OpenCharities

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

2021-03-31-accounts

HOPEWORX

Charity number 1151572 Company registration number 07979812

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021

HOPEWORX

CONTENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Legal and Administrative Information 1
Trustees Annual report 2-5
Independent Examination report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes forming part of the financial statements 9-17

HOPEWORX

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2021

Registered company number 07979812
Registered charity number 1151572
Registered Address 33 Brook Road
Rayleigh
Essex
SS6 7XJ
Trustees B Chapman
G Chapman
R Fox
H Prentice
Company Secretary R Fox
Bankers HSBC
48 High Street
Rayleigh
SS6 7JH
Independent Examiner Community360
Winsley's House
High Street
Colchester
Essex
CO1 1UG

1

HOPEWORX

TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees (who are also directors for the purposes of the Companies Act) present their annual report together with the financial statements of the company for the 1 April 2020 to 31 March 2021. The trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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) as amended by Update Bulletin 1 (effective 1 January 2019).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Objectives and Activities

a. Policies and objectives

In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the charity commission relating to public benefit.

The charity's objectives are:

(1) To develop the capacity and skills of the members of the socially and economically disadvantaged community of Essex in such a way that they are better able to identify and help meet their needs and to participate more fully in society.

(2) The relief of financial hardship among people living or working in Essex by providing such persons with goods/services which they could not otherwise afford through lack of means.

b. Activities for achieving objectives

Hopeworx currently has 3 on-going activities to meet our objectives:

Both these projects operate through the valuable contribution made by volunteers with 4841 hours clocked up in the year. Volunteering opportunities are provided to support and empower the volunteers to help them gain confidence, experience and skills to enable them to enter or re-enter the workplace.

c. Main activities undertaken to further the charity's purposes for the public benefit

The public benefit from both of the on-going activities:

2

HOPEWORX

TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

d. Volunteers

The role of volunteers within Hopeworx is crucial in that the project would not be viable without them. With 4841 hours in this year it has enabled us to achieve our objectives.

Volunteers cover all areas from sales desk, cleaning, furniture repairs, assisting with warehouse duties and assisting with deliveries.

Volunteers come from all walks of life and include retired, long-term unemployed, those with mild mental health issues and anyone who has time to spare and wants to give back some time to society.

Our aim is to help volunteers meet their full potential and overcome any issues they may have with confidence or anything else to enable them to enter the market place and find employment.

Achievements and performance

a. Key financial performance indicators

The effect of COVID-19 has been considerable on Hopeworx with several months whereby we have had to close for business apart from supplying Essex County Council with emergency deliveries especially during the latter lockdowns. With Government support through grants and the Job Retention Scheme we have survived this period. However this has obviously had an impact on the key performance indicators distorting the year on year comparisons.

Key performance indicators are as follows:-

• New customers in month as percentage of new customers in the same month the previous year (2021: 58.32%; 2020: 89.96%)

3

HOPEWORX

TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

b. Review of activities

Hopeworx provides Emergency Food Packs to anyone in crisis for whatever reason. These are provided by referrals from social organisations and other churches. During the pandemic the demand for these packs has increased. This year we provided 512 packs feeding 1,277 people for a few days, whereas last year we provided 252 packs feeding 597 people. This is an increase of over 100%. Donations of food and money have risen to mainly meet the demands. Grants have also been awarded to us to help with additional costs of providing this service.

Hopeworx continues to collect surplus food from supermarkets. During this current year this has risen from 2 supermarkets to 4 supermarkets and 1 fast food retailer. This food is collected and distributed to various charities in the area who come and collect this food. It is also used for the Emergency Food Packs where appropriate. This has continued over the pandemic and with the generosity of the public the amount passed on to other charities has risen considerably.

Hopeworx has continued the Reuse Centre in Rayleigh where furniture and electrical appliances are provided to the general public to buy, are sold at a discounted price to those on certain benefits, and given away free of charge to those who find themselves in crisis. Though the pandemic there were months when we were closed to the public following government guidance. During the latter lockdowns we have continued to provide Essex County Council with emergency items electrical appliances and furniture. Otherwise during the lockdowns all staff were furloughed.

The Hopeworx Essential Living Partnership Fund (HELP Fund) is a designated fund for meeting the needs of those who have exhausted all means of providing furniture for themselves and need assistance. This is done through referrals from other organisations or churches. Funding has been attained to boost this fund for future use.

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Structure, governance and management

a. Constitution

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 7 March 2012 .

The company is constituted under a Memorandum of Association dated 7 March 2012 and is a registered charity number 1151572.

The principal object of the company is to provide relief of need within the community.

4

HOPEWORX

TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

b. Method of appointment or election of Trustees

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.

c. Organisational structure and decision making

All policy decisions are made by the Trustees with day-to-day operational decisions made by the Manager.

Plans for future periods

a. Future developments

The Trustees are continually considering what other needs Hopeworx are in a position of meeting either independently or in partnership with other charities in the area.

With the increase in the food hub side of the charity it has been necessary to seek alternative accommodation to store, sort and distribute the food. A room has been rented at the MegaCentre in Rayleigh and the move should take place in May 2021.

Trustees' responsibilities statement

The trustees (who are also directors of Hopeworx for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

................................................ R Fox - Trustee

5

HOPEWORX

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

I report on the accounts of Hopeworx for the year ended 31 March 2021 which are set out on pages 7 to 17.

Respective responsibilities of trustees and examiner

The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s Statement

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I 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.

Shelley-Marie Rudling FMAAT AATQB for and on behalf of: Community360

Winsley’s House, High Street, Colchester, Essex

Date 21/10/2021

6

HOPEWORX

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
Incoming resources
Incoming resources from generated funds
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
6
Total incoming resources
Resources expended
Charitable activities
9
Raising funds
Total resources expended
Net outgoing resources
before transfers
Gross transfers between funds
Net outgoing resources before
other recognised gains/losses
Net movement in funds
Total funds brought forward
Total funds carried forward
17		 Unrestricted
Fund
£
96,595
133,400
638
-
230,634
183,323
-
183,323
47,311
-
47,311
47,311
193,168
240,479		 Designated
Fund
£
7,993
-
-
-
7,993
1,124
-
1,124
6,870
-
6,870
6,870
1,967
8,837		 2021
2020
Total
Total
£
£
104,588
3,234
133,400
190,763
638
1,026
-
1,376
238,627
196,399
184,446
196,081
-
-
184,446
196,081
54,180
318
-
-
54,180
318
47,311
318
195,135
194,817
249,315
195,135

The notes on pages 9 to 17 form part of these accounts.

7

HOPEWORX

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2021

Notes
Fixed assets
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Total current assets
Creditors: amounts falling
16
due within one year
Net current assets/(liabilities)
Total assets less current liabilities
Total net assets
Capital and reserves
Unrestricted funds
17
Designated funds
17
Total Funds		 2021
£
2,216
10,948
10,204
230,569
251,721
247,099
247,099
249,315
240,479
8,837
249,315
(4,622)		 2020
£
1,326
7,666
1,984
190,108
199,758
193,809
193,809
195,135
193,168
1,967
195,135
(5,949)		 2020
£
1,326
7,666
1,984
190,108
199,758
193,809
193,809
195,135
193,168
1,967
195,135
(5,949)
193,809
195,135
193,168
1,967
195,135

For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director's acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies regime.

The directors declare that they have approved the accounts above.

Signed

Date R Fox

8

HOPEWORX NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. General information

Hopeworx is a charitable company, limited by guarantee, registered in England and Wales. Its principle office address is 33 Brook Road, Rayleigh, Essex, SS6 7XJ.

2. Accounting policies

2.1 Basis of the preparation of the accounts

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practise 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Hopeworx meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient eveidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the pproperty in question will not be rewuired to satisfy claims in the estate. Receipt of a legacy muts be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is recevied in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitelment occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

9

HOPEWORX NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.3 Expenditure

Expenditure is recognised once there is legal or constructive obligation to transfer economic benefit to a thrid party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a singl eactivity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have bot been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £50 or more are capitalised and recognised when future economic benefits are probable and the cost of value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Short-term leasehold property - Straight line over the term of the lease
Motor vehicles - 20% straight line
Fixtures and fittings - 25% straight line
Office Equipment - 33% straight line

10

HOPEWORX NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.6 Stocks

Stocks are valued at the lower cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

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

2.9 Liabilities and provision

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.10 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2.12 Fund accounting

General funds are unrestricted funds which are avaliable for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains ans losses are allocated to the appropriate fund.

11

HOPEWORX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3. Incoming from donations and legacies

Unrestricted Designated Total Total
Funds Funds 2021 2020
£ £ £ £
General donations 61,760 7,993 69,753 3,234
CJRS grant income 34,836 - 34,836 -
96,595 7,993 104,588 3,234
**4. ** Income from charitable activities Unrestricted Designated Total Total
Funds Funds 2021 2020
£ £ £ £
Recycled items sales 133,400 - 133,400 190,763
133,400 - 133,400 190,763
**5. ** Investment income Unrestricted Designated Total Total
Funds Funds 2021 2020
£ £ £ £
Local cash 638 - 638 1,026
638 - 638 1,026
**6. ** Other incoming resources Unrestricted Designated Total Total
Funds Funds 2021 2020
£ £ £ £
Other income - - - 1,376
- - - 1,376
**7. ** Analysis of grants Unrestricted Designated Total Total
Funds Funds 2021 2020
£ £ £ £
Grants to individuals - - - 156
- - - 156

8. Analysis of expenditure on charitable activities

Summary by fund type
Recycled items		 Unrestricted
Funds
£
184,446
184,446		 Designated
Funds
£
-
-		 Total
Total
2021
2020
£
£
184,446
67,052
184,446
67,052

12

HOPEWORX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

**9. ** Analysis of expenditure by activities Activities Grant
undertaken funding of Support Total
directly activities costs funds
2021 2021 2021 2021
£ £ £ £
Recycled Items 181,705 1,124 1,618 184,446
181,705 1,124 1,618 184,446
2020 192,924 156 3,001 196,081
192,924 156 3,001 196,081
Grant funding of activities expenditure relates to designated funds.
Analysis of direct costs Total Total
2021 2020
£ £
Staff training 21 122
Wages 93,374 97,746
Rent and rates 20,435 33,505
Insurance 3,378 3,392
Light and heat 2,035 5,462
Motor and travelling expenses 3,237 5,268
Printing, stationery and advertising 3,412 5,851
Telephone 2,384 1,960
Computer costs 1,026 1,289
Legal and professional fees 1,011 833
Repairs and maintenance 1,849 2,108
Bank interest and charges 1,069 131
Sundry expenses 2,851 1,704
Purchases & installation fees 44,654 31,283
Staff & volunteer welfare 969 2,270
181,705 192,924
9 Analysis of expenditure by activities (continued)
Analysis of support costs Total Total
2021 2020
£ £
Depreciation 1,118 1,831
Governance costs 500 1,170
1,618 3,001

13

HOPEWORX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £500 (2020 - £1,150).

11. Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Total
Total
2021
2020
£
£
89,892
93,171
1,473
2,588
2,009
1,987
93,374
97,746

The average number of persons employed by the company during the year was as follows:

Management
Administration
Logistics		 2021
2020
No.
No.
1
1
2
2
3
5
6
8

No employee received remuneration amounting to more than £60,000 in either year.

There was one member of key management personnel in the reporting period, this employee earned a total of £22,994.03.

12. Trustees' remuneration and expenses

During the year, no Trustees recevied any remuneration or other benefits (2020 - £NIL).

During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL).

14

HOPEWORX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. Tangible fixed assets
Short-term
leasehold
Motor
property
vehicles
£
£
Cost or valuation
At 1 April 2020
16,894
15,659
Additions
-
-
At 31 March 2021
16,894
15,659
Depreciation
At 1 April 2020
16,894
15,568
Charge for the year
-
24
At 31 March 2021
16,894
15,592
Net book value
At 31 March 2021
-
67
At 31 March 2020
-
91
14. Stocks
Finished goods and goods for resale
15. Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
16. Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Short-term
leasehold
property
£
16,894
-		 Motor
vehicles
£
15,659
-		 Fixtures and
Office
fittings
Equipment
£
£
5,208
7,243
1,174
834
6,382
8,077
4,441
6,774
619
475
5,060
7,249
1,322
828
767
469
2021
£
10,948
10,948
2021
£
5,333
-
4,871
10,204
2021
£
1,655
2,047
-
921
4,622		 Fixtures and
Office
fittings
Equipment
£
£
5,208
7,243
1,174
834
6,382
8,077
4,441
6,774
619
475
5,060
7,249
1,322
828
767
469
2021
£
10,948
10,948
2021
£
5,333
-
4,871
10,204
2021
£
1,655
2,047
-
921
4,622		 Total
£
45,004
2,008
16,894
16,894
-		 15,659
15,568
24		 6,382
4,441
619		 8,077
6,774
475		 47,012
43,677
1,119
16,894 15,592 5,060 7,249 44,796
- 67 1,322 828 2,216
- 91 767 469 1,327
2021
£
10,948		 2020
£
7,666
10,948 7,666
2021
£
5,333
-
4,871		 2020
£
536
72
1,376
10,204 1,984
2021
£
1,655
2,047
-
921		 2020
£
1,998
1,286
72
2,593
4,622 5,949

15

HOPEWORX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds
Current year
Unrestricted funds
Designated funds
H.E.L.P. funds
General funds
General funds
Total unrestricted funds
Prior year
Unrestricted funds
Designated funds
H.E.L.P. funds
General funds
General funds
Total unrestricted funds
18. Summary of funds
Current year
Designated funds
General funds
Total unrestricted funds
Prior year
Designated funds
General funds
Total unrestricted funds		 Balance at
01/04/2020
£
1,967		 Income
£
7,994		 Balance at
Expenditure
31/03/2021
£
£
(1,124)
8,837
(183,323)
240,479
(184,446)
249,315
Balance at
Expenditure
31/03/2020
£
£
(156)
1,967
(195,925)
193,168
(196,081)
195,135
Balance at
Expenditure
31/03/2021
£
£
(1,124)
8,837
(183,323)
240,479
(184,446)
249,315
Balance at
Expenditure
31/03/2020
£
£
(156)
1,967
(195,925)
193,168
(196,081)
195,135
193,168 230,634
195,135 238,628
Balance at
01/04/2019
£
1,674		 Income
£
449
193,143 195,950
194,817 196,399
Balance at
01/04/2020
£
1,967
193,168		 Income
£
7,994
230,634
195,135 238,628
Balance at
01/04/2019
£
1,674
193,143		 Income
£
449
195,950
194,817 196,399

16

HOPEWORX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Analysis of net assets between funds
Current period
Tangible fixed assets
Current assets
Creditors due within one year
Total
Prior period
Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2021
£
2,216
251,721
(4,622)		 Total
funds
2021
£
2,216
251,721
(4,622)
249,315 249,315
Unrestricted
funds
2021
£
1,326
199,758
(5,949)		 Total
funds
2021
£
1,326
199,758
(5,949)
195,135 195,135

20. Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,009 (2020 - £1,987). Contributions totalling £Nil (2020 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

21. Operating lease commitments

At 31 March 2021 the company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2021
£
28,000
2,333		 2020
£
28,000
30,333
30,333 58,333

22. Related party transactions

During the year, J Fox, the wife of the Trustee R Fox, received £22,994.03 in remuneration (2020 - £23,053). Charity Commission consent to pay this remuneration has been received.

There have been no other related party transactions that require disclosure.

17