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← Hope Churches

2024-12-31-accounts

Hope Churches

Report and Accounts Year ended 31 December 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

HOPE CHURCHES

LEGAL & ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 DECEMBER 2024

ADDRESS FOR CORRESPONDENCE 17 Hunloke Way Malmesbury SN16 9FL GOVERNING DOCUMENT CIO Constitution dated March 2013, as amended May 2019 CHARITY REGISTRATION NUMBER 1151101 TRUSTEES RESPONSIBLE FOR Ian Cambray-Smith MANAGING THE CHARITY Mark Faithfull David Jones Susan Jones NAMES OF ADVISERS EG BANKERS CAF Bank Limited INDEPENDENT EXAMINER Nick Spear ACCA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB

INDEX

Page 1 Legal & Administrative Details Pages 2-4 Trustees' Report Page 5 Independent Examiner's Report Page 6 Receipts and Payments Account Page 7 Statement of Assets & Liabilities Page 8 Notes to the Accounts

Page 1

HOPE CHURCHES

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2024.

Objects of the charity

Hope Churches is a Charitable Incorporated Organisation (reg: 1151101) and is governed by a Constitution dated 6 March 2013 (as amended 26 May 2019). Its charitable purposes are:

Objectives and activities

The aims of the charity are primarily outworked through the operation of Hope Church in the town of Malmesbury, Wiltshire. 2024 was the twelfth year of operation for Hope Church. The Church continued to hold public worship services every Sunday along with a programme of complementary mid-week activities including mid-week bible study and home groups called Centre. The church continues to offer live streams of its services which allows members who are otherwise unable to travel to the church to participate online.

Hope Church has a very practical, inclusive and family friendly approach to all its activities, enabling ordinary people to live out their faith through:

Achievements and performance

Worship, prayer and establishing Services of Christian Worship are held every Sunday morning in the main hall of Malmesbury Town Hall. These are characterised by modern, high energy worship and a very relaxed and child friendly atmosphere.

The service includes bible-based teaching from the Church Pastors and Elders, visiting speakers and members of the congregation. The sermons are recorded and made freely available on the Church website and Apple, Google and Spotify podcasts.

Page 2

Achievements and performance (continued)

All services and events are open to all and free of charge and are funded by the donations of the congregation and friends of Hope Church.

In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

In support of the charity’s objective to relieve need and hardship we launched a new initiative Good News Shoes which, in partnership with a local Clark’s Shoe Shop, provides vouchers for school shoes to primary shool aged children who come from families in need (defined as qualifying for free shool meals) in the town of Malmesbury.

We also started a new summer time initiative during our Adventure Club holiday program to offer free meals to children who attend, covering the food gap during school holidays for children who normally receive free school meals.

Financial review

Total incoming resources for unrestricted funds were £47,270 (2023: £42,246) including Gift Aid claimed and bank interest. There were no restricted funds received. Total payments for the year were £49,241 (2023: £47,960).

The deficit for the year was £1,972 compared to a deficit of £5,714 in 2023. The charity ended the year with cash of £68,628, of which £51,182 was unrestricted. Lead Pastor Mark Faithfull was paid a salary of £7,198 and Lead Pastor Lydia Faithfull was paid a salary of £7,198 in respect of their employment as church pastors. No other Trustee received any remuneration or reimbursement of expenses during the year for acting as a Trustee. Andrea Phillips works part time as Children’s worker, responsible for our regular Sunday School and running holiday craft activities during school holidays.

Reserves policy

The Trustees have set a target for reserves of around six months running costs (£25,000), in order to protect the work of the charity from sudden changes in donation levels and to fund the replacement of any material equipment that should fail. Total reserves at the end of 2024 were £68,628, of which £51,182 (which includes the designated fund referred to below) was available to support the reserves policy.

Mindful of the need to continue to invest in the infrastructure of the growing church and fund the charitable objectives, the Trustees have agreed that they should continue to build the reserves of the charity over the next few years with the aim to purchase a suitable building to support the charity’s activities. No additional funds were specifically designated from unrestricted funds to support this vision as the charity had operated at a budgeted deficit for the year.

Page 3

Volunteers

The majority of the work of the charity is performed by volunteers, including the Pastors and Trustees. It has been gratifying to observe more members of the congregation get involved in practical ways in the running of Sunday services, special events, midweek groups and pastoral care.

Structure, governance and management

The charity is managed and administered by the trustees who give due regard to the spiritual leadership of the church which is provided by the Pastors and Elders. New trustees are appointed by the existing trustees by a majority vote.

The Trustees at the end of 2024 were: Mark Faithfull, Ian Cambray-Smith, David Jones, and Sue Jones who are supported by a book-keeper and treasurer.

The spiritual leadership of the church is provided by the Lead Pastors, Mark and Lydia Faithfull. The Pastors are assisted by the Church Elders: David and Sue Jones.

Responsibilities of trustees

Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.

We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

Approval

This report was approved by the trustees and signed on their behalf by:

Mark Faithfull

_____ Mark Faithfull (Oct 16, 2025 09:05:26 GMT+1) MARK FAITHFULL Oct 16, 2025 Date:___

Page 4

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

HOPE CHURCHES

I report to the trustees on my examination of the accounts of Hope Churches ('the charity') for the year ended 31 December 2024 on pages 6 to 8 following.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in accordance with section 130 of the 2011 Act; or

  2. the accounts do not accord with the accounting records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Nick Spear

Nick Spear (Oct 16, 2025 10:20:30 GMT+1)

Nick Spear ACCA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB

Date: Oct 16, 2025

Page 5

HOPE CHURCHES

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Income receipts
Donations
Gift aid receipts
Bank interest
Total receipts
Payments
2
3
Total payments
Transfers between funds
5
Net movement in funds
Cash funds as at last year end
Cash funds at this year end
A
Net of receipts / (payments) before
Grants
paid
in
relation
to
charitable
activities undertaken by others
Payments
in
relation
to
charitable
activities undertaken directly		 General
Designated
Funds
Funds
£
£
38,769
-
7,325
-
144
-
46,237
-
46,811
-
1,160
-
47,971
-
(1,734)
-
(238)
-
(1,972)
-
33,154
20,000
31,182
20,000
Unrestricted Funds		 Restricted
Funds
£
1,032
-
-
1,032
-
1,270
1,270
(238)
238
-
17,446
17,446		 2024
£
39,801
7,325
144
47,270
46,811
2,430
49,241
(1,972)
-
(1,972)
70,600
68,628		 2023
£
General
Funds
£
38,769
7,325
144
46,237
46,811
1,160
47,971
(1,734)
(238)
(1,972)
33,154
31,182
32,532
9,570
144
42,246
44,030
3,930
47,960
(5,714)
-
(5,714)
76,414
70,600

The notes on page 8 form part of these accounts.

Page 6

HOPE CHURCHES

STATEMENT OF ASSETS AND LIABILITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
A
Cash funds
Cash at bank with immediate access
Petty cash
B
Other monetary assets
Gift aid due to charity
C
Liabilities
Falling due within one year
Trade creditors
PAYE/NI and pensions due
Fee for Independent Examination
Wages payable		 General
Designated
funds
funds
£
£
31,182
20,000
-
-
31,182
20,000
8,105
-
8,105
-
1,952
-
252
-
1,170
-
-
-
3,374
-
Unrestricted Funds		 Restricted
funds
£
17,446
-
17,446
-
-
-
-
-
-
-		 2024
£
68,628
-
68,628
8,105
8,105
1,952
252
1,170
-
3,374		 2023
£
70,600
-
70,600
7,325
7,325
-
131
1,128
200
1,459

D Assets retained for charity's own use

Contents and equipment Value
£
17,089
17,089

The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.

E Guarantees and secured debts

The charity has not given any guarantees and has not provided its assets as security for any liabilities.

The accounts were approved by the trustees and signed on their behalf by:

Mark Faithfull Mark Faithfull (Oct 16, 2025 09:05:26 GMT+1) _____MARK FAITHFULL

Oct 16, 2025 Date:_____

The notes on page 8 form part of these accounts.

Page 7

HOPE CHURCHES

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

2
Payments in relation to charitable activities undertaken directly
Employment costs (see note 4)
Rent & property costs
Insurance
Independent examination
Adminstration & support
Repairs, maintenance & equipment
Other ministry costs
3
Grants paid in relation to charitable activities undertaken by others
Organisations:
SAT-7 Trust
Malmesbury PCC
Other small grants to organisations
Grants to individuals		 Unrestricted Fun
General
funds
£
20,733
14,280
318
1,128
5,248
105
5,000
46,811
-
1,000
160
1,270
2,430		 ds
Designated
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
20,733
14,280
318
1,128
5,248
105
5,000
46,811
-
1,000
160
1,270
2,430		 Total
2023
£
19,888
11,690
265
1,104
4,938
1,277
4,867
44,030
600
750
2,580
-
3,930

4 Transactions with related parties

Mark Faithfull and Lydia Faithfull served as church leaders and were each paid £7,198 (2023: £7,198) for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.

No other payments were made to trustees or persons related to them, except for reimbursement of expenses paid out on behalf of the charity for duties unrelated to their duties as a trustee.

5 Movement of funds

General funds
Designated funds
Building Fund
Restricted funds
Building Fund
Good News Shoes
Total funds		 Opening
balance
£
33,154
20,000
20,000
17,446
-
17,446
70,600		 Receipts
£
46,237
-
-
-
1,032
1,032
47,270		 Payments
£
(47,971)
-
-
-
(1,270)
(1,270)
(49,241)		 Transfers
£
(238)
-
-
-
238
238
-		 Closing
balance
£
31,182
20,000
20,000
17,446
-
17,446
68,628

The designated Building fund represents funds set aside by the trustees to secure a future church building (known as the Home 4 Hope project).

The restricted Building fund was created from donations received to help secure a future church building (known as the Home 4 Hope project). The restricted Good News Shoes fund is to distribute Clarks shoes vouchers to families who are struggling to buy their children's school shoes, and to fund the food for the children's club.

Page 8