**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:
1. Voluntary contributions of its members
2. Grants
3. Gift Aid from Hope Enterprises Nottingham
4. 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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