**REGISTERED CHARITY NUMBER: 1151846**
## **Report of the Trustees and**
## **Unaudited Financial Statements for the Year Ended 31 December 2023**
**for**
**Highway Hope**
Raise Chartered Accountants 10th Floor
3 Hardman Street Spinningfields Manchester M3 3HF
**Highway Hope**
**Contents of the Financial Statements for the Year Ended 31 December 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|11|
**Highway Hope**
## **Report of the Trustees for the Year Ended 31 December 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The Trustees of Highway Hope have the pleasure in presenting their report for the period ended 31st December 2023
Highway Hope is a registered Charity with registration number 1151846 and a registered office at No. 1 Matthews Lane, Manchester, M12 4QW
## The Board of Trustees:
Rev Joseph Solademi - Chair Mr Michael Afolabi - Vice Chair Ms Modupe Adediran - Treasurer Ms Pauline Limen - Secretary
## **Highway Hope aims and objectives**
Highway Hope's vision is to transform lives, empower and support local residents within the community.
Our mission is to improve health and wellbeing of our community through a range of multi-purpose services for families, young children, young adults; learning opportunities; catering and room hire; events for social inclusion; volunteering and general services.
## **Our social impact is recorded as follows:**
- Relief of Poverty and Hardship
- Encourage community cohesion and engagement
- Reducing social isolation
- Advancing Education and Training
- Advancing Mission and Christian Education
- Improving health and wellbeing
- Increasing employability
## **Achievements and Performance**
## **The relief of poverty and hardship**
## Food Bank:
Our Food Bank currently distributes food to over 80 families each month at 2 locations namely the Matthews Lane and the Stockport locations. We are registered with Bakuet and obtain adequate tonnes of food every month which are bagged up weekly by our volunteers. The families we support are referred or can self-refer.
The food bank holds every Tuesday at Stockport and every Tuesday and Thursday at Matthews Lane.
## Free Community & Social Cafe :
Our cafe runs from 10am - 4pm, Mondays to Fridays. Free meals are served to any and every hungry person who walks into the cafe during the opening hours. The cafe attends to an average of about 10-20 people daily. In 2023 we received a social investment towards our café and we are in the process of upgrading into a social enterprise cafe
## Highway Hope General Store :
Our general store is now based at 28-30 Princes Street, Stockport, servicing hundreds of local residents with free affordable furniture thereby tackling furniture poverty. Our shops are opened Monday- Saturday (10am-5pm) .
These shops provide a range of donated and recycled items at discounted prices to local communities offering affordable clothes, toys, and household goods/furniture. We also tackle furniture poverty and offer valuable skills and work experience to volunteers/ long term unemployed.
Community cohesion and engagement:
Page 1
**Highway Hope**
## **Report of the Trustees for the Year Ended 31 December 2023**
Social Nights -We encourage community cohesion through every our Thursday evening social night with varying social activities aimed at encouraging social connectedness among community members from different ethnic and religious backgrounds. During this weekly program, participants are exposed to different competitive activities whereby the winners go home with prizes. Meals are served for free during this program. The program has contributed immensely to peaceful co-existence among members from diverse ethnic and religious backgrounds in the community. We record a weekly attendance of an average of 10-20 attendees.
## Advancing Education and Training:
Highway Hope educational support for KS2, KS3 & KS4 school year students. We support over 200 young children from various mainstream schools with an aim of adding value to their academic performance. This is held every Saturday between 10am-6pm. We are a registered organisation with MEaP (Making Education a Priority), a consortium of community organisations that have joined forces with the intention of sharing resources across their communities. Although the consortium works in a variety of ways in its communities, it is committed to the strategic linking of initiatives around education, health, wellbeing and employment that can work in concert as primary drivers in the regeneration of the communities the consortium serves.
## Advancing Mission and Christian Education:
We support missions abroad in Nigeria, Botswana and Uganda through the provision of health care facilities in the remote areas of Africa. st4 we have provided free …
## Improving health and wellbeing:
We run health awareness days in the UK and are a registered organisation with the Caribbean and African Health Network.
## **Review:**
The trustees of Highway Hope review the aims, objective and activities of the charity every year. The review looks at what we have achieved and the outcomes of our work over the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people it has set out to help. The review ensures that the aims, objective and activities remained focused on its stated purposes.
We have referred to the guidance of the Charity Commissions general guidance on public benefit when reviewing aims and objectives and in planning our future activities. In particular, the Trustees have considered how the planned activities will contribute to the aims and objectives they have set.
The Charity's net reserves for the year ended 31st December 23 was £2,226 compared to £3,083 at 31st December 22. The Charity holds sufficient unrestricted funds to meet its fixed costs for a 3 to 6 month period.
## **How our services deliver public benefit**
The Trustees have considered the new obligations of the Charities Act 2006. We are satisfied that Highway Hope complies with the Act and with Section 4 of the Act concerning 'public benefit' guidance issued by the Charity Commission.
.
## **Key Achievements in 2023:**
The past year has been successful: we have:
- We support over 300 local residents with food parcels and readymade meals every month
- We have commenced social activities such as music workshops, dance clubs with over 30 young people in attendance
- We have trained over 10 new people as community volunteers with digital skills
- We have increased the number of young people attending our extended supplementary school service during the weekends achieving
- GCSE's, and 11 plus successes from 150 to 200.
- Our counselling unit now has 2 accredited counsellors providing professional counselling
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1151846
Page 2
**Highway Hope**
## **Report of the Trustees for the Year Ended 31 December 2023**
## **Principal address**
1 Matthews Lane Manchester M12 4QW
## **Trustees**
Ms D Adediran AIMLT ; MT M Afolabi BSC ; MSC P DIP; PSCH EDU; PGCE J Dagiloke R J Solademi
## **Independent Examiner**
Raise Chartered Accountants 10th Floor 3 Hardman Street Spinningfields Manchester M3 3HF
Approved by order of the board of trustees on 28 October 2024 and signed on its behalf by:
M Afolabi BSC ; MSC - Trustee
Page 3
**Independent Examiner's Report to the Trustees of Highway Hope**
## **Independent examiner's report to the trustees of Highway Hope**
I report to the charity trustees on my examination of the accounts of Highway Hope (the Trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of 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 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.
Su Rai Institute of Chartered Accountants England and Wales Raise Chartered Accountants 10th Floor
3 Hardman Street Spinningfields Manchester M3 3HF
29 October 2024
Page 4
**Highway Hope**
## **Statement of Financial Activities for the Year Ended 31 December 2023**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
4,765
**Charitable activities**
Food bank and Community food store
-
Supplementary education
115,412
Free community and social cafe
26,500
Furniture store
101,516
Charity store
41,477
Community outreach
34,663
Investment income
3
16,815
**Total**
341,148
**EXPENDITURE ON**
**Charitable activities**
Food bank and Community food store
39,158
Supplementary education
84,620
Free community and social cafe
42,384
Furniture store
75,015
Charity store
41,665
Charitable giving
1,927
Community outreach
54,755
**Total**
339,524
**NET INCOME**
1,624
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
100,296
**TOTAL FUNDS CARRIED FORWARD**
101,920|31.12.23
31.12.22
Restricted
Total
Total
fund
funds
funds
£
£
£
-
4,765
1,743
-
-
12,500
27,730
143,142
160,341
-
26,500
9,573
-
101,516
18,210
-
41,477
106,057
7,750
42,413
42,397
-
16,815
7,650
35,480
376,628
358,471
11,825
50,983
57,330
10,206
94,826
94,438
-
42,384
33,026
-
75,015
65,249
752
42,417
44,132
-
1,927
2,284
12,095
66,850
58,929
34,878
374,402
355,388
602
2,226
3,083
1,628
101,924
98,841
2,230
104,150
101,924|31.12.23
31.12.22
Restricted
Total
Total
fund
funds
funds
£
£
£
-
4,765
1,743
-
-
12,500
27,730
143,142
160,341
-
26,500
9,573
-
101,516
18,210
-
41,477
106,057
7,750
42,413
42,397
-
16,815
7,650
35,480
376,628
358,471
11,825
50,983
57,330
10,206
94,826
94,438
-
42,384
33,026
-
75,015
65,249
752
42,417
44,132
-
1,927
2,284
12,095
66,850
58,929
34,878
374,402
355,388
602
2,226
3,083
1,628
101,924
98,841
2,230
104,150
101,924|
|---|---|---|
|||358,471|
|||57,330
94,438
33,026
65,249
44,132
2,284
58,929|
|||355,388|
|||3,083
98,841|
|||101,924|
The notes form part of these financial statements
Page 5
## **Highway Hope**
## **Balance Sheet 31 December 2023**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
270,794
**CURRENT ASSETS**
Debtors
7
1,500
Cash at bank
7,226
8,726
**CREDITORS**
Amounts falling due within one year
8
(367)
**NET CURRENT ASSETS**
8,359
**TOTAL ASSETS LESS CURRENT LIABILITIES**
279,153
**CREDITORS**
Amounts falling due after more than one year
9
(177,233)
**NET ASSETS**
101,920
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.12.23
31.12.22
Restricted
Total
Total
fund
funds
funds
£
£
£
2,230
273,024
277,000
-
1,500
5,000
-
7,226
9,481
-
8,726
14,481
-
(367)
-
-
8,359
14,481
2,230
281,383
291,481
-
(177,233)
(189,557)
2,230
104,150
101,924
101,920
100,296
2,230
1,628
104,150
101,924|31.12.23
31.12.22
Restricted
Total
Total
fund
funds
funds
£
£
£
2,230
273,024
277,000
-
1,500
5,000
-
7,226
9,481
-
8,726
14,481
-
(367)
-
-
8,359
14,481
2,230
281,383
291,481
-
(177,233)
(189,557)
2,230
104,150
101,924
101,920
100,296
2,230
1,628
104,150
101,924|
|---|---|---|
|||101,924|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 October 2024 and were signed on its behalf by:
M Afolabi BSC ; MSC - Trustee
The notes form part of these financial statements
Page 6
**Highway Hope**
**Notes to the Financial Statements for the Year Ended 31 December 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost Motor vehicles - 20% on cost Computer equipment - 20% on cost
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|Donations|4,765|1,743|
continued...
Page 7
**Highway Hope**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **3. INVESTMENT INCOME**
31.12.23 31.12.22 £ £ Rents received 16,815 7,650
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no payments of trustees remuneration of other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,743
**Charitable activities**
Food bank and Community food store
12,500
Supplementary education
160,341
Free community and social cafe
9,573
Furniture store
18,210
Charity store
106,057
Community outreach
42,397
Investment income
7,650
**Total**
358,471
**EXPENDITURE ON**
**Charitable activities**
Food bank and Community food store
56,681
Supplementary education
85,384
Free community and social cafe
32,377
Furniture store
64,600
Charity store
43,483
Charitable giving
2,284
Community outreach
44,325
**Total**
329,134
**NET INCOME/(EXPENDITURE)**
29,337
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
70,960
**TOTAL FUNDS CARRIED FORWARD**
100,297|Restricted
fund
£
-
-
-
-
-
-
-
-
-
649
9,054
649
649
649
-
14,604
26,254
(26,254)
27,881
1,627|Total
funds
£
1,743
12,500
160,341
9,573
18,210
106,057
42,397
7,650|
|---|---|---|
|||358,471|
|||57,330
94,438
33,026
65,249
44,132
2,284
58,929|
|||355,388|
|||3,083
98,841|
|||101,924|
continued...
Page 8
**Highway Hope**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **6. TANGIBLE FIXED ASSETS**
|**6.**|**TANGIBLE FIXED ASSETS**|||||||
|---|---|---|---|---|---|---|---|
||||Fixtures|||||
|||Freehold|and||Motor|Computer||
|||property|fittings||vehicles|equipment|Totals|
|||£|£||£|£|£|
||**COST**|||||||
||At 1 January 2023|268,269|26,220||14,250|19,768|328,507|
||Additions|-||-|-|319|319|
||At 31 December 2023|268,269|26,220||14,250|20,087|328,826|
||**DEPRECIATION**|||||||
||At 1 January 2023|-|24,841||11,350|15,316|51,507|
||Charge for year|-|1,009||1,450|1,836|4,295|
||At 31 December 2023|-|25,850||12,800|17,152|55,802|
||**NET BOOK VALUE**|||||||
||At 31 December 2023|268,269|370||1,450|2,935|273,024|
||At 31 December 2022|268,269|1,379||2,900|4,452|277,000|
|**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||
|||||||31.12.23|31.12.22|
|||||||£|£|
||Other debtors|||||1,500|5,000|
|**8.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN**||**ONE YEAR**|||||
|||||||31.12.23|31.12.22|
|||||||£|£|
||Taxation and social security|||||181|-|
||Other creditors|||||186|-|
|||||||367|-|
|**9.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||||||
|||||||31.12.23|31.12.22|
|||||||£|£|
||Bank loans (see note 10)|||||155,129|159,916|
||Other creditors|||||22,104|29,641|
|||||||177,233|189,557|
continued...
Page 9
**Highway Hope**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **10. LOANS**
An analysis of the maturity of loans is given below:
|||31.12.23|31.12.22|
|---|---|---|---|
|||£|£|
||Amounts falling due in more than five years:|||
||Repayable otherwise than by instalments:|||
||Bank loans more 5 yrs non-inst|155,129|159,916|
|**11.**|**SECURED DEBTS**|||
||The following secured debts are included within creditors:|||
|||31.12.23|31.12.22|
|||£|£|
||Bank loans|155,129|159,916|
The charity has a 20 year bank loan with Natwest. This is secured by a first legal charge on the property 2b-4 Lees Street, Openshaw, M11 1WH. The interest rate applicable to the loan is 3% above Bank of England.
## **12. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**|Net
movement
At
At 1.1.23
in funds
31.12.23
£
£
£
100,296
1,624
101,920
1,628
602
2,230
101,924
2,226
104,150
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
341,148
(339,524)
1,624
35,480
(34,878)
602
376,628
(374,402)
2,226|Net
movement
At
At 1.1.23
in funds
31.12.23
£
£
£
100,296
1,624
101,920
1,628
602
2,230
101,924
2,226
104,150
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
341,148
(339,524)
1,624
35,480
(34,878)
602
376,628
(374,402)
2,226|
|---|---|---|
|||2,226|
continued...
Page 10
**Highway Hope**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **12. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**|Net
movement
At
At 1.1.22
in funds
31.12.22
£
£
£
70,960
29,336
100,296
27,881
(26,253)
1,628
98,841
3,083
101,924
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
358,471
(329,135)
29,336
-
(26,253)
(26,253)
358,471
(355,388)
3,083|
|---|---|
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **14. RESTRICTED FUNDS**
## **15. MOVEMENT IN FUNDS**
||Brought|Incoming|Resources||
|---|---|---|---|---|
|Restricted funds|Forward|resources|expended|Carried forward|
|Forever Manchester|1,628|0|1,628|0|
|MEAP|0|2,730|500|2,230|
|UK Youth|0|5,000|5,000|0|
|Radio Bauer|0|2,750|2,750|0|
|Great Places|0|2,500|2,500|0|
|Northern Impact|0|25,000|25,000|0|
|Total Restricted Funds|1,628|37,980|37,378|2,230|
The funds from MEAP have not been fully utilised in the year leaving £2,230 remaining in restricted funds at the year end. These funds are for the virtual assist projects that have been and will continue to be carried out in the coming year.
Page 11