2025-12-31-accounts - Homes Of Promise

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HOMES OF PROMISE

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31ST DECEMBER 2025

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HOMES OF PROMISE

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2025

The Trustees present their report with the Financial Statements of the charity for the year ended 31st December 2025. The trustees have adopted the provisions of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK (SORP FRS 102)

Reference and Administrative Information

Name

The full name of the charity is Homes of Promise CIO. The charity uses the name Homes of Promise on its website and all of its literature

UK Registered Charity Number

1161750

Ugandan Registered NGO Number

11956

Charity's Principal Address

19 Ridings Avenue LONDON N21 2EL

Trustees

The following trustees served during the year:Mrs Jane Davidson (Chair) Reverend Ian Crofts Ms Heather Holgate Mr Geoffrey Hill (Treasurer) Mr James Davidson

Bankers

Barclays Bank PLC, Enfield Town Branch Stanbic Bank Uganda Limited, Garden City Branch, Kampala

Independent Examiner

Paul Reddaway

Structure,governance and management

The charity is a Charitable Incorporated Organisation and the Constitution is its governing document. Trustees are selected by invitation. The administration of the charity has been carried out by the treasurer and the chair. Mrs Jane Davidson manages the day to day running of the charity in Uganda. We have a Child Protection Policy and an Organisational Chart available on request. There is an office in John Paul II Justice & Peace Centre, Nsambya, Kampala, Uganda. There is no office in the UK and the officers operate from their own homes.

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HOMES OF PROMISE

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2025

Objectives and Activities

Homes of Promise primarily care for street boys in Kampala, Uganda, through George's Place, a transitional home for boys. We support the boys into full time education and vocational training.The new life skills enable these young people to reach their full potential. We take vulnerable boys off the street, registering and working with the local authorities. We locate and visit with each boy their family and home village, reconciling them with family where possible and appropriate. We are a Christian organisation working with boys and young people from different faiths and backgrounds. We also support other Christian Organisations, individuals and related initiatives in Uganda at the Trustees discretion. This is all in keeping with our objectives set out in our governing document. A summary of the objectives are to advance the Christian faith through the prevention or relief of poverty in Uganda and such other parts of the world as the trustees from time to time may think fit by the provision of shelter, education and healthcare and all necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.

Summary of Main Activities and Achievements

The work of Homes of Promise continued to grow and develop during 2025 although, as a community, we faced some tough challenges during the early part of the year. One of our staff members had been caring for a young relative who needed a heart operation. He was just 12 years old and sadly passed away in March. Only weeks earlier the mother of one of our young lads was murdered. Staff members attended the funeral with the grieving boy, who has seven younger siblings. But from that darkness came light, as later in the year we were able to provide for a brickbuilt house to be erected on the family’s small plot of land. It was constructed by one of our older boys who has been trained in building. Now the father is taking care of his children, the youngest of whom is only about two years old, in their new home.

In January our daily cook retired after working for us for nine years. Our weekend cook took on the position of daily cook and we have employed another for the weekends. Annual Appraisals for staff were held during February .

We had our Ugandan 2024 accounts audited and approved in March .

Throughout the year We had 10 boys in primary school. One of our younger lads passed his P7 exams at the end of 2024 and started in senior 1 at the beginning of 2025. One boy was in senior 2, two boys were in senior 3, with one in senior 4. All these boys achieved good results and have been promoted to the next classes. We are awaiting the results of the boy in senior 4 and will be looking for a place at a technical college for him. He also attended a three-month course in compute basics when he had finished his exams.

Five of our boys finished their two-year vocational training at the end of 2025, having taken their DIT (Directorate of Industrial Training) exams and they are now on internships. Two are in hairdressing, two in catering and one is in agricultural training. We resettled two of our older boys with their families during the year and we supported one boy with his rent while he undertook an internship in Kampala.

In April a young woman started work with us for eight months while our Finance Manager took three months’ maternity leave.

At Easter the boys went on a trip to the Scout Camp at Kazzi near Lake Victoria, enjoying a guided hike, treasure hunt and picnic, plus a blindfolded and barefoot challenge walk through the forest, crawling through mud trenches, with buckets of water thrown over them by the scouts. Most of the boys really enjoyed this, which of course was followed by a dip in the lake! We also had two other hikes during the year to different parts of Entebbe islands. The boys regularly attended the Football Academy throughout the year and went swimming twice. We received four secondhand bicycles

from the UK and all the boys are now able to ride a bike.

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HOMES OF PROMISE

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2025

Summary of Main Activities and Achievements (continued)

In June two new boys were rescued from the streets and are now attending Little Angels Primary School near George’s Place. They have settled well and we have found their relatives. One of the boys had a habit of running away from home and school, but this has not happened since he has been in our care, and we now have care orders in place.

Also in June we held a three-day residential camp for 11 of our boys who are in independent living, offering advice on life choices, health care and the challenges of saving money. The camp was led by a doctor, businesswoman and youth worker, to help the boys to transition into adulthood. We still have regular contact with many of our older boys who are living independently, especially those who have few or no relatives to advise and support them. One of our older boys is now working fulltime at the four-star Speke Resort Hotel as a pastry chef.

In August we held our annual camp, sleeping in tents, for 19 of the boys at the sailing club. None of the boys had been there before and they enjoyed the new environment by the lake, playing team games, hide-and-seek and football. There was an ‘Ask the Pastor’ question time around the evening campfire and, after a good night’s sleep, we held morning devotions with lots of good conversation. The older boys helped with food preparation with a rota for washing up, cleaning and sweeping. We visited a nearby hotel for swimming and basketball one morning and held a painting/art competition. The highlight of the camp was a trip on a sailing boat that someone had kindly agreed to take us on. A wonderful experience for the boys.

During the year we held two management meetings and were pleased to welcome the new Health Inspector from Katabi onto the board. He also conducted his annual inspection of the Home. Our offices continue to be in the John Paul II Justice and Peace Building in Nsambya. And one other piece of news: our Purchasing Manager got married in August in Rwanda and on the couple’s return in Uganda we celebrated with a party at the boys’ home.

Looking forward

In 2026 we will be holding a special party to celebrate our 10th anniversary as an NGO in Uganda. We are planning a service at an Anglican Church followed by lunch, entertainment by the boys, testaments and speeches. We are hoping to take in four new boys in March.

God continues to bless our work and we are thankful for the way we have progressed over the last 10 Years, reuniting street boys with their families and communities and changing young lives for the better in Uganda.

Public Benefit

The Charity Commission Public Benefit requirement is met by getting the street boys off the streets and out of the slums, by providing them with a safe place to live and stability for the future. The boys are supported and encouraged to enter education and vocational training. This provides the boys with the life skills needed to make a positive contribution to society, thus benefitting not just the boys and their families, but the public more widely.

Contribution made by volunteers

The whole UK operation is managed by volunteers. Apart from the trustees, we give thanks to all those who offer their time and support including emailing the weekly newsletters and updating our website. We also thank those who visit churches and groups on our behalf. We thank all our many knitters and those who have donated clothing and other items.

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HOMES OF PROMISE

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2025 Financial review

Our income comes from trusts, churches and individuals most of whom give on a monthly basis. The income decreased from £99412 in 2024 to £89780. Our expenses decreased from £94505 in 2024 to £94300 giving a deficit in the year of £4520. The vast majority of the expenses are spent in Uganda in the Ugandan currency. Local Ugandan accountants have audited the income and expenditure and these figures have been converted into £sterling at the average rate throughout the year for expenses and at exchange rate at the year end for current assets and liabilities as at 31st December 2025.

Mrs Jane Davidson spent much of the year in Uganda and some of the expenses were paid by her but cannot be quantified. .

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and Accounts in accordance with the applicable law and United Kingdom Accounting Standard

England and Wales requires the trustees to prepare accounts 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 resourcesof the charity for that period.

In preparing these accounts, the trustees are required to: Select suitable accounting policies and then to apply them consistently Observe the methods and principles of the Charities SORP

Make judgements and estimates that are reasonable and prudent

Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

By order of the board on 23rd July 2026 J K Davidson (Chair and trustee)

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HOMES OF PROMISE iNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOMES OF PROMISE

I report on the accounts of the Charity for the year ended 31st December 2025, which are set out on pages 6 to 11.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act; follow the procedures laid down in the general Directions given by the Charity Commissionunder section 145(5)(b) of the 2011 Act; and

state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinionis given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

1 which gives me reasonable cause to believe that, in any material respect, the requirements:

to keep accounting records in accordance with section 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the requirements of the Charities Act

have not been met; or

2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Paul Reddaway 15th July 2026 Fairview House, 6 Whitefield Close, Batheaston, BA1 7PU

Page 6

HOMES OF PROMISE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2025

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2025	STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2025
General Funds General Funds Note 2025 2024 £ £ Income Donations 3 89752 Repayment supplement 28 89780 Expenditure Charitable activities 4 94556 Governance costs (256) Total expenditure 94300 Net income (expenditure) (4520) Reconciliation of funds: Total funds brought forward 27867 Total funds carried forward 23347		99412 -
		99412
		90613 3892 94505
		4907 22960
		27867

The notes on pages 8 to 11 form part of these financial statements.

HOMES OF PROMISE BALANCE SHEET AS AT 31ST DECEMBER 2025 2025 Notes £ £ £ Fixed Assets Tangible fixed assets 5 1451 Current Assets Debtors 6 4219 Cash at bank and in hand 19143 23362 Current Liabilities Sundry creditors 1466 Net Current Assets 21896 Total Assets less Current Liabilities 23347 Charity Funds Unrestricted funds General funds 7 23347 23347	2024 £ 2990 24507 27497 1551	Page 7 1921 25946
		27867
		27867
		27867

The financial statements were approved by the Trustees on 23rd July 2026

Geoffrey S. Hill

The notes on pages 8 to11 form part of these financial statements.

Page 8

HOMES OF PROMISE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025

1 Accounting policies

a) Basis of preparation of financial statements

The financial statements have been prepared in accordance with 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 1st January 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Homes of Promise meets the definition of a public benefit entity as defined by FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Trustees are satisfied the charity has sufficient reserves and there are no material uncertainties to continue as a going concern for the forseeable future.

b) Legal status of the Charity

The Charity is a Charity Incorporated Organisation. The trustees are named on page 2. The registered contact address is 19 Ridings Avenue, London, N21 2EL.

c) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

d) Income

Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are received income from individual donors and organisations.

Income tax recoverable in relation to donations received under Gift Aid declarations is recognised at the time of the donation.

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HOMES OF PROMISE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025

1 Accounting policies (continued)

e) 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.

f) Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Motor vehicl 33% straight line Computer equipment 20% straight line

g) Debtors

Other debtors are shown at the settlement amount.

h) Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments.

i) Creditors

Creditors are recognised where the charity has an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement and the amount of the settlement can be estimated reliably.

j) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

k) Taxation

The charity is exempt from tax on its charitable activities.

HOMES OF PROMISE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025

Page 10

l) Foreign currency translation

Foreign currency transactions are recorded at the exchange rate ruling on the date of transaction. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the retranslation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognised in the Statement of Financial Activities.

m) Reserves

The charity have adopted a policy regarding reserves that should ensure that, excluding those funds represented by fixed assets, general reserves should be at a level commensurate to 3 to 6 months of planned operating expenditure. This is between £15,000 and £30,000.

n) Use of Volunteers

The charity from time to time relies on volunteers to be involved in the fund raising activities. This use of volunteers in the course of undertaking the charitable and income generating activities is not recognized within the Statement of Financial Activities.

3 Donations and Legacies £ Gifts from Individuals Gifts from individual received in Uganda Trusts, churches and schools Gift Aid from HM Revenue & Customs 4 Analysis of charitable activities expenditure George's Place Education, school and vocational Medical costs Christian support	2025 £ 60568 1684 22053 5447 89752 78785 14814 861 96 94556	2024 65167 4252 24623 5370 99412
		67133 22829 538 113 90613

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HOMES OF PROMISE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025

2024 13177 (13177)	2024 13177 (13177)	2024 13177 (13177)
0 13176 (13176)
1 2609 870 1739 477 233 62 295 182 1921 1001 1989 2990 19643 99412 (90613) (575) 27867 1921 25946 27867 4907 1309 826 (1675)		1 2609 870 1739
		477 233 62 295 182 1921
		1001 1989
		2990
	1921 25946
	27867
	4907 1309 826 (1675)

Net cash decrease operating activities (5364) 5367