Hopeworx
Company Number 07979812
Charity Number 1151572
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

HOPEWORX
CONTENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Legal and Administrative Information
Trustees Annual report
Independent Examination report
Statement of Financial Activities
Balance Sheet
Notes forming part of the financial statements
9-17

HOPEWORX
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
Registered company number
07979812
Registered charity number
1151572
Registered Address
33 Brook Road
Rayleigh
Essex
SS6 7XJ
Trustees
B Chapman
G Chapman
RFOX
H Prentice
M Ward
W Ward
Company Secretary
RFOX
Bankers
HSBC
48 High Street
Rayleigh
SS6 7JH
Independent Examiner
Community360
Winsley's House
High Street
Colchester
Essex
C01 1UG

HOPEWORX
TRUSTEE ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
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 2022 to 31
March 2023. 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 charitys 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 goodslservices which they could not othemise afford through lack of
means.
b. Activities for achieving objectives
Hopeworx currently has 3 on-going activities to meet our objectives..
Supply of Emergency Food Packs
Channelling surplus food to other charities and organisations in the area
Running of a furniture re-use project
All of these projects operate through the valuable contribution made by volunteers with 4120
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..
Supply of Emergency Food Packs, rneeting the needs of those in crisis with food
Providing surplus food to other charities, for these charities to meet their charitable
purposes through the use of this food
Running of a furniture re-use project, meeting needs by providing affordable fumrture
and appliances

HOPEWORX
TRUSTEE ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
d. Volunteers
The role of volunteers within Hopeworx is crucial in that the project would not be viable
without them. With 4120 hours in this year it has enabled us to achieve our objectives.
Volunteers cover all areas from sales desk, cleaning, fumiture 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 key effect of COVID-19 on last yeals figures key performance indicators may distort the
year on year comparisons.
Key performance indicators are as follows:_
Percentage of the number of special invoices (free of charge, discounted or supplied to
Essex County Council) against the number of invoices in a month (2024= 15.11 /
2023.. 22.600/0.
Percentage of the value of special invoices against the total of invoices in month
(2024: 40.04 /,' 2023: 52.51 %
Sales per working day {2024: £874; 2023.. £1,204}
Gross profit as a percentage of total sales excluding donations (2024: 77.14 % , 2023: 69.25 %
Volunteer hours as a percentage of staff hour in month (2024: 42.220/0, 2023: 53.60Q/o)
Staff and volunteer costs as a percentage of gross profit excluding donations (2024= 65.350/0,
2023: 47.62°/0)
New customers in month as percentage of new customers in the same month the previous
year (2024." 94.78 %' 2023: 100.14 % )

HOPEWORX
TRUSTEE ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
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 651 packs feeding 1,860
people for up to a week, whereas last year we provided 530 packs feeding 1,590 people.
The higher demand remains in place. Donations of food and money continue to mainly
meet the demands. Grants have also been awarded to us to help with the additional costs
of providing this service.
Hopeworx continues to collect surplus food from 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.
Hopeworx has continued the Reuse centre in Rayleigh where fumiture and electrical
appliances are provided to the general public lo 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.
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.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the
company has adequate reSoUr￿S 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.
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.

HOPEWORX
TRUSTEE ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
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.
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=
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP.
make judgments and accounting 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 operation.
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:
io. Z024
R Fox - Trustee
Date

HOPEWORX
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
I report on the accounts of Hopeworx for the year ended 31 st March 2024 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. The charities
gross income exceeded £250,000 and l am qualified to undertake the examination by
being a qualified member of Association of Accounting Technicians.
It is my responsibility to..
Examine the accounts under section 145 of the Charities Act,
To follow the procedures laid down in the General Directions given by the Charity
Commissioners (under section 145(5)(b) of the Charities Act, and
To state whether particular matters have come to my attention.
Basis of independent examiner's Ststement
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..
the accounting records were not kept in accordance with section 130 of the
Charities Act. or
the accounts did not accord with the accounting records., or
the accounts did not comply with the applicable requirements concerning the
form and content of the accounts set out in the Charities (Accounts and
Reports) Regulations 2008 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.
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 FMA4T AATQB for and on behalf of:
Community360
Winsley's House, High Street, Colchester, Essex
Date
0911212024

HOPEWORX
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted Designated 2024
Fund
Fund
Fund
Total
2023
Total
Note
Incoming resources
Incoming resources from generated funds
Donations and legacies
Charitable activtties
Investment income
6,851
266,973
3,942
277.765
6,851
274,378
4,204
285,433
9.595
359,227
1,006
369,828
7,405
262
Total incoming resources
7,405
262
Resources expended
Charitable activities
Total resources expended
280,286
280.286
7,405
7,405
1.556 289.247
1,556
289,247
323,606
323,606
Net outgoing resources before
other recognised gainsllosses
{2,520)
(1,295> {3,814)
46,221
Profit on sale of assets
2,929
2,929
Net movement in funds
409
(1,295)
(886)
46,221
Total funds brought fO￿ard
329,056
15,421
344,477
298,256
Total funds carried forward
17
329,465
14,126
343,591
344,477
The notes on pages 9 to 17 form part of these accounts.

HOPEWORX
BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Fixed assets
13
57,701
7,594
Current assets
stocks
Deblors
Cash at bank and in hand
14
15
8,968
3,667
277,626
290.261
11,832
2,575
326,863
341,269
Total current assets
c￿dItOrs. amounts falling
due wlthin one year
Net current assetsllliabilities)
16
14,372)
{4,386)
285,890
336,883
Total assets less current liabilities
343,591
344,477
Total net assets
343,591
344,477
Capital and reserves
Unrestricted funds
17
329,465
329,056
Restricted funds
Designated funds
14,126
15,421
Total Funds
343,591
344,477
For the year ended 31 March 2024 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
companies subject to small companies regime.
The directors deGlare that they have approved the accounts above.
Signed
Date
izfr, 10 Z.024
RFOX

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 20191, 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.
Cash flow
The financial statements do not include a cash flow statement because the charity. as a
small reporting entity, is exempt from the requirement to prepare such a statement under
Financial Reporting Standard 1 "Cash flow statements..
2.2 Income
All income is recognis8d 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. Evidenc8 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 Balan￿ 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.

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 cosis and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity 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
companws 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
commitment. but not accrued as expenditure.
All expenditure is net of VAT as the charity is registered for 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 notrfication of the interest paid or payable by the
institution with whom the funds are deposited.
2.5 Tangible fixed assets and depreciatlon
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 estimat8d useful lives.
Depreciation is provided on the following bases..
Short-term leasehold propety
Motor vehicles
Fixtures and fittings
Office Equipment
Straight line over the temi of the lease
20 % straight line
25 % straight line
33°/o Straight line
10

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.6 Stocks
stocks are valued at the lower of 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 Llabilities and provislon
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 anticipales 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.
Restricted income funds are those donated for use in a particular area or for specific
purposes. the use of which is restricted to that area or purpose.

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
3. Incoming from donations and legacies
Unrestricted Restricted Designated
Funds
Funds
Funds
Total
2024
Total
2023
General donations
Gift aid reclaimed
CJRS grant income
6,543
308
6,543
308
9,595
6,851
6,851
9,595
2023
9.595
9,595
4. Income from charitable activities
Unrestricted Restricted Designated
Funds
Funds
Funds
Total
2024
Total
2023
Recycled items sales
Grants
266,973
266,973
7,405
274,378
353,677
5,550
359,227
7,405
7,405
266.973
2023
353,677
5,550
359.227
5. Investment income
Unrestricted Restricted Designated
Funds
Funds
Funds
Total
2024
Total
2023
Local cash
3,942
3,942
262
4,204
4.204
1,006
1,006
262
2023
950
56
1,006
9. Analysis of expenditure by activities
Activities
Grant
undertaken funding of Support
directly
activities
costs
2024
2024
2024
Total
funds
2024
Recycled Items
275,793
275,793
1,556
1.556
11.898
11,898
289,247
289,247
12

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Grant funding of activities expenditure reSates to designated funds.
Unrestricted Restricted Designated
Funds
Funds
Funds
2024
2024
2024
Analysis of direct costs
Total
2024
Total
2023
Staff training
Wages
Rent and rates
Insuran
Light and heat
Motor and travelling expenses
Printing, stationery and advertisinc
Telephone
Computer costs
Website costs
Legal and professional fees
Repairs and maintenance
Sundry expenses
Purchases & installation fees
Staff & volunteer welfare
180
140,611
35,263
3,904
6,207
5,479
180
140,611
38,449
3,904
6,207
5.479
1,185
126.060
36,353
3,635
3,423
7,747
4,037
2,065
1,572
1,400
580
6,815
10,100
109,765
2,759
317,495
3,186
2,658
1,569
1,883
935
3,423
4,308
58,437
2,548
268,388
2,658
1,569
1.883
935
3,423
4,308
62,656
2,548
275,793
4,219
7,405
9 Analysis of expenditure by activlties (continued)
Analysis of support costs
Total
2024
Total
2023
Depreciation
Bank charges
Governance costs
8,305
3,092
501
1,662
2,970
417
5,049
11,898
10. Independent examinerfs remuneration
The independent examiner's remun8ration amounts to an independent examiner fee of £500
including VAT (2022 - £500).
11. Staff costs
Total
2024
Total
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
132,967
4,556
3,088
140,611
119,489
4,149
2,422
126,060
13

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The average number of persons employed by the company during the year was as follows..
2024
No.
203
No.
Management
Administration
Logistics
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 £31,967 (2022: £28,653).
12. Trustees. remuneration and expenses
During the year, no trustees recevied any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no trustee expenses have been incurred (2023- £NIL).
13. Tangible fixed assets
Short-term
leasehold
property
Motor
vehicles
Fixtures and
fittings
Office
Equiprnent
Total
Cost or valuation
At 1 April 2023
Additions
Disposals
At 31 March 2024
21,444
16,159
56.448
(15.518)
57,089
6,170
1,146
8,448
890
(346)
8,992
52,221
58,484
115,864)
94,841
21.444
7,316
Dapreciation
At 1 April 2023
Charge for the year
Disposals
At 31 March 2024
17.122
912
15.659
5,701
(15.518)
5,842
4,010
1,132
7,836
561
(275)
8,122
44,627
8,306
(15,793)
52,933
18,034
5,142
Net book valu8
At 31 March 2024
3,410
51,248
2,174
870
57,701
At 31 March 2023
4,322
500
2,160
612
7,594
14

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Stocks
2024
2023
Finished goods and goods for resale
8,968
11,832
8,968
11,832
15. Debtors
2024
2023
Due within one year
Trade debtors
Prepayments and accrued income
1,774
1,893
360
2.215
3,667
2.575
16. Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Accruals and deferred income
499
3,206
667
852
3,117
417
4,372
4.386
17. Statement of funds
Balance at
0110412023
Balance at
Expenditure Transfers 3110312024
Income
Current year
Unrestricted funds
Designated funds
H.E.L.P. funds
15,421
262
(1,556)
{1,556)
14,126
Total designated funds
15,421
262
14,126
General funds
General funds
329,056
280,694
(280,286)
329.465
Total unrestricted funds
329,056
280,694
(280,286
329.465
Restricted funds
Jeanne Marie Gunn Trust
Neighbourly- Lidl Fund
Neighbourly- Sainsburys
EALC - Food Support
Total restricted funds
2,000
1,305
500
3,600
(2,000)
(1,305}
(500)
(3,600)
(7,405)
7.405
Total funds
344,477
288.361
(289,247)
343,591
15

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statemenf of funds (continued)
Balance at
0110412022 Income
Balance at
Expenditure Transfers 3110312023
Prior year
Unrestricted funds
Designated funds
H.E.L.P. funds
16,427
56
1,062
15,421
Total designated funds
16,427
56
(1,062)
15,421
General funds
General funds
281,828
364,221
316,994
329,056
Total unrestricted funds
281,828
364,221
(316,994)
329,056
Restricted funds
Jeanne Marie Gunn Trust
Neighbourly- Lidl Fund
EALC - Food Support
Total restrlcted funds
1.000
200
4,350
11,000>
(200>
14.350>
{5.550)
5,550
Total funds
298,255
369,827
{323.606)
344,477
19. Analysis of net assets between funds
Unrestricted Restricted Designated
funds
funds
funds
2024
2024
2024
Total
funds
2024
Current period
Tangible fixed assets
Current assets
Creditors due within one year
57,701
276,135
{4,372}
329,464
57,701
290,261
{4,372)
343,591
14,126
Totsl
14,126
Prior period
Unrestricted Restricted Designated
funds
funds
funds
2023
2023
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
12,798
325,848
{4,386)
334,260
12,798
341,269
(4,386)
349,682
15,421
Total
15,421
16

HOPEWORX
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 £3,088 (2023 - £2,422). Contributions totalling £Nil (2023 - £Nil)
were payable to the fund at the balan￿ sheet date and are included in creditors.
21. Operating lease commitments
At 31 March 2024 the company had commitments to make future minimum lease
payments under non-cancell8ble operating leases as follows:
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
30,594
110.844
33,292
115,063
141,438
148,354
22. Related party transactions
During the year. J Fox, the wife of the Trustee R Fox, received £31,967.43 in remuneration
(2023 - £28,653). Charity Commission consent to pay this remuneration has been
received.
There have been no other related party transactions that require disclosure.
17