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← Hope Coventry

2023-12-31-accounts

Charity registration number 1155912

HOPE COVENTRY

A CHARITABLE INCORPORATED ORGANISATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs E Storey (Chair) Mr A Hillier Pastor E Etomi Mr A Ormes Mr A Simpkins (Vice Chair) Mr J Scouller Mrs A Harris Mr J Maynard Charity number 1155912 Principal address Hope Offices c/o The Halo Centre Progress Way Coventry CV3 2NT Independent examiner Debra Knighton FCCA Spencer Gardner Dickins Limited 3 Coventry Innovation Village Cheetah Road Coventry CV1 2TL Solicitors Rotherhams 8 & 9 The Quadrant Coventry CV1 2EG

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 17

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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)".

Objectives and activities

Hope Coventry's aims and objectives are primarily to advance the Christian faith for the benefit of the public in accordance with the Charity's Statement of Faith, in particular but not exclusively, by: a) proclaiming Christian messages of an evangelistic and teaching nature in Coventry, Warwickshire and beyond. b) demonstrating, promoting and encouraging Christian values including dignity, empowerment and partnership to all people in Coventry, Warwickshire and beyond.

It also aims to relieve poverty, need and sickness in Coventry and elsewhere as the trustees decide through the provision of education and practical action, working with those affected either directly or through relevant relief agencies.

The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake.

The Charity's principle activities are:

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

The charity continued to sustain its commitments and respond to societal needs in the city.

We are located at “The Halo Centre”, a charity hub including Coventry Food bank, Feed the Hungry, Hope into Action and HOPE Coventry. We have 16 part time staff working across four projects; There are 400+ volunteers serving 700+ clients from befriending to debt relief, offering prayer, to providing events across the city.

Good Neighbours – Good Neighbours Coventry was supporting 347 clients at the end of 2023, with 434 new referrals during the year. Each of these referrals for a vulnerable and isolated person age 50+ was triaged to seek the best outcomes for them - whether home befriending, telephone befriending, peer befriending, joining a supported friendship group, and/or signposting to other services to meet their wider needs.

Throughout the year, 166 people in the community attended a volunteering information session.

Volunteers were offered additional training on emergency first aid, dementia, bereavement & loss, scam & crime prevention, communication with sensory impairments, and active listening & building closer relationships. In addition, quarterly volunteer support sessions were held, and volunteer & client Christmas events. We also sent Christmas cards & booklets to all active clients and volunteers.

The Good Neighbours Bedworth pilot project closed in March 2023; matched clients are now being supported on an ongoing basis by the Coventry team.

We conducted a client & befriender survey in August & September 2023 to measure the impact of the service. As previously, feedback from clients & volunteers was overwhelmingly positive. 88% of clients thought that someone now cared about them compared to previously. 86% of clients were sure that Good Neighbours befriending made them feel less lonely and isolated. Clients and volunteers reported a huge variety of activities and practical support within their friendships, from assistance with reading & in the garden to getting vaccinated & using mobility aids.

Our two Memory Lane dementia & carer groups, and our two men's mental health support groups, continued to flourish throughout the year. Each offers a safe space for people to come and meet others in similar circumstances.

This year, we have met to partner with The Opal’s Occupational Therapy team, the Adult Social Care VCSE Market Place, social prescribers from across the city, the ‘Coventry & Warwickshire VCSE Mental Health Alliance’ and the ‘Over 65 MH Pathway Steering Group’, and the Sahara Project to better meet the needs of some south Asian elders.

Graham* has lived with lifelong disability and loneliness. His befriender of two years contacted Good Neighbours to say Graham hadn’t been himself recently and was possibly suffering from self neglect. Graham hadn’t had a recent haircut and appeared to be in a lot of pain with his feet which weren’t getting better. Thanks to the volunteer flagging this, the case was taken on by the Adult Social Care Outreach Support Team. They got him a haircut, chiropodist appointment and ended up facilitating an operation for a hip problem. The Outreach Support Team’s feedback was that they were really pleased Graham’s situation had been highlighted to them so that they were able to provide a coordinated package of support. This was down to the befriender. Graham himself is also much happier and in less pain! - September 2023

“Good Neighbours befriending is the most rewarding thing I’ve ever done in my life” - comment at a volunteer support session from a 70 year old male volunteer, August 2023 “I’ve attended other groups, but I find the open and honest conversation space excellent at Keresley. I really value being able to come here.” - Brian* at Keresley men’s group, July 2023

Agnes was referred to us by a social prescriber as she had recently moved to Coventry to be near her daughter, Julie, as she was in the early stages of Dementia. The initial assessment visit identified that Agnes would benefit from a befriender, but even more so her daughter, who was the sole carer for mum and was finding it increasingly hard to maintain her own life as well as supporting her mother. Julie was given information on local ‘day care’ services and Dementia/ carer support groups, was encouraged to apply for Attendance Allowance for mum, and made aware that once this was in place, mum would qualify for Council Tax exemption.

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

A befriender was quickly matched and introduced, they got on brilliantly especially sharing their love of crafting, and now meet up regularly. Julie has successfully applied for Attendance Allowance and the money is now used to fund 2 days a week at a Dementia Day service, that Agnes really enjoys. Julie says “I can’t thank you enough, that initial hour changed mine and my mum's life in so many ways, for the better, Mum is brighter and clearly happier, she loves having her befriender to talk to about so many things”.

Christians Against Poverty – 49 new families became CAP clients over the year and 9 families went fully debt free in 2023. 8 befrienders worked with us and 12 people are on our regular prayer team. We facilitate 5 ‘drop-in’ sessions, where clients can speak to the team, at social supermarket and Foodbank locations.

We also have good connections at 6 other Foodbank locations and 4 social supermarkets. These bring us a number of client families who have a variety of support needs. We have engaged with 183 families / individuals through these drop-ins (50% higher than in 2022), of which the majority we have been able to help by signposting, budgeting, by contacting their creditors to arrange payments or enrolling them as full CAP clients. We also have excellent relationships with the DWP, Law Centre, CGL (addiction charity), Citizens Advice, as well as Social Prescribers across the city.

Louisa’s* story

We were contacted by a social subscriber working at a GP surgery, who had a patient with debt issues. We met together and it became clear to Louisa that she needed to sell her old Range Rover and to stop driving, as her pension could not cover the expense of running the car. This was difficult for Louisa, as it was a step away from independence but we were able to support her through this and then put a plan in place to go through a DRO (Insolvency). The DRO came through within 5 weeks and she was debt free. Since then we have put a new budget together which whilst tight is manageable. Through this we were able to pray with her and encourage her in her Christian life. This is the story in her words:

‘I live in Coventry and at 75 years of age I had to give up work not knowing how much I owed creditors and I did not know how I was going to pay rent and pay all my credit. I didn’t want to live and was put on depression pills and all of a sudden I was given a number to get in touch with CAP. This was a Godsend. They helped me sort my debt out and how I could get help with rent. It was a hard journey, no stone unturned no matter how hard it was. Without CAP’s help through every stage I would not be where I am today. I can never repay CAP for all the help I had and will be eternally grateful to them’.

*Name has been changed to protect anonymity

Coventry House of Prayer – Around 30 people are involved in maintaining Coventry House of Prayer as a community that regularly prays for the City of Coventry and beyond. There are regular sessions throughout the week both at Trinity House and also in homes. CHoP participates in regional, national and international prayer events and is part of the UK Houses of Prayer National Network. Coventry House of Prayer has welcomed over 700 individual visits to the prayer room in 2023 and worked with many organisations including: Eternal Wall of Answered Prayer, Coventry Burn 24/7, Hope Springs Church, UK HoP Network, World Prayer Centre, Mission:Mercia.

In 2023 CHoP helped set up and support The Riley Square Prayer Room event and the Coventry Burn 24/7 prayer event. Some members completed the Hearing God for Others Course while one member attended international prayer assignments. Links have been made with international groups and CHoP are part of a newly formed intercessory group for England.

As well as responding to prayer requests the team regularly pray for families, friends and neighbourhoods, the whole city, our nation and the world.

Quotes from attendees:

“We were greatly blessed last month and look forward to the same [at a future event]."

"I love it here, I feel so peaceful."

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Healing on The Streets – During 2023, the Healing on the Streets team offered prayer to members of the public in the City Centre on 25 Saturday lunchtime sessions. The team is very committed and enthusiastic. There are usually 6-8 team members per session, praying for 12 people on average per session. The team is made up of members from several local churches.

Although prayer for healing is the main thrust, we also prayed for people regarding a wide range of needs, particularly the need to find a job. People usually went away happy and appreciative of our prayers, and at times we had people we had prayed for previously returning to tell us of the good things that God had done for them.

Safeguarding Training – Throughout 2023 we have delivered a comprehensive programme of safeguarding training to volunteers across all 4 projects; Good Neighbours, Christians Against Poverty, Healing on the Streets and Coventry House of Prayer. The training is a comprehensive overview of relevant safeguarding issues followed by a short quiz to ensure information has been understood and retained. Feedback from the training has been extremely positive. To date 262 volunteers have either attended a session with HOPE Coventry or submitted existing evidence of relevant safeguarding training. This training is part of an ongoing process and will be regularly repeated or reviewed to ensure all volunteers are competent within the area of safeguarding.

Church Leaders’ Gatherings – Two large gatherings were held with church leaders from across the city, with several smaller events to allow for strategic planning around topics such as prayer and supporting young people in the city, as well as equipping people and churches to assist individuals in the local community.

City Praise & Prayer – In June 2023 (following the Motofest weekend), we facilitated an open air gathering of over 600 people at GreyFriars Green in Coventry City Centre. Then in November 2023 we also held a similar indoor event where we celebrated 10 Years of City Praise and Prayer. These events brought together Christians from all denominations for an evening of songs, prayer, encouragement and celebration of Coventry.

Youth Leaders Gatherings - Following extensive discussions with stakeholders across the city, including Christian Youth Leaders, Church Leaders, Young People, Youth Charity / Organisation Leaders, Statutory Youth Providers and other key individuals, we launched quarterly youth leaders gatherings to enable networking, sharing of ideas and resources, prayer and joint events. The first one taking place in October 2023.

Partnership working

The trustees intend to continue HOPE Coventry's current activities whilst seeking further ways to achieve its aims and objectives. We have worked in partnership with the following:

Over 70 + Churches from all denominations in the city Official Affiliates:

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Other organisations we have worked with in 2023:

Grants and Funding for Good Neighbours

The Good Neighbours Project has received significant funding from Coventry City Council since 2016 as the main contributory funder, with other funds being provided by Coventry Building Society, Citizen Housing, and local churches.

Financial review

During the period, Hope Coventry's income amounted to £194,805. Expenses amounted to £218,399 so that Hope Coventry's deficit for the year was £23,594 (2022 surplus £7,542).

The trustees have a policy of not entering into financial commitments without knowing where the funding will come from. In view of that, the aim is to maintain cash reserves equivalent to at least three months expenditure of the general fund, or an estimate of the closure costs (staff redundancy etc.) of the charity, whichever is higher.

Where staff are funded by a restricted fund a similar policy will be adopted for cash held in the restricted fund.

At the 31 December 2023 the total funds available was £182,911, of which £57,967 was unrestricted and £124,944 was restricted.

The trustees have in place procedures, policies and risk assessment to fulfil their governance role and responsibilities.

The trustees intend to continue Hope Coventry's current activities whilst seeking further ways to achieve its aims and objectives.

Structure, governance and management

Hope Coventry became a Registered Charity on the 24th February 2014 as a Charitable Incorporated Organisation. Prior to that date it operated as an Unincorporated Voluntary Body since 27 November 2013. The assets of the former unincorporated voluntary body were transferred to Hope Coventry on 24 February 2014.

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 The trustees who served duwing the year and up to the dale of signature of the financial statements were.. Mrs E Slorey (Chairl Mr A Hillier Pasioi E Etomi MrA Ormes MrA Simpkins iifice Chairl Mr J Scouller Mrs A Harris Mr J M8ynard Appointment of trustees Appointments are made following appli¢ation. confirrnatson ol skills to a58i81 Charity in the fvifilment of it8 objectives and adheren￿ to the Ststement of F8ilh. The Iiuslee$ are responsible for the strategic manag2rnent of Hope Coventry. the m8n3gernent ol ils funds. the preparation and mallagemenl ol the budget and for advising and repothng on all Hope Coventry's operdtlDnal actiwlies. Only the trustees have the right to vote in Hope Coventry's decision-rnakiru prC￿$s. Trustèes remuneration and expenses No trustees receive any rèmuneration from HOPE Coventry Five of the trustee5 are leaders of churches in the cty. Those churches have donated approximately £11.09012022 '. £16,100) in total to the work of the chanly Dunng 2023 our staff and volunteer base and cornmitrnent has enabled us to s￿￿eSSIU11Y sustain a qualty service devèloping successful support across oui projects in thè la￿ ol adversity and difficulties presented by the ongoing Impact of the pandemic. We are extremely appreciative lor the 1ndividu81 financial donations. the significant number of Coventry Churches who give of their lime and finances towards 5etving the city and the grant funding received dufing the year through Hope Coventry. We look forward to satving in 2024 and bèyond. The trustees, report was approved by the Board ofTrustees. rey Truste¢ Dated..

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees 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).

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE COVENTRY I report to the trustees on my examination of the financial ststemenls of Hope Coventry Charitable In¢orpor8ted Organisation (the CIO) forthe year ended 31 December 2023. Responsibilitie¥ and basis of report As the trustees of the CIO you are responsible for the preparation of the financial statements In a¢cordance with the requirements of the Charities Act 2011 (the 2011 Acti. I report in respect of my examination of the CIO'S finanaal ststements IxrrT8d out under section 145 of the 2011 Act. In carying out my examination I have followed all the applicable Directions given by the Charity Cornmission under section 14515llbl of the 2011 Act. Independent examlnerfs stat8m&nt I hav6 complèted my examination. I confimi that no mattors have come to my attention in connecti￿ with the examination giMng me cause to believe that in any tnaterial iespect. accounting records weie not kept in respect of the CIO as required by saclion 130 of the 2011 Act- or the financial statements do not accord wth thosè rècords,. or the financial statements do not wmply with the applicable requirements eon¢eming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 oiher than any requirement that the accounts give a true and fail view which is not a matter conSide￿d as part of an independent examination. I have no concerns and have come auoss no othèr matters in conneciion with the examiNalion to which attention should be drawn in this report in order to en8ble 8 proper understsnding of the ffinancial statements lo be reached. Debra Knighton FCCA Spen￿r Gardner Dickins Limited 3 Coventry Inn(wation Village Cheetah Road Coventy CV12TL Dated..

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
23,451
62,780
Charitable activities
4
-
107,351
Investments
5
1,223
-
Total income
24,674
170,131
Expenditure on:
Raising funds
6
208
746
Charitable activities
7
40,472
171,118
Other expenditure
10
4,554
1,301
Total expenditure
45,234
173,165
Net income/(expenditure)
(20,560)
(3,034)
Transfers between
funds
32,217
(32,217)
Net movement in
funds
11,657
(35,251)
Reconciliation of funds:
Fund balances at 1 January
2023
46,310
160,195
Fund balances at 31
December 2023
57,967
124,944		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
86,231
22,722
87,711
107,351
-
141,066
1,223
2,253
-
194,805
24,975
228,777
954
40
35
211,590
48,764
192,182
5,855
3,163
2,026
218,399
51,967
194,243
(23,594)
(26,992)
34,534
-
20,123
(20,123)
(23,594)
(6,869)
14,411
206,505
53,179
145,784
182,911
46,310
160,195		 Total
2022
£
110,433
141,066
2,253
253,752
75
240,946
5,189
246,210
7,542
-
7,542
198,963
206,505

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION BALANCE SHEET AS Af 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets 12 495 Current a$s•ts Debtors Cash al bank and in hand 13 9.658 175.381 4.647 206.844 185.039 211.491 Creditors: amounts falling due wlthln one year 14 2.524 5.481 Net current assets 182.515 206.010 Total assets less current liabilities 182.911 206.505 The fund5 of the charily Restricted In¢ome funds Unrestricted funds 124.944 57.967 160,195 46,310 182.911 206,505 The financial Statements were arvroved by the trustees on. rsESt Trustee hairl 10-

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Hope Coventry became a Registered Charity on the 24th February 2014 as a Charitable Incorporated Organisation. Prior to that date it operated as an Unincorporated Voluntary Body since 27 November 2013. The assets of the former unincorporated voluntary body were transferred to Hope Coventry on 24 February 2014.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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 charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Donated services are included at the value to the charity where this can be quantified. The value of service provided by volunteers has not been included in these accounts.

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes the costs incurred by the charity in the delivery of its activities and services for its beneficiaries and their associated support costs. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include administrative costs, finance and governance costs which support the charity’s activities.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers

20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Financial Activity.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
20,451
60,848
Gift Aid tax reclaimed
3,000
1,932
23,451
62,780		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
81,299
22,391
85,494
4,932
331
2,217
86,231
22,722
87,711		 Total
2022
£
107,885
2,548
110,433

4 Charitable activities

2023 2022
£ £
Performance related grants 107,351 141,066

5 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 1,223 2,253

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Raising funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Advertising
208
746
208
746		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
954
40
35
954
40
35		 Total
2022
£
75
75

7 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
CAP Fees
Consultancy fees
Printing, postage and stationery
Telephone and computer charges
Ministry expenses
Insurance
Rent and rates
Repairs and maintenance
Debt repayments
Room and equipment hire
Celebration
Travelling
Donations
Sundry expenses
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
170,806
99
7,200
1,126
1,900
2,323
882
992
9,275
813
4,744
5,558
1,356
2,358
741
1,417
211,590
40,472
171,118
211,590		 2022
£
187,760
124
7,700
-
1,180
4,730
637
987
9,651
937
3,904
11,858
6,187
2,295
500
2,496
240,946
48,764
192,182
240,946

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2022: None).

None of the trustees were reimbursed any expenses during the year (2022: None).

9 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs
Other
Unrestricted
Restricted
funds
funds
2023
2023
Legal and professional
fees
345
1,253
Accountancy and book
keeping
4,165
-
Financing costs
44
48
4,554
1,301		 2023
Number
16
2023
£
159,995
7,375
3,436
170,806
Total
Unrestricted
Restricted
funds
funds
£
2023
2022
2022
1,598
12
1,994
4,165
3,120
-
92
31
32
5,855
3,163
2,026		 2022
Number
15
2022
£
179,610
4,558
3,592
187,760
Total
£
2022
2,006
3,120
63
5,189

10 Other

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 to the extent that these are applied to its charitable objects.

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

12
Tangible fixed assets
Cost
At 1 January 2023
At 31 December 2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
13
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
14
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 Computers
£
1,509
1,509
1,014
99
1,113
396
495
2023
2022
£
£
4,725
-
4,933
4,647
9,658
4,647
2023
2022
£
£
-
3,310
275
-
23
-
2,226
2,171
2,524
5,481		 Computers
£
1,509
1,509
1,014
99
1,113
396
495
2023
2022
£
£
4,725
-
4,933
4,647
9,658
4,647
2023
2022
£
£
-
3,310
275
-
23
-
2,226
2,171
2,524
5,481
1,509
1,014
99
1,113
396
495
2022
£
-
4,647
4,647
2022
£
3,310
-
-
2,171
5,481

HOPE COVENTRY A CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January At 1 January
Incoming
Incoming
Resources
Resources		 Transfers At 31
2023 resources expended December
2023
£ £ £ £ £
General funds 46,310 24,674 (45,234) 32,217 57,967
Previous year: At 1 January
Incoming
Resources		 Transfers At 31
2022 resources expended December
2022
£ £ £ £ £
General funds 53,179 24,975 (51,967) 20,123 46,310
16 Analysis of net assets between funds
Unrestricted Restricted **Total ** Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Fund balances at 31
December 2023 are
represented by:
Tangible assets 144 252 396 181 314 495
Current assets/(liabilities) 57,823 124,692 182,515 46,130 159,881 206,010
57,967 124,944 182,911 46,311 160,195 206,505

17 Related party transactions

Five of the trustees are leaders of churches in the city. Those churches have donated approximately £11,099 (2022 : £16,100) in total to the work of the charity.