Company no. 09553484 Charity no. 1161729
Hope For Children
Report and Unaudited Financial Statements Nine Month Period Ended 31 March 2024
Hope For Children
Report of the trustees’
For the period ended 31 March 2024
| Contents | Page |
|---|---|
| Message from our Chair | 2 |
| Message from our CEO | 3 |
| Objectives & Activities for the Public Benefit | 4 |
| Programme Highlights | 5 |
| Monitoring Achievement | 7 |
| Fundraising | 8 |
| Financial Review | 9 |
| Strategy & Plans for the Future | 11 |
| Structure, Governance & Management | 11 |
| Reference & Administrative Information | 13 |
| Statement of Trustee’s Responsibilities | 14 |
| Independent examiner’s Report | 15 |
| Statement of Financial Activities | 17 |
| Balance Sheet | 18 |
| Statement of Cash Flows | 19 |
| Notes to the Financial Statements | 20 |
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
MESSAGE FROM OUR CHAIR
Dear Supporters,
2024 marks the 30th anniversary of Hope being founded by Dr Bob Parsons, who many of you will remember. Hope has always been a very special organisation, seeking to help those who had nowhere else to turn, and Bob’s philosophy and drive has remained our inspiration throughout.
One of Bob’s founding principles was that the maximum amount of funds raised should go to helping those children who needed it most, with money spent on central overhead minimised. This has always remained at the forefront of our minds.
In the summer of 2023, I was fortunate to be introduced to Anna-mai, the CEO of Chance for Childhood. It very quickly became clear that our organisations’ mission and vision were very closely aligned and that we could work together to pool expertise and increase efficiency to help even more children and their families.
The two boards agreed and approved a merger in the early autumn, and the latter part of 2023 and early part of 2024 were focussed on achieving the first stage of this. There are huge synergies between our programmes and our teams which makes the new, merged organisation much greater than the sum of the parts, which in turn has given everyone renewed focus and energy.
Personally, I am thrilled at this development which will not only allow us to keep Bob’s legacy alive, but more importantly allow us to continue to help more those who need it the most. I am also delighted to be a part of the new organisation’s board of trustees and am excited to be working with the merged teams as we enter this new chapter.
We have been so grateful for all the support we have received from our supporters over the years. I hope you will join me in supporting our newly merged organisations in the way that you have so loyally for Hope and help us to continue the important work that Bob started 30 years ago.
Helen McMillan
Chair – Hope for Children
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
MESSAGE FROM OUR CEO
Dear Supporters,
2023 brought a significant year for Hope for Children. In February 2024, we embarked on an exciting new chapter by merging with Chance for Childhood. This strategic union strengthens our capacity to equip even more children in vulnerable situations worldwide.
We extend sincere gratitude to Julie Davis for her outstanding leadership as CEO for the past three and half years. Her vision has been instrumental in Hope for Children's success and continued impact. We also thank Geoff Cordell for his skilful interim leadership during the merger transition.
The combined expertise and resources of Hope for Children and Chance for Childhood create a powerful union. We'll expand our reach and advocate for the education, safety, and brighter futures of even more children. As we focus our combined efforts, several of Hope for Children's partnerships in India, Kenya, Philippines and the UK concluded in 2023. This strategic shift allows us to maximize our impact in new areas and focus on where we can provide the biggest change for children. Our work in Uganda, Kenya and Sri Lanka continues to be our main priority and together with our teams on the ground we are focusing on improving the lives of children.
The pages of this annual report show case our ambitious plans with Chance for Childhood.
We want to say a big thank you for your continued support and our work will not stop here. We are all committed to providing lasting change for the children who need us most. We invite you to partner with us on this exciting new chapter.
Anna-mai Andrews
CEO Chance for Childhood & Hope for Children
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
The Trustees are pleased to present their annual report and the independently examined financial statements for the 9 months starting 1 July 2023 and ending 31 March 2024.
The Trustees of Hope for Children confirm that the financial statements herein comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice – Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
In 1994, Hope for Children was founded and established as an unincorporated association (charity number 1041258). In June 2017 Trustees completed the process for Hope for Children to become an incorporated charitable organisation with a new charity number 1161729 (as part of their continued commitment to providing the best level of governance and accountability for the organisation). On 29 February 2024, Chance for Childhood became the sole member of the charity, with a planned merger of the two charities to be completed in late 2024.
CHARITABLE OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Hope for Children is an international development charity that passionately believes in a world where every child has a happy childhood that prepares them for a positive future. Hope for Children creates opportunities for overlooked, vulnerable and exploited children living in extreme poverty by improving their access to education and healthcare whilst empowering their families through sustainable livelihoods initiatives to support and provide for their own children.
Hope for Children’s impact is only possible through the generous support of individuals and organisations including institutional funders, charitable trusts, university students and private companies to financially support the delivery of programmes and operational costs. Hope for Children’s current strategic priorities are:
1. Raise awareness of children’s rights
- We believe that positive, long-term change is achievable when children and the communities they live in, understand, embrace and actively promote the rights of children.
2. Enable children to access education
- Hope for Children believes that education is one of the most powerful ways to lift children out of poverty, reduce inequalities, provide protection from exploitation and abuse; offering improved opportunities for a better future.
3.
Enhance access to health care and support
Some of the world’s children experience further disadvantage due to the multiple barriers they face during childhood. Hope for Children is committed to supporting children, who in addition to abject poverty, also have to contend with disabilities, illness and the impact of caring for parents affected by disease such as HIV/AIDs.
4.
Enabling families to secure sustainable livelihoods
Hope for Children believes that enabling families to prosper and take control of their own future has a far-reaching impact not only on their children’s lives but on their confidence and selfesteem.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
5. Enable marginalised children to access opportunities
- Issues such as poverty, abuse, exploitation and lack of access to services/opportunities are exacerbated for women, girls, those with special needs/illness and/or from specific ethnic/religious groups. Hope for Children is a non-political, non-sectarian organisation and is committed to promoting opportunities for the most marginalised children and young people in the multiple countries where we work. Lack of access and poor-quality education and healthcare have serious consequences for groups at risk of social exclusion.
Hope for Children’s strategic priorities and programme of work are in line with the Objects of the Charity as set out in our governing documents – ‘for the benefit of children, young people and their families primarily living in developing countries and, in particular but without limiting the foregoing, to relieve the poverty and sickness, advance the education and protect the good health of such persons’. The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Charity’s aims and objectives, in planning future activities. The Trustees are pleased to report that the Charity continues to deliver significant impact against its strategic priorities. Progress against the strategy and the environments we operate in are regularly reviewed to ensure that Hope for Children’s strategy continues to be relevant and impactful, fully supporting its charitable objectives and delivering public benefit.
HOPE FOR CHILDREN’S ACHIEVEMENTS
UGANDA:
Our dedicated Hope for Children team based in Uganda is continuing to deliver an intensive programme of support for children and families living in Namuwongo, a slum on the outskirts of Kampala. Working with the community to identify and protect the needs of Namuwongo’s most vulnerable children, the team delivers four core projects.
Walk 2 School:
Established in 2008 to ensure children got to school safely, in total the project has supported 180 children by providing school uniforms, equipment and school fees as well as counselling, practical support for emergency basic needs (e.g. food, rent, healthcare), vocational training, and maternal health education. In 2024 we have 56 children in the programme. Out of the 180, 72 have graduated in different fields, 25 are pursuing their degrees/ diplomas or certificates and 52 are still continuing with school.
As a consequence of extreme poverty, many of these children had been forced to sacrifice their education and their childhoods to support their families. By working to alleviate these pressures, the W2S project has enabled child heads of household to return to education and begin to redefine their own futures.
Literacy and Lights:
Launched in January 2024, the Literacy & Lights project builds on Hope for Children's 16 years of community work. Recognising the gaps in education access, the project tackles two key issues with the aim of reaching 690 children:
1. Out-of-school children (aged 3-12): Aimed at 405 children, the project offers literacy classes and educational resources to improve their literacy and numeracy skills and potentially reintegrate them into formal education.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
2. School-going children (aged 12-18): Targeting 285 children, the project provides access to learning materials and support programs to enhance their educational attainment, reduce drop-out rates, and improve their overall attitude towards school.
Additionally, the project distributes solar-powered lighting solutions to ensure access to light for studying and community development after dark.
Girls United:
Building confidence and positive relationships through football-based play, the Girls United project brings adolescent girls together to gain sexual and reproductive health knowledge. In addition to teaching the facts of sexual health, the project also equips them to care about their own health & wellbeing and be confident in accessing locally available services. Over the past nine months, 65 young girls have joined the team, forming friendships that provide comfort and relief in the face of extreme adversities.
Trauma and Wellness:
Serving many of the children that come to Hope for Children through other projects, the Trauma and Wellness programme supports some of Namuwongo’s most vulnerable children dealing with unimaginable trauma. Working in partnership with the local hospital, we are able to connect at-risk children with mental health professionals. We have reduced symptoms of anxiety, depression, and posttraumatic stress disorder (PTSD) in members, leading to better coping mechanisms, targeting 1,080 children and young adults on W2S, Girls United, and Literacy & Lights. We have also provided Community Resilience support for 1,334 participants (supported indirectly) by improving community awareness and preparedness for mental health issues, by spotting the person in critical need.
Street Business School:
This past nine months, the Hope for Children team has successfully delivered the fifth iteration of its Street Business School (SBS) Programme. Providing training, practical skills and mentorship, the Street Business School programme supports unemployed and low-earning individuals (particularly women) to develop their entrepreneurial skills and help them to gain financial independence. Hope endeavours to support sustainable family life with dignity.
SRI LANKA
Living Positively programme:
In partnership with Lanka Plus, the Living Positively Project provides essential financial assistance to 120 children impacted by HIV/AIDS. These children often come from deeply disadvantaged families and communities, with many having lost a parent or relying on elderly relatives with limited income. Our project offers bursaries to address their health, nutrition, and education needs, fostering a chance for a healthy and happy childhood. Between July 2023 and December 2023, the project directly supported 120 children, including 54 identified as HIV-positive. The Living Positively Project's impact is undeniable, with a growing number of children successfully completing their education and pursuing employment or further studies.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
KENYA
Early childhood development programme:
In Ahero and Awach, Kenya, your support transformed the lives of 207 vulnerable children aged 3-7 through our Early Childhood Development and Education (ECDE) program. We provided highquality care, education, and meals, fostering their development in a safe and nurturing environment. Parental education sessions, open days, and the creation of savings groups empowered families to be active partners in their children's success. While challenges like malaria outbreaks impacted attendance, we adapted by establishing plans for a clinic unit and seeking additional funding partnerships. This period, we also equipped 15 ECDE staff members with valuable skills to better care for the children and prepare them for school, creating a lasting positive impact on generations to come.
Feeding programme:
Hope for Children's partnership with CIVS Community Service (CIVS Kenya) nourished the futures of 274 vulnerable children (aged 7-14) in Ahero, Kenya. Through daily nutritious meals at the St. Christopher's Kolunga Primary School, this program not only addressed hunger but also yielded remarkable results . Children experienced a significant increase in average weight (0.4 kg), a 100% school retention rate, and an attendance rate exceeding 95%. Their academic performance soared as well, with a mean grade increase of 7.87 points in Grade 3. The program fostered community spirit by engaging local residents and promoting hygiene practices among the children. This investment in their well-being empowers them to reach their full potential.
UK PROGRAMME
Our UK partner Home-Start Knowsley, provide support to children and families living in poverty within the Knowsley local authority in Merseyside. As a result of the books provided through the Dolly Parton Imagination Library, the Home-Start team have been able to enhance the service they already provide to vulnerable families. Hope for Children and Home Start provided a total of 3,450 books to 383 children. For the coming year, funds have been made available to offer story time sessions to the children of the centre’s service users, and a shared library for our service users.
MONITORING ACHIEVEMENT
In this accounting period 2130 children and adults directly benefitted from Hope for Children’s interventions/ activities. The success and impact that the charity has had on the lives of overlooked children, vulnerable and exploited children is entirely down to the relentless support of Hope for Children’s team of Staff, trustees, donors, fundraisers, corporate supporters, volunteers and partners who always go the extra mile to make a difference. Hope for children is immensely grateful for this continued commitment and love of our mission.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
Beneficiaries: July 2023 – March 2024
| **Country ** | Beneficiaries |
|---|---|
| Kenya | 579 |
| Uganda | 761 |
| Sri Lanka | 120 |
| UK | 410 |
| Philippines | 260 |
| TOTAL | 2130 |
FUNDRAISING
It has been a brilliant nine months for our amazing Team Hope fundraisers! We’ve had a team of 16 at the London Marathon 2024, an incredibly strong team at the Marathon des Sables 2024, as well as many student fundraising challenges and finally a Christmas Big Give campaign that will fund our ‘Literacy and Lights’ Project in Kampala, Uganda. We are so grateful for the amazing support our fundraisers and donors have shown, committing time and energy to supporting Hope for Children.
Student Fundraising:
We have teams of student fundraisers from eight different universities this period, with wonderful fundraising events taking place around the country such as a Pancake Day Fundraiser at Southampton University, a quiz at Loughborough University and numerous bucket collections! We have loved seeing many students grow into amazing fundraisers and advocates of Hope for Children and look forward to waving them off on their challenges this summer. A special mention goes to our Challenge Leaders. From organising fundraising events to socials, our Challenge Leaders have done a brilliant job of bringing their teams together and helping other students with their fundraising. Well done!
We are delighted to continue our partnership with the challenge provider, Endeavours Adventures, who give our student fundraisers the opportunity to take on Skydives, the National Three Peaks Challenge, Machu Picchu Treks and new this period, the Lisbon Music Marathon. We are delighted that Amaquella, Dash to Dubrovnik’s provider, are now working together with Endeavours Adventures. We are so excited for this summer of challenges as well as student fundraising in the new academic year!
Our Big Give Christmas Challenge was a huge success! We raised a grand total of £10,427 which will fund our ‘Literacy and Lights’ Project in Namuwongo Slum Uganda. This multifaceted program may involve using libraries, providing educational materials and resources, offering literacy classes for children, and distributing solar power renewable energy solutions to ensure access to lighting for studying and community development after dark.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
London Marathon
The London Marathon 2024 was a roaring success with a team of 16 taking on the race. The dedication and commitment from the runners has been exceptional. In total, our team has raised an astonishing £41,837, of which £16,997 was received in the 2023/24 period! Thank you so much to each and every one of our incredible runners as well as to everyone who donated.
Our amazing team included: Aimee, Sophie, Jake, Dayan, Alex, Jack, Mason, Gareth, Calum, Chris, James, Lottie, Mariela, Josh, Craig and Clayton.
Marathon des Sables
We are always amazed at the dedication and determination shown by our fundraisers who take on the Marathon des Sables, known as the “toughest footrace on Earth”. We had an incredibly strong team of seven this cohort, with each and every one of them completing the six-day race! The team together have raised an amazing £34,995, of which £9,192 was received in the 2023/24 period! With a special mention for Rob Tant, who has raised an incredible £11,060!
We tracked the team during the weeklong race, and were amazed by their strength, with every single one of them completing each stage, even the 85km long stage. Thank you, Team Hope, now known as MdS Legends!
Thank you and congratulations to Rob, Mike, Andrew, Ben B, Chris, David and Ben S.
Corporate & Trusts Support
Thank you to all the Corporates, Trusts and Foundations large and small for your support; it has helped us drive long term change for overlooked, vulnerable and exploited children living in extreme poverty. We look to expand our partnerships in the coming year. You all have our immense gratitude:
FINANCIAL REVIEW
Income
The significant impact that we are able to facilitate is only possible thanks to the generous and committed support of our donors, fundraisers, volunteers, corporate partners, charitable trusts, foundations and institutional doners. The total income for the 9 month period was £321,888. Fundraising continues to be extremely difficult in the challenging economic climate in which we are operating. A significant contribution is derived from student challenges and sponsored events.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
We have also retained £185,134 unrestricted reserves to ensure we are able to meet the Charity’s reserves policy. The prior year’s considerable reserve has been partially utilised during 2023/24 on various projects; other funds are allocated to new projects in 2024/25.
Expenditure
The total resources expended during the year were £497,177. We have spent £375,345 on charitable activities in supported projects across the world and profoundly impact the lives of children, their families and communities.
We spent £121,832 on raising funds. £60,194 out of the total spent in raising funds, was directly attributable to delivering challenges and other fundraising events costs - such as marathon entry fees, flights, challenge operating costs, event venue hire, etc.
Reserves policy
Hope for Children is committed to using its funds for charitable purposes within a reasonable period of time and for those funds not to be retained as capital. The Charity recognises that the needs of children are immediate, and it, therefore, aims to use donor’s funds as soon as is possible. This is balanced against the need for prudent management of the Charity, ensuring sufficient resources are retained to support ongoing commitments, capital for growth and a financial buffer for unexpected variances to the budget. To this end, the Board regularly examines the short and long-term needs and commitments of Hope for Children and has formulated a reserves policy to meet those needs.
Trustees are committed to generating sufficient reserves to support organisational activities, and to meet the following requirements:
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Maintain the organisation’s assets in a good state of repair
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Honour financial commitments to partners
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Provide a financial cushion against risk and future uncertainties
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Resource the research and development of new services and initiatives
To this end, Hope for Children aims to maintain unrestricted reserves equivalent to six months’ salaries, overheads, committed fundraising costs and committed unrestricted project expenditure, less six months guaranteed income. The level of unrestricted funds at year end was £185,134; this is sufficient to meet the Charity’s reserves policy target of £140,000. A further sum of £20,293 was carried forward as restricted reserves to be spent on existing charitable activities in Uganda in the coming year as specified by the donors.
The total funds of the Charity at the year-end were £205,427. On this basis and due to the merging with Chance for Childhood, the Trustees are of the view that the Charity is a going concern because it continues to be able to meet its obligations as they fall due; on the basis of expected activity during the current year to 31 March 2025, we have evaluated that Hope for Children will continue to be able to meet its obligations for at least that foreseeable future.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
Investment policy
Hope for Children’s policy is to invest funds that are not required for immediate use in a mixture of shortterm and medium-term low risk interest bearing bank deposit accounts, primarily with CAF bank (wholly owned subsidiary of the Charities Aid Foundation) and Metro Bank. Both are regulated by the Financial Services Authority. We do not hold endowment funds. Investments in the named accounts continue to remain secure; however, yield is negligible.
Risk management
The Trustees and senior staff identify and review the major risks to which they believe the Charity is exposed to, particularly those related to programmes, finance, fundraising and child safeguarding, on an on-going basis; and work to ensure that appropriate controls are in place to provide reasonable assurance against fraud, negligence, carelessness and error. Risks are discussed at Trustee meetings, and a comprehensive risk register is maintained and reviewed annually by members of the Board of Trustees.
Hope for Children also works closely with its partners to deliver an appropriately risk-managed portfolio of activities whilst recognising that some of the work delivered through very small CBOs will naturally have a higher risk profile.
STRATEGY & PLANS FOR THE FUTURE
As Hope for children fully merges with Chance for Childhood over the next year we continue to strive to provide and enable effective interventions to some of the world’s most overlooked, vulnerable and exploited children – our combined mission is to be focused on providing for those whom the larger organisations cannot; the welfare of every child matters to us. Now we are secured our merge with Chance for Childhood the future of Hope and the projects we support remains positive. Chance for Childhood will be reviewing their strategy and focusing on the next 3-year plan and will be combining Hope’s projects along side this.
STRUCTURE, GOVERNANCE & MANAGEMENT
Hope for Children is a charitable company, incorporated at Companies House on 21 April 2015 and registered with the Charity Commission on 19 May 2015. On 29 February 2024, Chance for Childhood became the sole member of the charity, with a planned merger of the two charities to be completed in late 2024.
Directors and Trustees
The Directors of the charitable company (the Charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. Following the merger with Chance for Childhood on 29 February 2024, three Trustees of Chance for Childhood were appointed to the Board, with 3 existing Trustees of the charity remaining on the Board and all remaining Trustees of the charity resigning on this date. The Trustees serving during the accounting period, and on the date the report was approved, were:
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Helen McMillan
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Adrian May
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Zeta Sear
Chair re-appointed 8.12.22
Vice-Chair re-appointed 8.12.22
Treasurer appointed 19.7.23
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
- Nicoletta Gopsill-Piccolrovazzi Appointed 29.2.24 5. Richard Edwards Appointed 29.2.24 6. Elizabeth Ntege Appointed 29.2.24 7. Amanda Neylon Resigned 29.2.24 8. Iain Smith Resigned 29.2.24 9. Emilie Giles Resigned 29.2.24 10. Jenny Phillips Resigned 29.2.24 11. Julian Skeens Resigned 29.2.24 12. Dee Jethwa Resigned 29.2.24 13. Tekeste Ghebray Tekie Resigned 29.2.24 14. Jason Wollington Resigned 29.2.24
Recruitment and appointment of new Trustees
As per the Memorandum of Association and Articles of Association, there shall be a minimum of 3 Trustees and a maximum of 10 Trustees (with 2 supplementary co-opted places at Board discretion). Retiring Trustees may seek re-election at the end of their term of office, with no limit on the number of consecutive terms of office for which a Trustee may seek re-election. If at any time the number of Trustees falls below the maximum number of Trustees permitted, the Executive Committee may, by resolution passed by a majority of the Trustees of the Charity, co-opt up to two people as Trustees – provided that any such co-opted Trustee shall only hold office until the next Annual General Meeting of the Charity, at which he or she may stand for election.
All Trustees are selected through an open recruitment process, undergoing two interviews with the Chair, other Trustees and the Chief Executive. Trustees are selected based on the skills, experience and expertise they can bring to the charity in areas of governance, accounting, risk management, HR, law, children’s rights and international development.
Induction and training of new Trustees
New Trustees receive a half day induction to prepare them for their duties. Moreover, all Trustees undertake regular training and charity update sessions during away days held twice a year. The aim of the sessions is to ensure that Trustees have an up-to-date knowledge of key areas of the charity’s activities including financial and governance issues, HR, child safeguarding, risk management, programmes and partners.
Organisational structure & staff remuneration
Hope for Children is governed by a Board of Trustees that takes overall responsibility for its work and delegates day to day management decision making to the Chief Executive, with appropriate consultation with the Chair and Treasurer where necessary. Wider issues are taken to the appropriate Committees and the full Board.
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
The Chief Executive relies on the staff, volunteers, interns, advisors and stakeholders to support the effective running of the organisation. All Trustees give their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 6 to the accounts. Trustees are required to disclose all relevant interests and register them with the Chief Executive in accordance with the Charity’s Conflict of Interest policy and withdraw from decisions where a conflict of interest arises.
The salary of the Chief Executive is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the Charity and its commitment to keeping costs low, the Trustees consider that a multiple of up to 3 times the median average salary for UK employees is appropriate for this role; but at this time is not exercised as it moves into form part of Chance for Childhood. The remuneration is also benchmarked with international development charities of a similar annual turnover and activity to ensure that the remuneration set is fair and aligned to that paid for a similar role. All salaries are reviewed annually, as per the organisational remuneration policy, and any increase is based on the cost of living increase over the last 12 months and will give consideration to the Consumer Price index movement for the previous year. This salary increase is applied to all members of staff and is determined by the Trustees.
REFERENCE & ADMINISTRATIVE INFORMATION
Founder Dr Robert Parsons OBE Chief Executive Officer Julie Davis (until 13.10.2023) Geoff Cordell (Interim until 29.02.2024) Anna-mai Andrews (from 01.03.2024) Charity Number 1161729 (previously unincorporated charity no. 1041258) Company Number 09553484 Registered Office c/o CAD, 48 High Street, Hemel Hempstead, Hertfordshire, HP1 3AF Independent Examiners Godfrey Wilson Limited, 5th Floor, Mariner House, 62 Prince Street, Bristol BS1 4QD Principal Bankers CAF Bank Ltd, Kings Hill, West Malling, Kent, ME19 4TA Solicitors IBB Law, Capital Court, 30 Windsor Street, Uxbridge, Middlesex, UB8 1AB
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Hope For Children
Report of the trustees’
For the period ended 31 March 2024
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees (who are also directors of the charity 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and the Republic of Ireland (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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and accounting estimates that are reasonable and prudent
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State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees 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.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The Trustees are members of the Charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the Charity.
Approved by the Executive Committee of Trustees on 13 September 2024 and signed on their behalf by:
Helen McMillan
Helen McMillan Chair of Board of Trustees
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Independent examiner's report
To the trustees of
Hope For Children
I report to the trustees on my examination of the accounts of Hope For Children (the charitable company) for the period ended 31 March 2024, which are set out on pages 14 to 28.
Responsibilities and basis of report
As the trustees of the charitable company (and also its directors for the purposes of company law) 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 charitable 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 the charitable company's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
Since the charitable 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 I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), 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:
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(1) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
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(2) the accounts do not accord with those records; or
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(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 fair view' which is not a matter considered as part of an independent examination; or
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(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).
Attention is drawn to the fact that the charity is in the process of merging with another charity, Chance for Childhood (charity no. 1013587). On 29 February 2024, Chance for Childhood became the sole member of Hope For Children. The intention is to complete the merger by the end of 2024. On the basis that the charity's activities will continue once the merger is complete, the accounts have been prepared on a going concern basis.
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Independent examiner's report
To the trustees of
Hope For Children
In all other respects, 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.
Alison Godfrey
Date: 13 September 2024 Alison Godfrey FCA Member of the ICAEW For and on behalf of:
Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
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Hope For Children
Statement of financial activities (incorporating an income and expenditure account)
For the period ended 31 March 2024
| Restricted Note £ Income from: Donations and legacies 3 51,179 Other trading activities - Investment income - Total income 51,179 Expenditure on: Raising funds - Charitable activities 44,678 Total expenditure 5 44,678 6 6,501 Reconciliation of funds: Total funds brought forward 13,792 Total funds carried forward 20,293 Net income / (expenditure) and movement in funds |
Unrestricted £ 267,568 - 3,141 270,709 121,832 330,667 452,499 (181,790) 366,924 185,134 |
9 months to 31 March 2024 Total £ 318,747 - 3,141 321,888 121,832 375,345 497,177 (175,289) 380,716 205,427 |
12 months to 30 June 2023 Total £ 460,963 3,525 1,821 |
|---|---|---|---|
| 466,309 | |||
| 168,994 421,722 |
|||
| 590,716 | |||
| (124,407) 505,123 |
|||
| 380,716 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 13 to the accounts.
17
Hope For Children
Balance sheet
As at 31 March 2024
| As at 31 March 2024 | |||
|---|---|---|---|
| Note Current assets Debtors 10 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 11 Net assets and net current assets 12 Funds 13 Restricted funds Unrestricted funds: General funds Total charity funds |
£ 7,811 220,283 228,094 (22,667) |
31 March 2024 £ 205,427 20,293 185,134 205,427 |
30 June 2023 £ 86,242 324,837 |
| 411,079 (30,363) |
|||
| 380,716 | |||
| 13,792 366,924 |
|||
| 380,716 |
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the period by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for:
-
(i) ensuring that the Company keeps proper accounting records which comply with section 386 of the Act; and
-
(ii) preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
Approved by the trustees on 13 September 2024 and signed on their behalf by
Helen McMillan
Helen McMillan - Trustee
18
Hope For Children
Statement of cash flows
For the period ended 31 March 2024
| Cash used in operating activities: Net movement in funds Adjustments for: Dividends, interest and rents from investments (Increase) / decrease in debtors Increase / (decrease) in creditors Net cash used in operating activities Cash flows from investing activities: Dividends, interest and rents from investments Net cash provided by / (used in) investing activities Increase / (decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
31 March 2024 £ (175,289) (3,141) 78,431 (7,696) (107,695) 3,141 3,141 (104,554) 324,837 220,283 |
30 June 2023 £ (124,407) (1,821) (80,883) (5,535) |
|---|---|---|
| (212,646) | ||
| 1,821 | ||
| 1,821 | ||
| (210,825) 535,662 |
||
| 324,837 |
The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.
19
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Hope For Children meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
b) Subsidiary undertaking
Hope For Children International Limited is a registered non-governmental organisation in Uganda. It is audited locally and files appropriate returns within Uganda. Hope For Children International Limited is a wholly controlled subsidiary of Hope For Children (UK). The trustees have opted not to prepare consolidated accounts on the basis of immateriality, in application of statutory instrument 2008/629 regulation 19. In the period to 31 March 2024, based on draft figures, the subsidiary made a surplus of £48,148 (2023: deficit of £1,821). At 31 March 2024, Hope For Children Uganda had tangible fixed assets of £4,593 (2023: £3,895), current assets of £48,071 (2023: £3,965) and current liabilities of £837 (2023: £3,950), resulting in net assets of £51,827 (2023: £3,910).
c) Going concern basis of accounting
The charity is in the process of merging with another charity, Chance for Childhood. On 29 February 2024 Chance for Childhood became the sole member of the charity and the merger is planned to be completed in late 2024. On the basis that the charity's activities will continue once the merger is completed, the accounts have been prepared on a going concern basis.
d) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
20
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
1. Accounting policies (continued)
d) Income
Challenge event income is recognised as a donation on receipt as unconditional entitlement is met on receipt.
Income from other fundraising activities is accounted for in the financial year in which the event takes place. Income is deferred as appropriate.
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
f) Funds accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
g) Expenditure and irrecoverable VAT
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.
Costs of raising funds consists of fundraising expenses, payroll giving commission, challenge costs, costs of goods sold, and costs of fundraising events. Expenditure for fundraising events is accounted for in the financial year in which the event takes place and is deferred as appropriate at year end. At the balance sheet date, the charity makes an accrual for challenge events expenditure of the total costs of each place booked on a future challenge at the time when the participant has raised sufficient costs to cover the costs of their place.
Charitable activities comprises all the expenditure directly related to meeting the objectives of the charity. It includes grants made, governance costs and an apportionment of support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Allocation of support and governance costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. Governance costs are allocated to charitable activities in full. Support costs are allocated between raising funds and charitable activities on the basis of staff costs. The overall percentage allocations are as follows:
21
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
1. Accounting policies (continued) h) Allocation of support and governance costs
| 9 months | 12 months | |
|---|---|---|
| to 31 March | to 30 June | |
| 2024 | 2024 | |
| Raising funds | 40.0% | 38.5% |
| Charitable activities | 60.0% | 61.5% |
i) Tangible fixed assets
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.
Items of equipment are capitalised where the purchase price exceeds £1,000.
j) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k) Cash at bank and in hand
Cash at bank and cash 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.
l) Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
m) Financial instruments
The charitable 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 recognised at amortised cost using the effective interest method.
n) Pension costs
The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
o) Foreign currency transactions
Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end. Exchange differences are taken to the Statement of Financial Activities.
22
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
1. Accounting policies (continued)
p) Accounting estimates and key judgements
- In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key source of estimation or uncertainty that has a significant effect on the amounts recognised in the financial statements is accrued legacy income, which is included within debtors - see note 1(d) above.
2. Statement of financial activities: prior year comparatives
| Income from: Donations and legacies Other trading activities Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net expenditure and net movement in funds |
Restricted £ £ 48,340 412,623 - 3,525 - 1,821 48,340 417,969 - 168,994 65,613 356,109 65,613 525,103 (17,273) (107,134) Unrestricted |
2023 Total £ 460,963 3,525 1,821 12 months to 30 June |
|---|---|---|
| 466,309 | ||
| 168,994 421,722 |
||
| 590,716 | ||
| (124,407) |
23
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
3. Donations and legacies
| Donations Gifts in kind - marketing Legacies Grants Challenges Membership subscriptions Total donations and legacies Prior period comparative: Donations Legacies Grants Challenges Membership subscriptions Total donations and legacies |
2024 Restricted Total £ £ £ 19,220 110,749 129,969 - 12,312 12,312 - 75,631 75,631 31,959 2,129 34,088 - 66,457 66,457 - 290 290 51,179 267,568 318,747 2023 Restricted Total £ £ £ 23,240 165,448 188,688 - 66,165 66,165 25,100 2,150 27,250 - 178,630 178,630 - 230 230 48,340 412,623 460,963 Unrestricted Unrestricted to 30 June 9 months to 31 March 12 months |
2024 Restricted Total £ £ £ 19,220 110,749 129,969 - 12,312 12,312 - 75,631 75,631 31,959 2,129 34,088 - 66,457 66,457 - 290 290 51,179 267,568 318,747 2023 Restricted Total £ £ £ 23,240 165,448 188,688 - 66,165 66,165 25,100 2,150 27,250 - 178,630 178,630 - 230 230 48,340 412,623 460,963 Unrestricted Unrestricted to 30 June 9 months to 31 March 12 months |
|---|---|---|
| 318,747 | ||
| 2023 Total £ 188,688 66,165 27,250 178,630 230 to 30 June 12 months |
||
| 460,963 |
4. Government grants
The charitable company received no government grants during the current or prior year.
24
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
5. Total expenditure
| Total expenditure | |||||
|---|---|---|---|---|---|
| Staff costs (note 7) Grants payable (note 8) Other direct programme costs Challenge event costs Fundraising expenses Printing and stationery Office premises costs Insurance Consultancy Sundry expenses Independent examination Legal and professional fees Sub-total Allocation of support costs Allocation of governance costs Total expenditure |
Raising funds £ - - - 31,323 28,871 - - - - - - - 60,194 61,638 - 121,832 |
Charitable activities £ - 264,982 8,206 - - - - - 6,295 - - - 279,483 92,322 3,540 375,345 |
Governance costs £ - - - - - - - - - - 3,540 - 3,540 - (3,540) - |
Support costs £ 57,056 - - - - 236 9,814 1,143 70,049 3,153 - 12,509 153,960 (153,960) - - |
9 months to 31 March 2024 Total £ 57,056 264,982 8,206 31,323 28,871 236 9,814 1,143 76,344 3,153 3,540 12,509 |
| 497,177 - - |
|||||
| 497,177 |
25
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
5. Total expenditure
| Prior year comparative Staff costs (note 7) Grants payable (note 8) Other direct programme costs Challenge event costs Fundraising expenses Printing and stationery Office premises costs Insurance Consultancy Sundry expenses Independent examination Legal and professional fees Sub-total Allocation of support costs Allocation of governance costs Total expenditure |
Raising funds £ - - - 66,736 10,330 - - - 25,200 - - - 102,266 66,728 - 168,994 |
Charitable activities £ - 294,630 6,178 - - - - - 10,870 - - - 311,678 106,744 3,300 421,722 |
Governance costs £ - - - - - - - - - - 3,300 - 3,300 - (3,300) - |
Support costs £ 132,935 - - - - 417 17,932 1,615 - 5,558 - 15,015 173,472 (173,472) - - |
12 months to 30 Jun 2023 Total £ 132,935 294,630 6,178 66,736 10,330 417 17,932 1,615 36,070 5,558 3,300 15,015 |
|---|---|---|---|---|---|
| 590,716 - - |
|||||
| 590,716 |
26
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
6. Net movement in funds
This is stated after charging:
| Trustees' remuneration Trustees' reimbursed expenses Independent examiners' remuneration: Independent examination (excluding VAT) |
2024 £ Nil 3,585 3,000 9 months to 31 March |
2023 £ Nil Nil 2,500 12 months to 30 June |
|---|---|---|
Trustees' reimbursed expenses were for travel and accomodations for 2 trustees (2023: 0).
7. Staff costs and numbers
Staff costs were as follows:
| Salaries and wages Social security costs Pension costs |
2024 £ 53,756 1,847 1,453 57,056 9 months to 31 March |
2023 £ 122,833 6,456 3,646 12 months to 30 June |
|---|---|---|
| 132,935 |
No employee earned more than £60,000 during the current or prior year.
The key management personnel of the charitable company comprise the Trustees, Chief Executive Officer and Finance Officer / Manager. The total employee benefits of the key management personnel were £34,857 (2023: £76,339).
| Average head count | 2024 No. 4 9 months to 31 March |
2023 £ 6 12 months to 30 June |
|---|---|---|
27
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
8. Grants payable
| Hope for Children Uganda CVIS - Kenya MENCAFEP Dollywood Foundation UK Lanka Plus Home-Start Knowsley Moratuwa Social Service Society School for the Blind Pangarap Foundation Other recipients of non-material institutional grants |
2024 £ 190,406 29,563 21,243 6,767 4,657 4,138 3,000 2,643 2,250 - 315 264,982 9 months to 31 March |
2023 £ 189,666 72,293 8,969 5,219 2,708 - 1,040 4,698 - 10,037 12 months to 30 June |
|---|---|---|
| 294,630 |
All grants payable in the current and prior periods were payable to institutions.
9. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
10. Debtors
| Trade debtors Prepayments Grants receivable Accrued income |
2024 £ - 4,128 - 3,683 7,811 At 31 March |
2023 £ 10,000 3,786 6,000 66,456 At 30 June |
|---|---|---|
| 86,242 |
28
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
11. Creditors : amounts due within 1 year
| Intercompany creditor Accruals Other creditors 12. Analysis of net assets between funds Current assets Current liabilities Net assets at 31 March 2024 Prior period comparative Current assets Current liabilities Net assets at 30 June 2023 |
£ 20,293 - 20,293 £ 13,792 - 13,792 Restricted funds Restricted funds |
2024 £ 5,256 17,242 169 22,667 £ 207,801 (22,667) 185,134 £ 397,287 (30,363) 366,924 Unrestricted funds Unrestricted funds At 31 March |
2023 £ - 29,929 434 At 30 June |
|---|---|---|---|
| 30,363 | |||
| Total funds £ 228,094 (22,667) |
|||
| 205,427 | |||
| Total funds £ 411,079 (30,363) |
|||
| 380,716 |
29
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
13. Movements in funds
| Movements in funds | |||||
|---|---|---|---|---|---|
| Restricted funds Philippines Uganda UK CASPeR Knowsley Total restricted funds Unrestricted funds General funds Total funds |
At 1 July 2023 £ 2,220 - 11,572 13,792 366,924 380,716 |
Income £ 30 51,149 - 51,179 270,709 321,888 |
£ (2,250) (30,856) (11,572) (44,678) (452,499) (497,177) Expenditure |
Transfers between funds £ - - - - - - |
£ - 20,293 - At 31 March 2024 |
| 20,293 | |||||
| 185,134 | |||||
| 205,427 |
Purposes of restricted funds
Philippines
To provide an annual Sports Festival for children and young people.
UK CASPeR Knowsley
This focused activity in the Merseyside area in the northwest. The project responds to the increased need for young children to experience focused resources to nurture their communication and language skills.
Uganda
We continue to have a dedicated Hope team located in Kampala servicing the needs of the Namuwongo community. This includes:
-
Walk 2 School - funding children and young people through their primary and secondary phase education;
-
Mental-health provision for children and young people to support their well-being;
-
• Welfare provision for the children living in the most vulnerable circumstances (such as child headed families);
-
Street Business School – a course for parents/carers and young people leaving education to understand how to establish their own small business and sustain themselves and their family;
-
Girls United – a girls football team with many supporting aspects such as well-being/nutrition with sexual health & rights featuring strongly; and
-
Literacy & Lights – Launched in January 2024, recognising the gaps in education access, the project tackles two key issues with the aim of reaching 690 children to improve performance and retention rate of children who are attending school, engage children who are not currently in school to gain access to education, and creating a positive mindset shift and behavioural change towards literacy for all students and their family members. Providing families with solar lights and training to enable reading and studying after sunset.
30
Hope For Children
Notes to the financial statements
For the period ended 31 March 2024
13. Movements in funds (continued)
| Prior period comparative Restricted funds India Kenya Nepal Philippines Sri Lanka Uganda UK CASPeR Knowsley Other countries Total restricted funds Unrestricted funds General funds Total funds |
At 1 July 2022 £ 5,551 10,897 41 1,150 - 207 8,791 4,428 31,065 474,058 505,123 |
Income £ - 13,589 - 1,070 1,050 24,631 8,000 - 48,340 417,969 466,309 |
£ (5,551) (24,486) (41) - (1,050) (24,838) (5,219) (4,428) (65,613) (525,103) (590,716) Expenditure |
Transfers between funds £ - - - - - - - - - - - |
£ - - - 2,220 - - 11,572 - At 30 June 2023 |
|---|---|---|---|---|---|
| 13,792 | |||||
| 366,924 | |||||
| 380,716 |
14. Related party transactions
Management fees of £5,256 were charged to the charity during the period by Chance for Childhood, the sole member of charity with effect from 29 February 2024. As at the period end date £5,256 was owed to Chance for Childhood.
Details of grants payable to Hope for Children Uganda, a wholly owned subsidiary of the charity, are included in note 8 to the accounts.
15. Post balance sheet events
Following the merger with Chance for Childhood during the period, the charity intends to transfer it's assets and activities to Chance for Childhood within the 12 months following the period end date.
31