REGISTERED COMPANY NUMBER: 07968840 (England and Wales) REGISTERED CHARITY NUMBER: 1148243
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
HOPE CHURCH, NOTTINGHAM
David Rice Associates Ltd Chartered Certified Accountants
4 Wellington Circus Nottingham Nottinghamshire NG1 5AL
HOPE CHURCH, NOTTINGHAM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Statement of Financial Position | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 15 |
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees 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 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The company is a private company limited by guarantee and has no share capital. It has claimed exemption from using the word "Limited".
Hope Church, Nottingham continues to define its purpose through mission, community, worship and discipleship and is pleased to have in place a youth and children's programme, small group structure, prayer, worship, teaching, ladies events, alongside social and outreach events that work towards that goal. We continue to work with other churches both within the community and across the city of Nottingham, and to be represented and respected by many of the voluntary and statutory organisations within the community.
OBJECTIVES AND ACTIVITIES
How our activities deliver public benefit
Our main activities and who we try to help are described below. All our charitable activities focus on helping to support individuals within the community of Clifton, Nottingham and beyond with a wide range of projects that promote personal, social and spiritual wellbeing leading to increased self-esteem. We take a holistic approach to our work and our activities support the development of physical, social and spiritual wellbeing and are undertaken to further our charitable purposes for the public benefit.
Significant activities
Our Continued Work in the Hope Centre
As with many charitable organisations, 2020 turned out to be a very challenging year for Hope Church as the Covid-19 Pandemic gripped the nation. Lockdown meant that many of our activities were forced to close as we moved services to online and other projects had to be suspended.
The Hope Centre had a sustained period of closure and the Hope Café had to close its doors and our staff placed on furlough. All youth and children's activities stopped.
During this extended season we were forced to think differently about how the charity functioned during this season and how our services could be offered in a different way. What became clear very quickly was that the NG11 Foodbank and what was offered through this project would need to come to the forefront. Strategic decisions were made by the trustees to hand over the main hall space on an extended term to accommodate the massive increase in need for this service.
The Foodbank Steering Group moved from monthly to weekly meetings to ensure that the project was well led during this crisis. We saw a significant increase in demand for our services along with amazing generosity from both companies and the general public in regard to donations. The Steering Group also initiated a strategic approach to fund raising to ensure our activities and services were robust and sustainable.
Page 1
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
ACHIEVEMENT AND PERFORMANCE Charitable activities
With most other activities needing to close we prioritised the following activities:
Online Services
Online Sunday service via YouTube and Facebook which proved to be a great success, kept many of our volunteers on board via digital input and opened our service to many who would never have attended the physical building.
Bags of Hope
We were able to provide Bags of Hope to both adults and children during this time which were warmly received.
Pastoral Care
Our pastoral care took on a digital structure which included contact via email, newsletters, phone calls and text - combined together, this worked to ensure people were not left isolated during the worst of the lock down months
Zoom Life Group
We hosted a weekly Zoom group which was open to all to attend and provided opportunity for chat, connection and prayer.
Special Car Park Services
Over the course of the year we were able to host several Car Park Services which were well attended and run in a Covid Safe way.
The Blessing Song
Hope Church along with the NG Network was able to host an outdoor version of the UK Blessing song at our local hospitals. This was very well received and proved a great source of encouragement for hundreds of people. The video from the event also went viral on Facebook with tens of thousands of views.
NG11 Foodbank
The NG11 Foodbank runs as part of the work of Hope Church as a joint project with the local Anglican Community. Over 40 organisations hold NG11 vouchers and over the nine years the project has been running over 4,000 vouchers have been processed by our group of dedicated volunteers. The Foodbank has continued to develop and now, in partnership, is able to offer debt advice via an external agency. In addition, food is donated to other organisations in the City who are helping assist people in desperate need including: The Friary, Emmanuel House, and Angel Green Church.
Conclusion
The year ended with further lock down restrictions and the trustees taking strategic decisions on a regular basis to both ensure the financial underpinning of the charity and the meeting of its objectives as best as possible under the restrictions it faced.
Fundraising activities
Hope Enterprises (Nottingham) Limited is the trading subsidiary company of Hope Church Nottingham and continued to operate its four shops in Clifton, Sherwood, Meadows and Crown Island. Our aim for the shops is to create optimum success for the benefit of the charity and its objectives.
The charity also operates a separate trading subsidiary, Hope Café Nottingham Limited, which operates a café within the Hope Centre. Separate accounts are submitted for Hope Enterprises (Nottingham) Limited and Hope Café Nottingham Limited to Companies House annually. Both Hope Charity Shops and Hope Café faced significant periods of closure during the year and many staff needing to be furloughed.
FINANCIAL REVIEW Principal funding sources
The Charity has four principal sources of income:
-
Voluntary contributions of its members
-
Grants
-
Gift Aid from Hope Enterprises Nottingham
-
Gift Aid returns
Reserves policy
The Trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be three months of expenditure. The reserves are needed to meet the working capital requirements of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.
Page 2
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
FUTURE PLANS
The church, having taken ownership of their new building in 2014, received a significant grant from the Big Lottery to help support the church in moving to Stage Three of the Big Lottery Reaching Communities Building Programme. Now that the Hope Centre is completed, it has matured as a central community hub within Clifton and is widely supported locally. We look forward to the activities and projects based at the Centre getting back to strength as restrictions around Covid-19 are eased.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure and staffing
The Church Council has continued to meet regularly throughout the year to monitor finance and expenditure, to oversee procedures and policies and to ensure that the charity maintains good housekeeping and adheres to its responsibilities under charitable law.
Stephen Hackney continued in a full-time role as Minister of the church, and continued with the leadership, pastoral and ministry responsibilities, supported by the Church Leadership and I2I Teams.
In addition we also employ Andrea Whitehead on a part time basis as PA to Stephen and Centre Manager.
Wider network
The church has key strategic partnerships with the NG11 Foodbank, two separate charities offering services to the local community and people in need. NG11 Foodbank is a franchise of the Trussell Trust.
Wider Ministry
Stephen continues to take an active role in the city-wide ministry through the NG Network and also attends regular meetings with other city leaders for Prayer, Training and Fellowship days when Covid restrictions allow.
We continue to develop relationships with other denominational churches and ministers within the locality and Stephen attends a monthly meeting with Ministers from other churches in the local community when Covid restrictions allow.
Connected Charities
Assemblies of God
The Assemblies of God in Great Britain and Ireland is the largest Pentecostal Denomination and serves a membership of some 500 churches nationwide and Hope Church Nottingham has been in affiliation with the Denomination since the late 1950's. Each member church is required to donate 1¼ % of their annual income to support the administration and promotion of the Christian faith, nationally and world wide.
NG Church Network
The church Minister, Stephen Hackney continues to hold an active role in the wider NG Church Network and often attends leadership training events with them.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The church has specific policies in respect of the following matters:
Children Protection and Vulnerable Adults Policy Health and Safety Policy Grievance Policy Equal Opportunities Policy
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07968840 (England and Wales)
Registered Charity number
1148243
Page 3
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
Registered office
Hope Centre 2 Southchurch Drive Clifton Nottingham Nottinghamshire NG11 8AR
Trustees
Mr SJ Hackney Chair Mr J T Fahy C S Bromley Mr R W Boot Treasurer Mr P Whitehead (appointed 21/5/20) Mr PA Beswick (appointed 21/5/20)
Company Secretary
M D Holliss
Independent Examiner
David Rice Chartered Certified Accountant David Rice Associates Ltd Chartered Certified Accountants 4 Wellington Circus Nottingham Nottinghamshire NG1 5AL
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Hope Church, Nottingham for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
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 those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 September 2021 and signed on its behalf by:
Stephen Hackney
Stephen Hackney (Sep 30, 2021 11:49 GMT+1)
Mr SJ Hackney - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE CHURCH, NOTTINGHAM
Independent examiner's report to the trustees of Hope Church, Nottingham ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's 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 charity'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
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:
-
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.
David Rice
David Rice (Sep 30, 2021 13:12 GMT+1)
David Rice Chartered Certified Accountant David Rice Associates Ltd Chartered Certified Accountants 4 Wellington Circus Nottingham Nottinghamshire NG1 5AL
29 September 2021
Page 5
HOPE CHURCH, NOTTINGHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 Unrestricted Restricted Total fund funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 119,359 74,208 193,567 Investment income 2 65 - 65 Other income 1,280 13,931 15,211 Total 120,704 88,139 208,843 EXPENDITURE ON Raising funds 34,843 16,470 51,313 Charitable activities General charitable activities 60,114 37,967 98,081 Total 94,957 54,437 149,394 NET INCOME 25,747 33,702 59,449 Transfers between funds 15 (20,076) 20,076 - Net movement in funds 5,671 53,778 59,449 RECONCILIATION OF FUNDS Total funds brought forward 42,052 124,139 166,191 TOTAL FUNDS CARRIED FORWARD 47,723 177,917 225,640 |
2019 Total funds £ 163,391 30 24,786 |
|---|---|
| 188,207 55,055 111,789 |
|
| 166,844 | |
| 21,363 - |
|
| 21,363 144,828 |
|
| 166,191 |
The notes form part of these financial statements
Page 6
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840)
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2020
| Notes FIXED ASSETS Tangible assets 7 Investments 8 CURRENT ASSETS Debtors 9 Cash at bank and in hand CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 11 ACCRUALS AND DEFERRED INCOME 14 NET ASSETS FUNDS 15 Unrestricted funds: General fund Restricted funds: Building fund Foodbank project Young Hope TOTAL FUNDS |
Unrestricted fund £ 21,492 2 21,494 1,394 31,572 32,966 (6,737) 26,229 47,723 - - 47,723 |
Restricted funds £ 906,250 - 906,250 - 98,087 98,087 (3,742) 94,345 1,000,595 (195,530) (627,148) 177,917 |
2020 Total funds £ 927,742 2 927,744 1,394 129,659 131,053 (10,479) 120,574 1,048,318 (195,530) (627,148) 225,640 47,723 90,166 72,677 15,074 177,917 225,640 |
2019 Total funds £ 951,138 2 951,140 2,069 61,110 63,179 (7,009) 56,170 1,007,310 (200,040) (641,079) 166,191 42,052 95,833 14,156 14,150 124,139 166,191 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840)
STATEMENT OF FINANCIAL POSITION - continued 31 DECEMBER 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 September 2021 and were signed on its behalf by:
Stephen Hackney Stephen Hackney (Sep 30, 2021 11:49 GMT+1)
Mr SJ Hackney - Trustee
The notes form part of these financial statements
Page 8
HOPE CHURCH, NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
-
the requirements of Section 7 Statement of Cash Flows;
-
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
-
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
-
the requirement of paragraph 33.7.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Fixtures and fittings - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 9
HOPE CHURCH, NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
2. INVESTMENT INCOME
| Deposit account interest NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' social security Trustees' pension contributions to money purchase schemes |
2020 £ 65 2020 £ 24,770 2020 £ 34,962 415 862 36,239 |
2019 £ 30 2019 £ 25,797 |
|---|---|---|
| 2019 £ 35,144 699 793 |
||
| 36,636 |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| Ministers Support staff (part time) No employees of the charity earned in excess of £60,000 (2019: nil). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 149,578 Investment income 30 Other income 10,595 Total 160,203 EXPENDITURE ON Raising funds 41,993 Charitable activities General charitable activities 71,308 |
2020 1 2 3 Restricted funds £ 13,813 - 14,191 28,004 13,062 40,481 |
2019 1 3 4 Total funds £ 163,391 30 24,786 188,207 55,055 111,789 |
|---|---|---|
continued...
Page 10
HOPE CHURCH, NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds £ £ Total 113,301 53,543 NET INCOME/(EXPENDITURE) 46,902 (25,539) Transfers between funds (32,344) 32,344 Net movement in funds 14,558 6,805 RECONCILIATION OF FUNDS Total funds brought forward 27,494 117,334 TOTAL FUNDS CARRIED FORWARD 42,052 124,139 7. TANGIBLE FIXED ASSETS Fixtures Freehold and property fittings £ £ COST At 1 January 2020 1,015,564 46,941 Additions - 1,374 At 31 December 2020 1,015,564 48,315 DEPRECIATION At 1 January 2020 80,874 30,493 Charge for year 20,312 4,458 At 31 December 2020 101,186 34,951 NET BOOK VALUE At 31 December 2020 914,378 13,364 At 31 December 2019 934,690 16,448 8. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2020 and 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
Total funds £ 166,844 21,363 - 21,363 144,828 166,191 Totals £ 1,062,505 1,374 1,063,879 111,367 24,770 136,137 927,742 951,138 Shares in group undertakings £ 2 2 2 |
Total funds £ |
|---|---|---|
| 166,844 | ||
| 21,363 - |
||
| 21,363 144,828 |
||
| 166,191 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
continued...
Page 11
HOPE CHURCH, NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
8. FIXED ASSET INVESTMENTS - continued
Hope Enterprises (Nottingham) Limited
| Registered office: 2 Southchurch Drive, Clifton, Nottingham, NG11 8AR Nature of business: Operation of charity shops % Class of share: holding Ordinary 100 Hope Café Nottingham Limited Registered office: 2 Southchurch Drive, Clifton, Nottingham, NG11 8AR Nature of business: Operation of a café % Class of share: holding Ordinary 100 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 12) Amounts owed to group undertakings Social security and other taxes Accrued expenses 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 12) 12. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal |
2020 £ 1,394 2020 £ 3,741 1,565 612 4,561 10,479 2020 £ 195,530 2020 £ 3,741 4,002 13,756 177,772 |
2019 £ 2,069 2019 £ 3,536 572 620 2,281 7,009 2019 £ 200,040 |
2019 £ 2,069 |
|
|---|---|---|---|---|
| 2019 £ 3,536 572 620 2,281 |
||||
| 7,009 | ||||
| 2019 £ 3,536 |
||||
| 3,783 | ||||
| 13,003 | ||||
| 183,254 |
continued...
Page 12
HOPE CHURCH, NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
13. SECURED DEBTS
The following secured debts are included within creditors:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Bank loans | 199,271 | 203,576 |
The bank loan is secured by way of a fixed legal charge dated 28 March 2014 in favour of Kingdom Bank Limited, over the freehold property owned by the company, and by a floating charge over the general assets and undertaking of the company.
A further charge dated 28 April 2015 in favour of Big Lottery Fund has been created to secure the grant monies received from them to assist the company in its project of acquiring and refurbishing the Hope Centre. Should the company breach any of the terms relating to the award of the grant then Big Lottery Fund has the right to request repayment of the grant monies, and should that prove to be not possible then they are able to acquire the freehold of the Hope Centre from the company.
14. ACCRUALS AND DEFERRED INCOME
Deferred funding grants
| 2020 | 2019 |
|---|---|
| £ | £ |
| 627,148 | 641,079 |
The charity has received an amount of £696,553 in total of grant funding (of which 93% was from The Big Lottery Fund) towards the cost of the acquisition and refurbishment of the Hope Centre. These amounts have been treated as deferred income, and as the centre is now in use, then of this amount, £13,931 (2019: £14,191) has been amortised and credited to reserves in the year. Cumulative amortisation of the grants received amounts to £69,405 to the end of this accounting period (2019: £55,474)..
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Building fund Foodbank project Young Hope TOTAL FUNDS |
Net movement At 1/1/20 in funds £ £ 42,052 25,747 95,833 (20,985) 14,156 61,991 14,150 (7,304) 124,139 33,702 166,191 59,449 |
Transfers between At funds 31/12/20 £ £ (20,076) 47,723 15,318 90,166 (3,470) 72,677 8,228 15,074 20,076 177,917 - 225,640 |
Transfers between At funds 31/12/20 £ £ (20,076) 47,723 15,318 90,166 (3,470) 72,677 8,228 15,074 20,076 177,917 - 225,640 |
|---|---|---|---|
| 177,917 | |||
| 225,640 |
continued...
Page 13
HOPE CHURCH, NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 120,704 Restricted funds Building fund 16,160 Foodbank project 71,492 Young Hope 487 88,139 TOTAL FUNDS 208,843 Comparatives for movement in funds Net movement At 1/1/19 in funds £ £ Unrestricted funds General fund 27,494 46,902 Restricted funds Building fund 88,280 (19,278) Foodbank project 15,160 2,518 Young Hope 13,894 (8,779) 117,334 (25,539) TOTAL FUNDS 144,828 21,363 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 160,203 Restricted funds Building fund 19,091 Foodbank project 5,749 Young Hope 3,164 28,004 TOTAL FUNDS 188,207 |
Resources Movement expended in funds £ £ (94,957) 25,747 (37,145) (20,985) (9,501) 61,991 (7,791) (7,304) (54,437) 33,702 (149,394) 59,449 Transfers between At funds 31/12/19 £ £ (32,344) 42,052 26,831 95,833 (3,522) 14,156 9,035 14,150 32,344 124,139 - 166,191 Resources Movement expended in funds £ £ (113,301) 46,902 (38,369) (19,278) (3,231) 2,518 (11,943) (8,779) (53,543) (25,539) (166,844) 21,363 |
|---|---|
continued...
Page 14
HOPE CHURCH, NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Building fund Foodbank project Young Hope TOTAL FUNDS |
Net movement At 1/1/19 in funds £ £ 27,494 72,649 88,280 (40,263) 15,160 64,509 13,894 (16,083) 117,334 8,163 144,828 80,812 |
Transfers between At funds 31/12/20 £ £ (52,420) 47,723 42,149 90,166 (6,992) 72,677 17,263 15,074 52,420 177,917 - 225,640 |
Transfers between At funds 31/12/20 £ £ (52,420) 47,723 42,149 90,166 (6,992) 72,677 17,263 15,074 52,420 177,917 - 225,640 |
|---|---|---|---|
| 177,917 | |||
| 225,640 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Building fund Foodbank project Young Hope TOTAL FUNDS |
Incoming resources £ 280,907 35,251 77,241 3,651 116,143 397,050 |
Resources Movement expended in funds £ £ (208,258) 72,649 (75,514) (40,263) (12,732) 64,509 (19,734) (16,083) (107,980) 8,163 (316,238) 80,812 |
Resources Movement expended in funds £ £ (208,258) 72,649 (75,514) (40,263) (12,732) 64,509 (19,734) (16,083) (107,980) 8,163 (316,238) 80,812 |
|---|---|---|---|
| 8,163 | |||
| 80,812 |
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
17. SHARE CAPITAL
The company is a private company limited by guarantee and does not have a share capital. Each member has a liability to the company under the guarantee in the event of it being wound up. The maximum amount guaranteed by each member is £1.
Page 15