REGISTERED COMPANY NUMBER: 09904428 (England and Wales) REGISTERED CHARrrY NUMBER.'1166877 REPORT OFTHE TRusfEES AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR FRESH HOPE BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Chellenham Glouce51ershire GL519TX
FRESH HOPE CONTEMfs OF THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 Page Reference and Admlnlstrative Details Report of the Trustees Independent Examlnets Report Slalemenl of Flnanclal Actlvltle8 Statement of Flnanclal Posltlon Notes to the Flnanclal Statom8nts 10 10 17
FRESH HOPE REFERENCE AND ADMINISTrAMVE DAlLs FOR THE YEAR ENDED 31 DECEMBER 2023 TRusfEES D P Lynch S Mclean A F Solomot) K Warner {resigned 31.8.23) D Heusch J Taylor (appointed l.1.231 S Harris lappoinled 1.3.241 C Workman18ppointed 23.5.241 REGISTERED OFFICE Trouville Baltledown Approach Chellenham Gloucestershire GL52 6RA REGisfERED COMPANY NUMBER 09904428 (England and Wales} REGISTERED CHARttY NUMBER 1166877 INDEPENDE EXAMINER BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire GL519fA SOLICORs BPE Solicitors LLP St James House Sl James Square Cheltenham GL50 3PR BANKERS Barclays PIC 128 High Street Chellenham GL50 IEG Page 1
FRESH HOPE REPORT OFTHE TRUSTEES FOR THEYEAR ENDED 31 DECEMBER 2023 The Iruslees who are also directors of the Charity for the purposes ol Ihe Companie5 Act 2006, present their report with the financial statements of the charity lor the year ended 31 December 2023. The trustees have adopted the provisions ol Accounllng and Rèporting by Charities.. Statement c*1 Recommended Practice applicable lo charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic DI Ireland (FRS 1021 lelleclive l January 20191. OBJECTIVES AND ACTivrriES Oble¢llves and aim5 Our charit515 purposes as sel out in the objects contained In the company's articles ol association are to.. To improve and transform the lives of individual people and communities, in such communities as the Iruslees may from time to time think fil, with special emphasis on, bul not exclusively, young people. vulnerable adults and disadvantaged familie5, by sponsoring. supporting and/or implementing ctsmmunity projects. To work with, encourage and provide opporlunities lor people in communities who have what they need, to work with those who do not, and so make the community a caring and healthy place to live lor all. We will do this by sponsoring, promoting and supporting a variety of projects delivering benefits lo thé community. Publlc benefti How our a¢tivitles delivar public benefit Currently. Fresh Hope has the following projects delivering benefit lo the public.. The School House Cate (SHC) Our aim in 2023 was to boost the levels ot community acllvilies in the SHC which had yet to recover lo pre-pandemic levels. Over the year we held numerous èvents including.. Pizza making Live music A children's Christmas party Many ol these events were allended by over 100 people from our community. We have also made ellorls lo create regular events which include.. A weekly #payasyouleel lunch club. Weekly holiday activities in partnership with Make Lunch. Dungeons and Dragons on a Saturday morning Board Game5 Lego Club Tea and cake for older isolated people in the community. 11 has beèn a pleasure seeing all ol the community use the sp3ce al the 5HC under the same roof. We have seèn an increase in families use the cale with the newly developed play room and increasing the events and activities on oller, more and more people are coming lo benefit IrDm the facilities. It is exciting to see the space used and the community viewing the cafe as a sale place lo come and somewhere they want lo be. The community lunch has allowed people who would not normally come into the cale to benefit from the space with a healthy hot meal each week and the rèlationships that have been built here are a real highlight and a working example ol the vision we want lo achieve. These ellorls are Set against a backdrop of really dillicult trading conditions. The cost ol living crisis and energy crisis, combined with high minimum wage increases has made it very difficult lor the SHC lo cover it5 Costs. The long term viability ol the SHC remains a concern. That said, WÈ rèceived a large grant in 2023 to allow us lo refurbish the kitchen and also a grant lo allow us to rèally focus on growing the use ol the SHC. Page 2
FRESH HOPE REPORT OFTHE TRusfEES FOR THEYEAR ENDED 31 DECEMBER 2023 OBJECTIVES AND AcMvmES The Cycle Project The projert provides cycle repair, servicing and the sale DI refurbished bikes. Thi5 project grew rapidly in 2023 with up to 6 volunteers helping. This has allowed us to repair. servi¢e, sell and give away lar more bikes in 2023. Jlgsaw (oulreach to vulnerable famllles) The Panlry opened in March 2023 and over the year has provided food lo over 50 lamllies in Ihè community. For a £4 weèkly membership lee, families are provided with 10 shell items, two fridge or freezer items and frèe fresh fruit and vegetables. We have also added recipe bag5 to our Dllering. We have seen grèat CDllaboralion as part ol this project including working with the Rock who provide Space and working with Chellenham is Growing whd provide very locally grown Iruil and vegetables. We continue to run a toddler group on a Monday at the SHC and feeding 'free school meal" familie5 in the school holidays. The Armoury IA communlly gym) 2023 saw the Arrnoury growing both Membership and Personal Training and saw a big increase in Ihe sense ol community reinforced by a number of large social events. We also supported other charities by providing classes and qualified slafl lo them, with a view to Èxtending the geographical range ol our service5. Financial performance was ok bul we will need to perhaps double the curront membership lo create a sustainable model that can be replicated. Delivering these public benefits would not lje possible wilhoul.. Our staff who continue to show real compassion for the communities they serve while dellvering a prole55ional service ID our CLlStomers', The tirele55 efforts ol the volunteers who run some ol the projects and who marsage and run the charity as a whole., The cu51omer5 01 both the School House Cale and the Armoury gym, who have continLtred lo support us with their custom. We are thankful lor the continued financial support of the Life Development Fund ol Gloucester Diocese. We have been delighted and humbled by the number ol int5ividuals who continue lo support our work financially. It would be inappropriate to mention names here but our heartfelt thanks lo each and évery one ol you. Our Values Al Fresh Hope we aspire to live out our values.. Community we are pa5sionale about building inclusive and authentic communitie5, generating joy and a sense ol belonging. Compasslon we are kind, warm and generous lo everyone wè encounter. Integrlty we acl in an honest and open way. treating each other with dignity and respect. Teamwork we achieve more when we tollaborale and all work together. FINANCIAL REVIEW Reserves pollcy Cash flow is good, but overall nel reserve5 remain below 3 months operational costs Page 3
FRESH HOPE REPORTOFTHETRUSfEES FOR THEYEAR ENDED 31 DECEMBER 2023 FUTURE PLANS We remain open lo exploring opportunities lo reproduce both the School House Cafe and The Armoury in othèr locations. We continue to discuss wilh Gloucester Diotese what a more formal partnership might look like. STRUCTURE, GOVERNANCE AND MANAGEMEKr Govèrnlng document The organisalion is a charitable company limited by guarantee, incorpDraled on 7 December 2015 and registered a5 a charity on 3 May 2016. The company was established under a Memorandum DI Association and is goverhed under its Articles ol Association which established the objects and powers ol the charitable company. In thè èvent ol the company being wound up members are requirèd to conlribule an amount not exceeding £10. R8cruitm8nt and appolnlmenl of new truste•s The directors ol the company are also charity Iruslees lor the purpDSèS ol charity law and und&r the ompanls Articles are known as members. Under the requirements of the Article5 01 Association. which established the objects and powers ol the charitable company, one third of the director5 must retire each year Ilonger serving since election firstl bul can be re-elected at thè nexl Annual General Mèeting. Al the Annual General Meeting held on 13th July 2023, David Lynch and Tony Solomon resigned as direclors and were re-eletted. All member ol the company give their lime voluntarily and received no benèfits from the charlly. Any expenses reclaimed from the charity are sel out in note 10 to Ihe account5. Trustee Induction and Tralnlng The trustees continue lo work together to develop both the governlng documents of the charity and also the purp05e and vision of the charity. All are provided with links lo material provided by both the Charity Commission and Companies House on the roles and responsibilllles ol a Trustee and Director. Most ol the Trustees are already familiar with these due to ather positions that they hold. Related partles Fresh Hope WDrks cullaboratively with a number ol organisations not least Sl Paul's Church, Chellenham, where the Calé 15 based and Holy Trinity, Chellenham wher& the Armoury is based. However, based upon the definition ol a related party in IA524, Fresh Hope has no related parties. Risk manag8menl The Directors consider risks as part ol their monthly board meeting. Most risks are revlewed every month including operational, financial and safeguarding. The overall risk lag is formally reviewed on an anrnual basi5. srATEMENf OFTRusfEES' RESPONSIBILITIES The trustees Iwho are also the directors ol Fresh Hope lor the purposes of company lawl are re5pon5ible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporliny Standard 102 "The Financial Reporting Standard applicable in thè UK and Republic ol Ireland. Company law requires the truslèes to prepare financial statements for each financial year which give a truè and lair view ol the state ol allairs ol the charitable company and ol the incoming resources and pplication ol resources, including the income and expenditur&, ol the charitable company for that period. In preparing those financial slalements, the trustees are required lo select suitable accounting policies and then apply them consistently., observe the mélhods and principles in the Charity SORP.. make judgemènts and eslimales that are reasonable and prudent., prepare the financial statements on the going concern basis unless il Is inappropriate lo presurne Ihal the charitable company will continue in business. Page &
FRESH HOPE REPORTOFTHETrUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMEMf OFTRusfEES' RESPONSIBILmES- eontlnued The trustees are responsible lor keeping proper accounting records which disclose wlth reasonable accuracy at any time the financial position ol the charitable company and to enable them lo ensure that the financial 51alements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets ol the ch3rilable company and hence lor taking reasonable steps for the prevenlian and detection ol fraud and other irregularities. This report ha5 been prepared in accordance with the special provisions of Parl 15 ol the Companies Act 2006 relaling to small companie5. Approvéd by order of the board ol trustees on 6 August 2021 and signed on ils behalf by. D P Lynch - Trustee Page 5
INDEPENDE EXAMINER'S REPORTTO IHE TRusfEES OF FRESH HOPE Independent examinerfs report lo Ihe trustee5 of Fresh Hope Vhe Compan report to the charity Iruslees on my examination ol the accounts ol the Company lor the year ended 31 Decembèr 2023. R•sponsSbililies and basls Ot report As the charity's trustees ol the Company land also its director5 for the purposes of company lawl you are responsible for the preparation ol the accounts in accordance with the requiremen15 01 the Companies Act 2006 Clhe 20D6 Act'l. Having satisfied myself that the accounts ol the Company are not required lo be audited under Parl 16 01 the 2006 Act and are eligible lor ind2pendenl examination, I report in re5pe¢l ol my examination ol your harity's accounts as carried out under Section 145 01 the Charities Act 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independenl examin•rfs statement I have completed my examination. I confirm that no mallers have comè to my allenlion In connèction with the examination giving me cause to believe.. accounting records were not kepl in respect ol the Company as requirèd by Seclion 386 01 the 2006 Act., or the accounts do not accord with those records., or thè accounts do not comply with the accounting requirements of Secllon 396 of the 20D6 Act other than any requirement that the accounts give a true and lair view which is not a matter considered as part ol an independent examination., Dr the accounts have not been prepared in accordance with the methods and principles ol the Statèment ol Recommended Practice lor accounting and reporting by charitiès (applicable lo charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS10211. I have no concern5 and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding ol the accounts lo be reached. Cinzia Hensley FCA BK Plus Limited 6 Manor Park Business Centre Mackenzie Way CheltÈnham Gloucestershire GL519TX 6 August 2024 Page 6
FRESH HOPE 5rATEmE OF FINANCIAL ACIIVMES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Total funds Unreslricled Reslricled fund funds Notes INCOME AND ENDOWMEKfs FROM Donations and legacies 47,123 47.123 27,493 Charttable adivllies Charitable 84.780 8&,780 Olher trading activitie5 114,678 114,678 128.871 Total 161,801 84,780 246,581 156.364 EXPENDttURE ON Charltable adivities Charitable 178,415 1.700 180.115 161b,256 NEf INCOMVIEXPENDttURO 116,614) 83,080 66,466 17,8921 RECONCILIATION OF FUNDS Total funds brought forward 18.539 2,100 20.639 28.531 TOTAL FUNDS CARRIED FORWARD 1,925 85,180 87,105 20,639 The notes fc*rm part ol these financial statements Page 7
FRESH HOPE srATEMENT OF FINANCIAL posrnoN 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Total funds Unreslricled Reslricled fund funds Notes FIXED ASSETS Tangible 3SSèts 1,834 1,680 3.514 5,260 cuRREASSE[s Stocks Debtors Cash al Iiank 12 13 1,724 2,431 3.034 1,724 2,431 86,534 1,2114 2,441 22,316 83.500 7.189 83,500 90,689 25,971 CREOtroRS Amounts falling due within one year 14 (7,098) 17.098) 110,5921 NEf CURRE ASSErs 91 83,500 83.591 15,379 TOTAL ASSEfs LESS CURREKf LIABILrnES 1.925 85,180 87,105 20,639 NAsSErs 1,925 85,180 87,105 20.639 FUNDS 15 Unrestricted funds Reslricled funds 1.925 85,180 18,539 2,100 TOTAL FUNDS 87.IC15 20,639 The charitable company is entitled lo exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The mèmbers have not required the company to obtain an audit ol ils financial slalemenls lor Ihe year ended 31 December 2023 in accordance with Section 476 01 the Companies Act 2006. The Iruslees acknowledge their responsibilities lor (al ensuring that the charitable company keeps accounting records that comply with Section5 386 and 387 01 the Companies Act 2006 and preparing financial statemen15 which give a true and fair view of the slate of affairs ol the charilable company as at the end DI each financial year and of ils surplus or deficit for each financial year in accordance wilh the requirements ol Sections 394 and 395 and which otherwise comply with the requiremen15 01 the Companie5 Acl 2006 relating lo financial Statements, so lar as applicable lo the charilable company. {bl The notes form part ol these financial 51atemenls Page 8 continued...
FRESH HOPE srATEMENT OF FINANCIAL posmoN - contlnued 31 DECEMBER 2023 These financial statements have been preparèd in accordance with the provisions applicable to charitable companies subject lo the small companies regime. The financial slalements were approved by the Board ol Trustees and authorised lor issue on 6 August 2024 and were signed on its behalf by.. D P Lynch - Trustee The notes form part of these financial statements Page 9
FRESH HOPE NOTES TO THE FINANCIAL STATEMENrs FOR THEYEAR ENDED 31 DECEMBER 2023 ACCOUKnNG POLICIES Basis of preparlng the flnanc141 statements The lin3ncial statements of the charitable company, which is a public benefit Èntity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities-. Statement of Recommènded Practice applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 lelleclive l January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Irel3nd' and the Companies Act 2006. The financial statements have been prepared under the hislorlcal cost convention. Income All income is recoynised in the Staternenl of Financial Activities once the ¢harity has enlillement to the funds. il is probable that the income will be received and the arnounl can be measured reliably. Expendituro Liabilities are recognised a5 expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, it is probable that a transfer ol economic benefits will be required in settlement and the amount ol the obligation can bè measured reliably. Expèndilure is accounted lor Dn an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly allribuled lo particular headings they have bèen allocated to activities on a basis consistent with the use ol resources. Tangible fix8d assets Dèpreciation is provided al the following annual rates in order lo writè oll each a55el over ils estimated useful life. Fixture5 and fittings Computer equipment 101* on cost 33/• on cost Items ¢051ing less than £1,000 are not capitalised. Stocks Stocks are valued at the lower ol Cost and nEt realisable value, alter making due allowance for obsolete and slow moving itèms. Taxailon As a recognised charity, the company is exempl from Corporation Tax 50 lar as it relates lo ils charitable objects. 11 is not, however, èxempl from VAT, and irrecoverable VAT 15 included in the cost ol those items to which il relates. Fund accounllng Unreslricled funds can be used in accgrdance with the charitable objectives al the discretion of the Iruslees. Restricted funds can only bè used lor particular reslricled purposes wilhin the objects ol th& charity. Restrictions arise when specified by the donor or when funds are raised lor particular restricted purposes. Further explanation ol thè rhature and purpose of èach fund is included in the notes lo the financial slalemenls. Pagè 10 continued.
FRESH HOPE NOTES TO THE FINANCIAL grATEMENTS- conllnued FOR THE YEAR ENDED 31 DECEMBER 2023 DONATIONS AND LEGACIES 31.12.23 31.12.22 DonatlDns 45,252 1,871 25,327 2,166 47,123 27.493 OTHER TRADING ArnvmES 31.12.23 31.12.22 Calé and gym income Other income 114.622 56 128,871 114,678 128,871 INCOME FROM CHARrrABLE ACTIVfflES 31.12.23 31.12.22 Activity Charitable Grants 84,780 Grants received, included in the above, are as follows.. 31.12.23 31.12.22 Glouceslershire County Council Glouceslershire Diocesan Board Cheltenham Borough Council 50,000 33,500 1,280 84,780 CHARrrABLE ACTIVMES cosrs Direct Costs (see note 61 Support costs (see note 71 Totals Charilable 179,363 752 180,115 Page 11 continued...
FRESH HOPE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 DIRECT cosrs OF CHARrrABLE ACnVfflES 31.12.23 31.12.22 stall c0515 Sundries Catering supplies Uniform and clothing Rent and rale5 Marketing. printing and stationery Charitable donations Insurance Bank charges Repairs and renewals Bad debts Depreciation 109,317 2,143 52,337 1,623 4,400 324 4,747 1.358 55 1,313 106,241 1,618 44.03Q 2,400 854 4,076 1,469 208 1,068 11991 1,746 1,746 179,363 163,511 SUPPORT cosrs Governance costs Charitable 752 Support cos15, included in the above, are as follows.. 31.12.23 31.12.22 Total Charitable Independent examiner fÈè 752 745 NEf INCOMEIIEXPENDMJRE) Nel incomellexpenditurel is slated afler charging/lcredilingl'. 31.12.23 31.12.22 Deprecialion - owned assets 1,746 1,746 Page 12 continued...
FRESH HOPE NOTES TO THE FINANCIAL sfATEMEMfs- contlnued FOR ThEYEAR ENDED 31 DECEMBER 2023 TRUSTEES. REMUNERATION AND BENEFtrs There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor lor thè year ended 31 December 2022. Trust8gs' expenses There were no trustees, expenses paid for the year ènded 31 December 2023 nor lor the year ended 31 December 2022. 10. srAFF cosrs The average monthly number ol employees during the year was as follows: 31.12.23 19 31.12.22 15 No employees received emoluments in excess of £60,000. TANGIBLE FIXED ASSErs Fixtures and Computer equipment Totals COST At l January 2023 and 31 Dècèmber 2023 13,264 10,030 23.294 DEPRECIATION Al l January 2023 Charge lor year 8,004 1,746 10,030 18,034 1,746 At 31 December 2023 9.750 10,030 19,780 NEf BOOKVALUE At 31 December 2023 3.514 3,514 At 31 December 2022 5,260 5,26D 12. STOCKS 31.12.23 31.12.22 Stocks 1,724 1.214 Page 13 continued...
FRESH HOPE NOTES TO THE FINANCIAL sfATEMENTS - ¢onlinued FOR THE YEAR ENDED 31 DECEMBER 2023 13. DEBTORS: AMouNfs FALLING OUE WThIN ONE YEAR 31.12.23 31.12.22 Trade debtors Other debtors Prepayments 412 1.747 272 1,236 1,205 2,431 2,441 cREDoRS. AMOUNTS FALLING DUE wrrHIN ONEYEAR 31.12.23 31.12.22 Trade creditors VAT olher creditor5 Accrued expense5 337 2,322 3,623 816 319 1,663 7.818 792 7,098 10,592 15. MOVEME IN FUNDS Nel movement in funds At 31.12.23 Al 1.1.23 Unrestricted funds General fund 18,539 116,614) 1,925 Reslricl•d funds Enhancement Fund Special Project Diocese SHC Support Kitchen Project 2023 2,100 14201 33,500 50,000 1,680 33,500 50,000 2,100 83,080 85.180 TOTAL FUNDS 20,639 66.466 87,105 Net movement in funds, included in the above are BS follows.. Incoming resources Resources expended Movement in funds Unreslrlclod funds General fund 161,801 1178,4151 116.6141 Reslrlcted funds Enhancement Fund Special Project Diocese SHC Supporl Jigsaw summer activities Kitchen Project 2023 1420) 14201 33.500 33,500 1,280 50,000 11,280) 50,00 84,780 {1.7001 83,080 TOTAL FUNDS 246,581 66,A66 Page14 continued...
FRESH HOPE NOTES TO THE FINANCIAL sfATEMENTS _ conllnued FOR THE YEAR ENDED 31 DECEMBER 2023 15. MOVEMENf IN FUNDS - contlnued ComparallY•s for movement In funds Nel movement in funds Al 31.12.22 Al 1.1.22 Unrestrlcted funds General fund 26,011 17,4721 18,539 Restricted funds Enhancement Fund 2,520 14201 2.100 TOTAL FUNDS 28,531 17,892} 20,639 Comparative net movement in funds. included In the above are as follows.. Incoming resources Resources expended Movement in fLknds Unrestricted funds General fund 156,364 1163.8361 17,4721 Restrlcled Iunds Enhancement Fund 1420) 14201 TOTAL FUNDS 156,364 1164.2561 (7,8921 A current year12 months and prior year 12 months combined position is as follows.. Nel movement in funds At 31.12.23 Al 1.1.22 Unrestrlcled funds General fund 26,011 124,086) 1,925 Reslricled lunds Enhancement Fund Special Project Diocese SHC Support Kitchen Project 2023 2.520 18401 33,500 50,000 1.680 33,500 50,000 2.52D 82,660 85.180 TOTAL FUNDS 28,531 58.574 87,105 Page 15 continued...
FRESH HOPE NOTES TO ThE FINANCIAL sfATEMENTS - contlnu•d FOR ThEYEAR ENDED 31 DECEMBER 2023 15. MOVEME IN FUNDS- conllnued A current year 12 months and prior year 12 months combihed nel movement in funds, included in the above are as follows.. Incoming resources Resourcès expendÉd Movement in funds Unreslricled funds General fund 318,165 1342,2511 124,0861 Reslrlcted fvnds Enhancement Funé Special Project Diocese SHC Support Jigsaw summer activities Kitchen Project 2023 18401 18401 33,500 33.500 1,280 50,000 11,2801 50.000 84,780 12,1201 82,660 TOTAL FUNDS 402,945 1344,3711 58,574 Transfers between funds Transfers are made between reslricled and unrestricted funds al the end of every accountin9 period in cases where:_ il the activity ol the restricted fund has come lo an end and there is an unspent balance that Is not repayable to the lunderl51, when the surplus is Iran51errÈd to unrestricted funds,. or ill the restricted fund is in deficit and has either come lo an end or there is no pr05pe¢t of a surplus in a later period, when the deficit is eliminated by Iran51er from unrestricted funds,. or iiil income that is received in the restricted lund covers in parl some of the costs In the unrestricted funds. Details of unrestricted funds.. Kltchen Prolecl 2023 Cheltenham Borough Council awarded us £50k lo renovate the School House Cafe kilchEn. Speclal Project- Diocese SHC Support Fund The Diocese of Gloucester awarded us £50k1£33.5k received so larl. This was lo allow u5 to employ two people lor Iwo years, whose job it is lo grow the use ol the Cafe and to help manage the Cale in order lor it to become financially sustainable Page 16 continued...
FRESH HOPE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 16. RELATED PARTf DISCLOSURES In a previous period, Mr D Lynch, a director loaned the charity £3,191. The amount due lo the relaled party at the year end was £3.191 12022.. £3,191). this transaction took place on an arms-length basis and 15 repayable on demand. Page 17