REGISTERED COMPANY NUMBER: 08214020 (England and Wales) REGISTERED CHARITY NUMBER: 1149659 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 Ma 2024 for NEW HOPE WORCESTERSHIRE Cooper Parry Advisory Limited CUBO Birmingham 3rd Floor Two Chamberlain Square Birmingham West Midlands 83 3AX NEW HOPE WORCESTERSHIRE Contents of the Finantial Statements for the ear ended 31 Ma 2024 Page Reference and Administrative Detai15 Report of the Trustee5 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 10 NEW HOPE WORCESTERSHIRE Reference and Administrative Details for the ear ended 31 Ma 2024 Trustees J Wilson Director C L Hodgson Company secretary J Wilson Registered office 35 Wells Road Worcester Worcestershire WRS INN Reglstered company number 08214020 (England and Wales) Registered charity number 1149659 Independent examiner Cooper Parry Advisory Limited CUBO Birmingham 3rd Floor Two Chamberlain Square Birmingham West Midlands B3 3AX Page I NEW HOPE WORCESTERSHIRE REGISTERED NUMBER: 08214020 Re for the ort of the Trustees ear ended 31 Ma 2024 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 May 2024. The trustee5 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 IFRS 1021 leffective l January 20191. Objectlves and activitie5 Objectives and aims To provide relief to children and young adults under the age of 19 with a mental andlor physical disability and who are resident in Worcestershire, Herefordshire, Warwickshire or Gloucestershire. to alleviate the effect of disability on such children and their carers andlor families. and to advance the education of such children and to relieve in cases of need, hardship or distress. Achlevement and performance As the company is limited by Guarantee it is prohibited from declaring dividends. Financial review Financial position New Hope Worcestershire has delivered a net surplus of £62412023.. Surplus of £12,941). of which are all unrestricted furbd5. Principal funding sources The principal source of these are our own fundraising efforts from the events we hold throughout the year. We also receive donations from the general public and local businesses. Reserves pollcy At this current time we do not wish to set a reserve amount as we feel this would prevent the smooth running of the charity and prevent purchases being made to the detriment of the children we support. It is anticipated that our growth will increase year on vear and when this happens we will review our reserves policy. Going concern These accounts have been prepared on the going concern basls Future plans We will continue fundraising ourselves. We will seek to work with local businesses to secure their support. We will apply for any grants we may be eligible for. We will also continue to promote the charity so as to attract new supporters. Structure. governance and management Governing document The organisation is a charitable company, limited by guarantee and having no share capital. The charitable company was incorporated on 13 September 2012 and was registered as a charity on 7 November 2012. The charitable company was established under a Memorandum of Association which established its object5 and powers, and it is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Rlsk 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. Thls 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 S0-10-zJ+ and signed on its behalf by.. J Wilson - Trustee Page 2 Inde endent Examiner's Re ort to the Trustees of New Ho e Wortestershire Independent examiner's report to the tru5tee5 of New Hope Worcestershire I'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirement5 of the Companies Act 20061'the 2006 Act'l. 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 carrled out under Section 145 of the Charities Act 20111'the 2011 Act'l. In carrying OLtt my examination I have followed the Directions Biven by the Charity Commission under Section 145151 Ibl 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 accoLbnts 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 IFRS 10211. 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. James Howard Cooper Parry Advisory Limited CUBO Birmingham 3rd Floor Two Chamberlain Square Birmingham West Midlands 83 3AX Date.. Page 3 NEW HOPE WORCESTERSHIRE Statement of Financial Activitie5 for the ear ended 31 Ma 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes Income and endowments from Donations and legacies 8.288 8,288 21,934 Other trading activities 48,148 48,148 22,512 Total 56.436 56.436 44,446 Expenditure on Raising funds 4,233 4,233 4,233 Charitable artivlties Charitable activity 51,579 51.579 27,272 Totsl 55,812 55,812 31,505 NET INCOME 624 624 12.941 Reconciliation of funds Total funds brought forward 13,321 13,321 380 Total funds carried forward 13.945 13,945 13,321 The notes form part of these financial statements Page 4 NEW HOPE WORCESTERSHIRE REGISTERED NUMBER: 08214020 Balance Sheet 31Ma 2024 2024 Total funds 2023 Total fund5 Unrestricted fund Restricted funds Notes Fixed assets Tangible a55et5 5.749 5,749 3,745 Current assets Cash at bank and in hand 69.711 69,711 39,387 Creditors Amounts falling due within one year 161,5151 161,5151 129,8111 Net current assets 8,196 8,196 9,576 Totsl assets less current Ilabilitles 13.945 13,945 13.321 NET A55ETS 13.945 13.945 13,321 Funds Unrestricted fund5 io 13,945 13,321 Total funds 13,945 13,321 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilitie5 for lal ensuring that the charitable company keeps attounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 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 a5 applicable to the charitable company. Ibl 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 were signed on it5 behalf by.. ..io)...io.. IV and J Wi150n - Trustee The notes form part of these financial statements Page 5 NEW HOPE WORCESTERSHIRE Notes to the Financial Statements for the ear ended 31 Ma 2024 Accounting policie5 Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity urbder FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their atcounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republie of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Going concern The trustees continue to adopt the going concern assumption as the basis of preparation of the charity's financial statements. In doing so, the trustees confirm they believe that no material uncertainties exist in the foreseeable future reEarding the charity's ability to continue a5 a going concern. In forming this conclusion, the trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statements. 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. Donations Donations are recognised on a receivable basis where there is certainty of receipt and the amount can be reliably measured. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the tharity and it is probable that they will be fulfilled. Other trading actlvlties Other trading activitie5, including shop takings, are recognised on receipt basis. 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 etonomic 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. Costs of generating funds These are costs incurred in attracting donation income, and those incurred in trading activities that raise funds. Charltable activities These are costs incurred in activities undertaken to further the purposes of the charity and their associated support costs. Governance costs These include the costs attributable to the trust's compliance with constitutional and statutory requirements, including independent examination. Tanglble Ilxed assets Depreciation is provided at the following annual rates in order to write off each asset over it5 estimated useful life. Plant and machinery Motor vehicles 25% on cost 25% on cost Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Page 6 continued.-. NEW HOPE WORCESTERSHIRE Notes to the Financial Statements- continued for the ear ended 31 Ma 2024 Accounting policie5- continued Fund accounting Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when Specif led by the donof 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. Other trading artivities 2024 2023 Fundraising events 48,148 22,512 Raising funds Investment management costs 2024 2023 Rent collection 4,233 4,233 Charitable activities costs Direct Cost5 Support costs Totals Charitable activitv 45,000 6,579 51,579 Net income/(expenditurel Net income/lexpenditurel is stated after chargingllcreditingl: 2024 2023 Depreciation owned assets 3,486 2,112 Trustees. remuneratlon and benefits There were no trustees, remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023. Trustees, expense5 There were no trustees, expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023. Comparatives for the statement of financial activities Unrestricted fund Restricted funds Total funds Income and endowments from Donations and legacies 21,934 21,934 Other trading activities 22,512 22,512 Total 44,446 44,446 Expenditure on Raising funds 4,233 4.233 Page 7 continued... NEW HOPE WORCESTERSHIRE Notes to the Financial Statement5- continued for the ear ended 31 Ma 2024 Comparatlves lor the statement of financial activities- continued Unrestricted fund Restrieted funds Total funds Charltable activities Charitable activity 27,272 27,272 Total 31,505 31,505 NET INCOME 12,941 12,941 Reconciliation of funds Total funds brought forward 380 380 Total funds carried forward 13,321 13,321 Tanglble flxed assets Freehold propertv Plant and machinery Motor vehicles Totals C05t At l June 2023 Additions 224 8,450 8,674 5,490 5,490 At 31 May 2024 224 8.450 5,490 14,164 Depreciation At ljune 2023 Charge for year 4.929 2,113 4.929 3,486 1.373 At 31 May 2024 7.042 1,373 8,415 Net book value At 31 May 2024 224 1.408 4,117 5,749 At 31 May 2023 224 3,521 3.745 Credltors: amounts falllng due wlthin one year 2024 2023 Amounts owed to group undertakings Accrued expenses 60,016 1.499 28,716 1,095 61,515 29,811 Page 8 continued... NEW HOPE WORCESTERSHIRE Notes to the Financial Statement5 - continued for the ear ended 31 Ma 2024 io. Movement in fund5 Net movement in funds At 3115124 At 116123 Unrestricted funds General fund 13,321 624 13,945 TOTAL FUNDS 13,321 624 13,945 Net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 56,436 {55,8121 624 TOTAL FUNDS 56.436 155,812) 624 Comparatives for movement In funds Net movement in funds At 3115123 At 116122 Unrestricted funds General fund 380 12,941 13,321 TOTAL FUNDS 380 12,941 13,321 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrirted funds General fund 44.446 131.5051 12,941 TOTAL FUNDS 44,446 131,5051 12,941 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 3115124 At 116122 Unre5trlcted funds General fund 380 13,565 13,945 TOTAL FUNDS 380 13,565 13,945 Page 9 continued... NEW HOPE WORCESTERSHIRE Notes to the Financial Statements - continued for the ear ended 31 Ma 2024 io. Movement in funds - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows-. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 100.882 187,3171 13,565 TOTAL FUNDS 100,882 187,3171 13,565 ii. Related party disclosures The related party balance is included in the creditor5. Page 10