Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Company Number 07979812 Charity Number 1151572 ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 pg.1
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Contents For the year ended 31 March 2025 Page Legal and Administrative information Trustees AnnuaL Report Independent Examination Report 10-11 Statement of financial activities 12 Balance sheet 13 Notes forming part of financial statements 14-23 pg.2
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Legal and Administrative information For the year ended 31 March 2025 Registered company number 07979812 Registered charity number 1151572 Registered address 33 Brook Road Rayleigh Essex SS6 7KJ Trustees up to 25 Feb 2025 B Chapman G Chapman RFOX H Prentice M Ward Wward Trustees from Feb 25 Elaine Heyworth Mark Branch Dominic Micklewright Company secretary R Fox (up to Feb 2025) Beverleywhittaker (Feb 251 Bankers HSBC 48 High Street Rayleigh Essex SS6 7JH Independent Examiners Saffery LLP 10 Wellington Place Leeds LS14AP pg.3
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Trustees Annual Report For the year ended 31 March 2025 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 2024 to 31 March 2025 reporting period. The trustees confirm that the Annual Report and financial statements of the company complywith the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice {SORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Effective 1 January 20191 as amended by update bulletin 1. Objectives & Activities for the period Policies and Objectives In setting objectives and planning for activities the trustees have given due consideration to general guidance by the Charity Commission relating to public benefit. The charity's objectives are: 11) To develop the capacity and skills of the members of the socially and economically disadvantaged community of Essex in such a waythat they are better abLe to help 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 otherwise afford through lack of means. Activities for achieving objectives Hopeworx carried out 3 main activities to meet our objectives in the year: Running 8 furniture re-use project Supply of emergency food packs Channelling surplus food to other charities and organisations in the area The activities have continued post year-end within The Saint Vincent de Paul Society (England & Wales}. All of these projects operate through the valuable contribution made by 6 volunteers with 2805 hours clocked up in the year (2024-4120). Volunteering opportunities are provided to support and empowerthe volunteers to help them gain confidence, experience and skills to enable them to enter or re-enter the workplace. pg.4
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Trustees Annual Report For the year ended 31 March 2025 Main activities undertaken to furtherthe charity's purposes for the public benefit The public benefit from on-going activities included: Running of a furniture re-use project, meeting needs by providing affordable furniture and appLiances to those in the local area and reducing18ndfiLI Supply of Emergency Food Packs, meetingthe needs of those in crisis with food poverty Providing surplus food to other charities and organisations, for these charities to meet their charitable purposes through the provision of this food and to avoid excess waste or landfill Volunteers The role of volunteers within Hopeworx is crucial in that the project would not be viable without them. With 280512024-41201 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 in the future. Achievements and performance a. Key financial 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 was 16.34 % compared to 15.11 Oh in 2024. Percentage of the value of speciaL invoices against the total of invoices in a month was 41.17 % compared to 40.04 % in 2024. Sales per working day was £926.73 compared to £874 in 2024. pg.5
Hopeworx
Trustees Annual Report
For the year ended 31 March 2025
77.14% in 2024.
• Volunteer hours as a percentage of sta� hour in month 27.3%, compared to 42.22% in 2024.
compared to 65.35% in 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. Post pandemic the demand continues for these packs. This year we provided 722 packs feeding 2231 people for up to a week, compared to 530 packs feeding 1,590 people in 2024.
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 and organisations 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 furniture and electrical appliances are provided to the general public to buy or 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.
pg. 6
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Trustees Annual Report For the year ended 31 March 2025 Financial review a. Going concern The Charity's assets and liabilities were donated to The Saint Vincent de Paul Society (England and Wales) on 1 April 2025 and therefore these accounts have been prepared on a basis other than going concern. No materi8L adjustments arose as a result of ceasing to apply the going concern basis. 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. c. Organisational structure and decision making ALI policy decisions are made bythe trustees with day-to-day operational decisions made by the employed Project Manager. Plans for future periods a. Future developments At a trustees meeting in October 2024 the trustees discussed the future of Hopeworx and their ongoing roles as some of the trustees were looking to retire in 2025. They expressed a desire to hand the charity, including all its assets and activities over to an organisation with the same ethos as them and they identified a potential organisation they felt would be a good fit. This organisation was the St Vincent de Paul Society (England & Wales) (also known as the SVP). already a registered charity under registration number 1053992 and a company limited by guarantee under 3174679. pg.7
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Trustees Annual Report For the year ended 31 March 2025 Hopeworxthen approached the SVP 2nd discussions commenced about transferring all assets over to the charity in the newfinancial year of 2025. The SVP sought legal advice and took a proposal to their Board of Trustees in November 2024, which was duly approved. A letter of commitment was sent to Hopeworx in December 2024, setting out the SVP'S intentions to merge the operations of Hopeworx and to continue to operate the Hopeworx projects in the same manner and with the same employee team and volunteers. In terms of the structure of the merger. it was proposed that: the current trustees of Hopeworx, appointthree trustees of SVP 8S trustees of Hopeworx; the current trustees of Hopeworx wouLd then step down. the new trustees of Hopeworx would continue to operate Hopeworx within its current structure. the newtrustees of Hopeworx. would then engage with the SVP in a restructure, bywhich, the assets and undertakings operated by Hopeworx would transfer to the SVP corporate the current Hopeworx corporate entity would remain registered at both Companies House and the Charity Commission for England and Wales, but as a dormant entity, for the following reasons: to ensure no other entity is registered in the name Hopeworx. o to ensure that any legacies which have been included in Wills where the individuals are still livingwill pass to Hopeworx and subsequently to SVP. SVP WILI continue to operate the undertaking currently known as Hopeworxwithin the SVP Essex operations. any assets transferred from Hopeworx to SVP WILL be treated as restricted funds. within the current objects of Hopeworx, i.e. they will only be used for the charitable purposes in Essex and will not be used within the wider SVP; any new assets created by Hopeworx will be available for use within the wider SVP. however. SVP will continue to use these as far as possible in respect of the seNices to the community in Essex; SVP will register a trade mark for"Hopeworx" for the activities undertaken to protect the name and to ensure that the name can be used in the future. SVP will operate the Hopeworx services as St Vincent de Paul Society Hopeworx for a minim of three years following the transfer.All of the above was agreed by the trustees and all preparatory work was completed on the 31 March 2025, with the exception of the trade mark registration which is yet to be completed. The new trustees who took over from the exiting trustee on 25 February 2025 are listed below: Elaine Heyworth Mark Branch Dominic Micklewright pg.8
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Trustees Annual Report For the year ended 31 March 2025 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 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 these financial statements, the trustees are required to: select suitable accounting policies and then applythem consistently" observe the methods and principles in the Charities SORP IFRS102}' make judgments and accounting estimates that are reasonable and prudent. state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements. and 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 proper 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 (insert date) and signed on their behalf by: Skjned by.. A787B5447BFD47D.. Signed Mark Branch, Trustee Date: 27 January 2026 pg.9
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Independent Examiners Report For the year ended 31 March 2025 Independent examiner's report to the trustees of Hopeworx I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Respective responsibilities of trustees and examiner As the charity's trustees of the Company (and also its directors for the purposes of company lawl 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'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515) (b) of the 2011 Act. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 consideration 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 no opinion is given as to whether the accounts present a'true and fair view. and the report is limited to those matters set out in the statement below. Independent examiner's statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l a member of the Institute of Chartered Accountants (England and Wales} which is one of the listed bodies. 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 pg. 10
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Independent Examiners Report For the year ended 31 March 2025 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 fairview, 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). Other matters We draw attention to note 1 of the financial statements which describes how the Charity has transferred its operations to the Saint Vincent de Paul Society (Engnd and Wales} subsequent to the year end, and as such the Trustees do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly. the financial statements have been prepared on a basis other than going concern as described in note 1. 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. Signed: 28 January 2026 Name: SallyAppleton Institute of Chartered Accountants (England 2nd Wales) Saffery LLP 10 Wellington Place Leeds LS14AP pg.11
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Statement of Financial Activities For the year ended 31 March 2025 Unrestiicted Fund Restricted Fund Designated Fund 2025 Total 2024 Total Note Incomingresources Incomlng resouresyrom generated funds Donations and legacies Charitable activities Investment incotne 5,941 281,365 5,782 5,941 288,875 6,047 300.863 6,851 274,378 4,204 285.433 7.510 266 Total Incomlng resources 7.510 Resources expènded Charitable aciiviiies Totsl resources expended 288,982 288.982 7,510 7.510 575 575 297,067 297,067 289,247 289,247 Net incominglloutgoingi resources before other recognlsed galnsllosses 4.106 13,8141 Profit on sale of assets 2,929 Nèt movemÈnt in funds 4.1( 13091 18861 Totslfunds brought loard 329,465 14.126 343,591 344,477 Totslfunds carrled fon¥ard 17 333.571 13,817 347.388 343.591 The notes on pages 14 to 23 form part of these accounts. pg. 12
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Balance Sheet For the year ended 31 March 2025 2025 2024 Notes Flxed assets io 44,078 57,701 Current assets Stocks Debtors Cash at bank and in hand Totalcurrent assets li 12 10.179 9.816 286.057 306.052 8.968 3.667 277.626 290.261 Credltors- amounts falllngdue wlthln oneyear 13 12,7441 14,3721 Net current assetsllliabilitiesl 303.309 285,890 Totalassets Less current liabilities 347.388 343,591 Total net assets 347,388 343.591 Capitaland reserve5 Unrestricted funds 14&15 333.571 329,465 Restricted fLJnds Designated funds 13.818 14.126 Totalfunds 347.388 343.591 For the year ended 31 March 2025 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 ofthe Companies Act 2006. The directors acknowledge their responsibility for complyingwith the requirements of the Act with respect to accounting records and their 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. SWAd ty.. Signed: Mark Branch, Trustee A787e$4478F047D.. Date: 27 January 2026 pg. 13
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 General information Hopeworx is a charitable company, limited by guarantee, registered in England and Wales. Its principle off ice address is 33 Brook Road, Rayleigh, Essex, SS6 7XJ. Accounting policies 2.1 Basis of the preparation of the accounts The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 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 1021 {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 ortrans8ction value unless otherwise stated in the relevant accounting policy. Going Concern The Charity's assets and liabilities were donated to The Saint Vincent de Paul Society {England and Wales) on 1 April 2025 and therefore these accounts have been prepared on a basis other than going concern. No material adjustments arose as a result of ceasing to apply the going concern basis. 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 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 evidence 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 property in question WIIL not be required to satisfy claims in the estate. Receipt of 2 legacy must 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. pg. 14
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 2. Accounting policies (continued) Grants are included in the Statement of FinancialActivities 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 received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement 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. 2.3 Expenditure Expenditure is recognised once there is legal or constructive obligation to transfer economic benefit to a third 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 activlty. 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 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 otthe asset's use. Expenditure on raising funds includes all expenditure incurred bythe company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non- charitabletrading. Expenditure on charitable activities is incurred on directLy undertakingthe 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 net of VAT as the charity is registered for VAT. pg. 15
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 2. Accounting policies (continued) 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 overthe term of the lease Motor vehicles- 20¥0 Straight line Fixtures and fittings- 25% straight line Office Equipment- 33% straight line 2.6 Stocks Stock relates to bought-in goods and is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 2.7 Debtors Trade and other debtors are recognised at the settlement amount after anytrade discount offered. Prepayments are valued at the amount prepaid net of anytrade 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. pg. 16
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 2. Accounting policies (continued) Liabilities are recognised at the amountthat 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 usingthe effective interest method. 2.11 Employee benefits and Pensions The cost of short-term employee benefits are recognised as a liability and an expense. 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 available 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 and losses are aLlocated to the appropriate fund. Restricted income funds are those donated for use in 8 particular are8 orfor specific purposes, the use of which is restricted to that area or purpose. pg. 17
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 3. IncomitroM donatlonsand legacles UNestricted Funds Restricted Funds Desiated Funds Total 2025 Total 2024 Generaldonation5 Giftaid reciairned 5,818 123 5.941 5,818 123 5,941 308 6,851 2024 6.851 6,851 4. Incomefrom charltable act[tIeS Umesiylcied Funds Re¢re Funds Deslgn*ed Funds TaL 2025 Trfal 2024 Recycled items sales Grants 281.365 281.365 7.510 288,875 266.973 7.405 274,378 7.510 7,510 2Bi,365 2024 266.973 274378 5. Investment Income Unrestricted Funds Restricted Funds Designated Funds TotaL 2025 Total 2024 Localca5h 5,782 5.782 266 6,047 6.047 4,204 4204 266 2024 262 4204 6. Analysisof expenditure bya1¥111es Activities undertaken Grant fundingof activities Support Costs Total directly 2025 Funds 2025 2025 Recycled itsms 278.681 278,681 575 575 17,811 17,811 297,067 297,067 pg. 18
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 6. Analysis of expenditure by activities (continued) Unrestricted Funds Restricted Funds Designated Funds Total 2025 Total 2024 Analysi$ of direci costs Staff training Wages Rentand rates Insurance ghtand heat Motor and traveLiingexpenses Printingstalioneryand advert15ing Telephone Computer costs Website costs Legaland professionalfees Repairs and maintenance Sundryexpenses Purchases & InstaLiaiion fees 300 137.863 38.7 300 137,863 40,400 180 140,611 38,449 1.403 7,129 4,666 1.627 3,047 1,919 2,144 856 ,207 5,479 1.627 3.047 1.919 2,144 856 2,658 1,569 1,883 935 2,737 4,029 64,851 3,210 278,681 3,423 4,308 62,656 2,548 275,793 4.029 58.744 3.210 271,171 6.107 Staff & volunteerwellare 7,510 Total 2025 Total 2024 Analysi$ of supportcosts Depreciation Bankcharges Goveinance costs 13,623 3,409 779 17.811 8,305 3,092 501 11.898 7. Independent examiner's remuneration The independent examiner's remuneration amountsto an independent examiner fee of £l.000 includingvAT12024: £5001. pg. 19
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 B. Staff costs Total 2025 Total 2024 Wage5and salaries Socialsecurityc05ts Contribution to defined cantributioncontritKrtion schemes 130.252 4,162 3.449 137,863 132,967 4,556 3,088 140,611 The average numberofpers0nsempl0d byihe companyduringthe yearwas as foll(Ms: 2024 No. Management Administration LoElStIcs No employee received remunerakn.on amounts.ngto morethan £60.0 in ertheryear. Therewa50ne rnember ofkeymanagementinthe rer[lperI0d. this emttye earneda totslofg29.77812024: 231.9671 9. Trustees. remuneration and expenses Duringthe year. notrustees recewed any remunerationor otherbenelits12024: £NILI Duiingthe year ended 31 March2025. notrusleeexpenses have been incurred12024= £NILI 10. TanObLefixed assets ShLWt-temi leasehold Motor vehlcies Fixtures and ttlngs Olfice Equlpmem property Trfal Cosi orvalu*ion At l Apri12024 Aditions Disposals Al 31 March2025 21.444 57.089 7.316 8,992 94.841 57,089 7,316 8,992 94,841 Depreclatlon At l Apri12024 Charge lor the year Disposals Al 31 March2025 18.034 912 5.842 11.400 5.142 8,122 404 37.140 13.623 17.242 8,526 50,763 Net bookvalue At31 March 2025 39.847 1.267 44,078 At31 March 2024 3.410 51.248 2.174 870 57.701 pg. 20
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 11. Stock 2025 2024 Finished goods and goodslor resale 10.179 10,179 8.968 12. Debiors 2025 2024 Duewlthln oneyear Trade debtors Prepayments and accrued income 7,676 2.140 9.81$ 1,714 1,893 3,667 13. Creditors: Amouritsfalbngduewithin oneyear 2025 2024 Trade creditors Other taxation and socialsecurity Accurats and deferred incorne 83 1.660 1.000 1744 3.206 667 4,372 Statement offunds Balanceat 0110412024 Balance at 3110312025 Incorne Expenditure Transfers Currentyear unrestried funds Designated funds H.E.L.P. funds Totaldesignated fuNIs 14.127 14.127 266 15751 1575 13,818 13.818 Generalfunds Geneialfunds 329,465 293.088 1288,982 1288.982 333,571 333,sn Total un[eritted funds Restrictedfunds Jeanne Maiie Gunn Tiust 4.000 sio 3,000 7,510 14,0001 15101 3,000 7.510 Neighbourly- dI EALC- Food support Total Restrfcted funds TotalfuThJs 1297. 347,388 pg. 21
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 14. Statement of funds (continued) BaLanteat 0110412023 Balance at 3110312024 Income Expendlture Transfers Currerf year Unrestricted funds Deslgnated bjnds H.E.L.P. funds TotaLdeslgJ)ated funds 15.421 15,421 262 262 1,5561 11.5561 14,127 14,126 Generallunds Generalfunds 329.056 329,056 280.694 1280,2861 280,286 3,465 329,465 TotaLunrestricted lunds Restiicted funds Jeanne Marie Gunn Trust Neighbourly- Lidl Neighbourly- Sainsburys EALC- Food support Total Restricted funds 2.000 1.305 500 3,600 7,405 12,0001 11,3051 15001 13,6001 7.4051 TotaLfunds 344477 288.361 1289.2471 343,591 15. Analyslsof net assets between lunds Unrestricted Funds Restricted Funds DesIated Funds Total Funds Current perlod 2025 2025 2025 2025 Tanble fixed assets Currentas5ets Creditors (Jue withinoneyear Total 44.078 292.235 12,7441 44.078 306,052 12,7441 347.387 13,818 13.818 Unrestricted Funds Restricted Designated Funds 2025 Total Funds 2025 Fund5 2025 Prior period Tanble fixed assets Curientasset5 Creditois due wilhinonesEar Total 57.701 276.135 14,3721 S7.701 290,261 14,3721 343.591 14,126 14126 16. Pension cornmitments The pension operates 2 defined contributions pension scheme. The assersofihe scheme are held separarelyfrom those ofthe company in an independenriyadministered fund. The pension charge represents coniribuiions payable bythe companyto Ihefund and amounted 10 £3,44912024-. £3.0881. Coniributionsioialb"ng£NILI2024- £NILlwere payable rothe fundaiihe balance sheerdate and are included in creditors. pg. 22
Docusign Envelope ID.. 4781669&F7394749-8E68-D4CD04C66F9F Hopeworx Notes to the Financial Statements For the year ended 31 March 2025 17. OperatIleaSe commltments At31 March 2025 the companyhad commitrnentsto make future minimurn lease payrnents under non-cancellable operating leases asfollo 2025 2024 Not L3terthan lyeai Laterthan lyeai and notlaler than 5year5 34,460 80,725 115.185 30,594 110,844 1.438 18. Related parttransactlons Duringthe year. J FOK the wife of the Trustee R Fox. recewed 778.24 in remuneration12024.. £31967.43). Charitycornmission con5entto paythis remuneration has en received There have been no other related partytransactionsthatrequire disclosure. 19. Post Balance Sheet Events The Charity's assets and liabilities were donated to The Saint Vincent de Paul Society (England and Wales) on 1 April 2025. The Saint Vincent de Paul Society (England and Wales) now oper8tes the Hopeworx services 88 St Vincent de Paul Society Hopeworx. pg. 23