CHARITY REGISTRATION NUMBER: 1155462
Hopegrove Unaudited Financial Statements 31 December 2024
WHITESIDE AND DAVIES LTD
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
Hopegrove
Financial Statements
Year ended 31 December 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Hopegrove
Trustees' Annual Report
Year ended 31 December 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.
Reference and administrative details
Registered charity name Hopegrove Charity registration number 1155462 Principal office OCC Estate, Building A, Suite 8 105 Eade Road London N4 1TJ England The trustees Mr A Grunhut Mrs C Friedman Mr M Weiss Independent examiner Ian Graff FCCA 158 Cromwell Road Salford M6 6DE
Structure, governance and management
The Charity is a Charitable Incorporated Organisation (CIO) constituted by trust deed dated 24 January 2014 with the Foundation model and is registered with the Charity Commission. The Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full trustees' meetings. Recruitment and appointment of new trustees would be with the consent of the trustees. There have been no related party transactions in the reporting period that require disclosure.
Objectives and activities
The objects of the charity are:
the advancement of the Orthodox Jewish religion, orthodox Jewish education and education in general; the relief of poverty, sickness and infirmity for the public benefit; and such other purposes as are charitable according to English law as the trustees may determine in their discretion.
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
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Hopegrove
Trustees' Annual Report (continued)
Year ended 31 December 2024
Achievements and performance
During the year the charity received £274,322 in donations (2023 - £37,916). Expenditure totalled £272,909 (2023 - £202,569). There was an overall surplus for the year of £6,957 (2023 - £164,653 deficit). The trustees would like to record their appreciation for all financial support received from benefactors in the year.
Financial review
The balance of unrestricted reserves is a surplus of £39,821 (2023 - £32,864). The trustees are satisfied with the charity's achievements and financial results for the year. The trustees plan to continue making similar grants in the future and to ensure that funds are available to enable the charity to continue in operation in the medium to long term.
The trustees' annual report was approved on 21 October 2025 and signed on behalf of the board of trustees by:
Mr A Grunhut Trustee
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Hopegrove
Independent Examiner's Report to the Trustees of Hopegrove
Year ended 31 December 2024
I report to the trustees on my examination of the financial statements of Hopegrove ('the charity') for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the charity’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 I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
Ian Graff FCCA Independent Examiner
158 Cromwell Road Salford M6 6DE
21 October 2025
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Hopegrove
Statement of Financial Activities
Year ended 31 December 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 274,322 | 274,322 | 37,916 |
| Charitable activities | 5 | 5,544 | 5,544 | – |
| -------------------------------- | -------------------------------- | ---------------------------- | ||
| Total income | 279,866 | 279,866 | 37,916 | |
| ================================ | ================================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 273,909 | 273,909 | 202,569 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 273,909 | 273,909 | 202,569 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income/(expenditure) and net movement in funds | 5,957 | 5,957 | (164,653) | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 32,864 | 32,864 | 197,517 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 38,821 | 38,821 | 32,864 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
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Hopegrove
Statement of Financial Position
31 December 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 13 | 56,500 | 45,100 |
| Cash at bank and in hand | 9,519 | 9,731 | |
| ---------------------------- | ---------------------------- | ||
| 66,019 | 54,831 | ||
| Creditors: amounts falling due within one year | 14 | 8,300 | 600 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 57,719 | 54,231 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 57,719 | 54,231 | |
| Creditors: amounts falling due after more than one year | 15 | 18,898 | 21,367 |
| ---------------------------- | ---------------------------- | ||
| Net assets | 38,821 | 32,864 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Unrestricted funds | 38,821 | 32,864 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 16 | 38,821 ============================ |
32,864 ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 21 October 2025, and are signed on behalf of the board by:
Mr A Grunhut Trustee
The notes on pages 6 to 11 form part of these financial statements.
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Hopegrove
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is OCC Estate, Building A, Suite 8, 105 Eade Road, London, N4 1TJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Hopegrove
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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Hopegrove
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations received | 274,322 | 274,322 | 37,916 | 37,916 | |
| ================================ | ================================ | ============================ | ============================ | ||
| 5. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Exceptional income from charitable | |||||
| activities | 5,544 | 5,544 | – | – | |
| ======================= | ======================= | ============== | ============== |
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Hopegrove
Notes to the Financial Statements (continued)
Year ended 31 December 2024
6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable activity | 272,522 | 272,522 | 201,309 | 201,309 |
| Support costs | 1,387 | 1,387 | 1,260 | 1,260 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 273,909 | 273,909 | 202,569 | 202,569 | |
| ================================ | ================================ | ================================ | ================================ |
7. Expenditure on charitable activities by activity type
| Grant funding | Support | Total funds | Total fund | |
|---|---|---|---|---|
| of activities | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charitable activity | 272,522 | 587 | 273,109 | 201,369 |
| Governance costs | – | 800 | 800 | 1,200 |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | |
| 272,522 | 1,387 | 273,909 | 202,569 | |
| ================================ | ======================= | ================================ | ================================ |
8. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2024 | Total 2023 | |
| £ | £ | £ | |
| Finance costs | 587 | 587 | 60 |
| Governance costs | 800 | 800 | 1,200 |
| ----------------------- | ----------------------- | ----------------------- | |
| 1,387 | 1,387 | 1,260 | |
| ======================= | ======================= | ======================= |
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Hopegrove
Notes to the Financial Statements (continued)
Year ended 31 December 2024
9. Analysis of grants
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Grants to institutions | |||
| Amud Hatzdokoh Trust | 20,675 | 1,957 | |
| Asser Bishvil Foundation | 20,000 | – | |
| Beis Aharon TT Activity Centre | 20,000 | – | |
| Heichalei Hakodesh Centre | 20,000 | – | |
| Reb Shayale's Tzeduke | 10,000 | – | |
| The Rehabilitation Trust (Wlodowa) | 15,000 | 10,000 | |
| Toiras Moishe Talmudical Academy | 20,000 | – | |
| UTA of Kiryas Joel Trust | 9,250 | 1,180 | |
| VHLT Ltd | 10,000 | – | |
| Yad Toiva Trust | 40,000 | 250 | |
| Yad Vochessed Association | 20,000 | – | |
| Kehal Yetev Lev | – | 15,000 | |
| Satmar Torah Trust | – | 15,000 | |
| Grants to institutions not greater than £5,000 | 43,847 | 157,922 | |
| -------------------------------- | -------------------------------- | ||
| 248,772 | 201,309 | ||
| Grants to individuals | |||
| Grants to individuals not greater than £3,000 | 23,750 | – | |
| -------------------------------- | -------------------------------- | ||
| Total grants | 272,522 | 201,309 | |
| ================================ | ================================ | ||
| 10. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 800 ============== |
600 ============== |
11. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Debtors
Other debtors
2024 2023 £ £ 56,500 45,100 ============================ ============================
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Hopegrove
Notes to the Financial Statements (continued)
Year ended 31 December 2024
14. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 800 | 600 |
| Other creditors | 7,500 | – |
| ----------------------- | -------------- | |
| 8,300 | 600 | |
| ======================= | ============== | |
| Creditors: amounts falling due after more than one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Bank loans and overdrafts | 18,898 | 21,367 |
| ============================ | ============================ |
15. Creditors: amounts falling due after more than one year
16. Analysis of charitable funds
Unrestricted funds
| At | At | |||
|---|---|---|---|---|
| 1 Jan 2024 | Income | Expenditure | 31 Dec 2024 | |
| £ | £ | £ | £ | |
| General funds | 32,864 | 279,866 | (273,909) | 38,821 |
| ============================ | ================================ | ================================ | ============================ | |
| At | At | |||
| 1 Jan 2023 | Income | Expenditure | 31 Dec 2023 | |
| £ | £ | £ | £ | |
| General funds | 197,517 | 37,916 | (202,569) | 32,864 |
| ================================ | ============================ | ================================ | ============================ | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2024 | |||
| £ | £ | |||
| Current assets | 66,019 | 66,019 | ||
| Creditors less than 1 year | (8,300) | (8,300) | ||
| Creditors greater than 1 year | (18,898) | (18,898) | ||
| ---------------------------- | ---------------------------- | |||
| Net assets | 38,821 | 38,821 | ||
| ============================ | ============================ | |||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Current assets | 54,831 | 54,831 | ||
| Creditors less than 1 year | (600) | (600) | ||
| Creditors greater than 1 year | (21,367) | (21,367) | ||
| ---------------------------- | ---------------------------- | |||
| Net assets | 32,864 | 32,864 | ||
| ============================ | ============================ |
17. Analysis of net assets between funds
11