93,610 (2024: £72,301) were paid on behalf of 60 employees (2024: 45) to pension schemes administered independently of the charitable company. There were no pension liabilities outstanding at the year-end.

13 Post Balance Sheet Events

Please refer to the Risk Management section of the Trustees’ Report on pages(s) 18 to 19.

14 Related Party Transactions

During the year 2025 trustees donated £2,650 and senior leadership donated £1,851 (2024: £15,462) to the charity.

During the year, the charity repaid the costs of filing the accounts of £64 (2024: £34) to a limited liability partnership (LLP) which a Trustee is a member of. The LLP had paid the cost when filing the accounts for the charity. There was no liability outstanding at year end (2024: nil).

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID: BAF58A8F-7777-8998-823A-05C4FE262F22

15 SOFA for Year ending 31[st] December 2024 showing funding split

Income Income from generated funds Voluntary income Donations and legacies Other income/fundraising Investment income Income from charitable activities Rent & Housing Benefit Supporting People/Rough Sleeper Outreach Refugee Support Grants Total Income Expenditure Cost of raising funds Charitable activities Core Operations Outreach Accommodation Refugee Support Opportunity Total Expenditure Net movement in funds Balance brought forward Transfers between funds Balances carried forward	Unrestricted funds year ended 31/12/24 Designated funds year ended 31/12/24 Restricted funds year ended 31/12/24 Total funds year ended 31/12/24 £ £ £ £ 171,508 59,642 1,003 232,153 - 999 - 999 2,590 - - 2,590 - 602,532 - 602,532 - 37,881 - 37,881 - 1,455,550 - 1,455,550 - - 218,378 218,378
	174,098 2,156,604 219,381 2,550,083
	124,515 - - 124,515 - - 64,428 64,428 - 92,839 92,842 185,681 - 486,274 51,104 537,378 - 1,144,920 24,492 1,169,412 - 48,217 106,346 154,563
	124,515 1,772,250 339,212 2,235,977
	49,583 384,354 (119,831) 314,106 281,775 - 122,516 404,291 (102,781) 14,795 87,986 -
	228,577 399,149 90,671 718,397

Trustees’ Report and Financial Statements 2025

Company no. 07433621. Charity no. 1139956.

Docusign Envelope ID". BAF58A8F-7777-8998-823A-05C4FE262F22 Hope Works UK (Bedford) This is ourcommunity. This is where hope begins. HopeW*s.: . _ Restore. Rebuild. Re ine. W& br80k cycles of povety and londln8ss by cr8Oting s wherg people find $uppo¢ dignlty onrj the ¢fnCe to stort o r ¢ommunlty, Company no. 07433621. Charity no.1139956.