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← Hope2sleep

2023-12-31-accounts

Charity number: 1168089

HOPE2SLEEP

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

HOPE2SLEEP

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 - 24

HOPE2SLEEP

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees C A Murphy T P Brown, Vice Chair S Backway, Chair K Danville, Treasurer

Charity registered number 1168089 Principal office 85 Ings Road Hull East Yorkshire HU8 0SD Chief executive officer K Hope Accountants Streets LLP Chartered Accountants Halifax House 30 George Street Hull HU1 3AJ

Page 1

HOPE2SLEEP

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2023 to 31 December 2023.

Objectives and activities

a. Policies and objectives

The advancement of health by raising awareness of symptoms and the treatments available for those suffering from Sleep Apnoea and UARS (Upper Airways Resistance Syndrome) and all forms of Sleep Disordered Breathing, by providing support and advice for sufferers and carers during the process of diagnosis and treatment.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The trustees are aware of the Charity Commission guidance on public benefit and are confident that all activities meet this guidance.

c. Activities undertaken to achieve objectives

Page 2

HOPE2SLEEP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

At the beginning of 2023 we were able to start renovations on the new space upstairs which is still an ongoing project. In this respect we were very grateful for the £2,000 grant given to us quickly for urgent guttering repairs to prevent further wall damage from the 'Sir James Reckitt Charity.' We are also immensely grateful to those we support who, despite the cost of living crisis, still kindly gave us extra donations in the sum of approximately £10,000 for our charitable work.

Philips Respironics began the year announcing a CPAP and ventilator Field Safety Notice regarding their masks containing magnets, and Resmed followed with the same Field Safety Notice towards the end of the year for all their masks with magnetic fastenings. This concerned patients who have the contraindicated pacemakers and other medical implants that interact with magnets, and we relayed this important information to the patients and advised them to contact their clinics, along with trying to advise patients of alternative suitable masks. There were also a lot of shortages of Philips Respironics' masks during most of 2023, which brought extra challenges. This situation also meant a lot more patients travelled to our charity premises in Hull from all areas of the UK for our free mask fitting service.

The worldwide CPAP shortage improved gradually throughout the year, but waiting lists did not at a lot of the sleep clinics, causing frustration to patients and clinics alike. Waiting lists cause extreme anxiety amongst patients who suspect they're living with untreated Sleep Apnoea, and even more so when patients are diagnosed and told there's a long wait for treatment! Lots of time was needed spending on supporting patients through this anxious period and put extra pressure on our own sleep apnoea diagnostic service. We also introduced a free remote telemonitoring service for CPAP machines we supply so that patients can be supported with their therapy, and many clinics are finding this service helpful, as even though they can't always supply patients with CPAP machines in a timely manner, we are able to share efficacy CPAP therapy reports with the clinics to help them care for their patients until they are able to supply them with the equipment.

Online events continued and one of these involved us giving a presentation to the ONS (Office for National Statistics) Men's Network. At the end of this presentation a quick poll was shared, and out of all the attendees it was discovered that 47% of the men started to suspect they may be suffering from Obstructive Sleep Apnoea as a result of our presentation, and intended to visit their GP!

We also held a very informative webinar about the mostly unknown link between patients with Obstructive Sleep Apnoea (OSA) and eye conditions such as Floppy Eyelid Syndrome, Glaucoma and Papilloedema, as well as other eye problems like Cataracts. Mr Sid Goel, Consultant Ophthalmic Surgeon at the Eye Correction Centre and in the NHS kindly gave us his time to present this education.

We were able to travel to more face-to-face events this year after a difficult few years due to the pandemic. We attended a Patient Support Event at the Great Western Hospital in Swindon, The ARTP (The Association for Respiratory Technology & Physiology) Conference in Brighton and the BSS (British Sleep Society) Conference in Leeds (both the latter being to promote the work our charity do for diagnosed NHS patients), as many sleep clinicians from lots of UK sleep clinics attend these conferences. We joined with a local Menopause Charity and MP, Emma Hardy, to raise awareness of Sleep Apnoea which is very common during menopause.

A new event we attended this year was the 2-day Respiratory Professional Care event at NEC Birmingham where our aim was to raise awareness of Sleep Apnoea and also promote our charitable work. The event, although expensive, was a huge success, as lots of GP's attending and other NHS clinicians were so interested in learning more about Sleep Apnoea and how common the condition is, that we ran out of leaflets on day 2!

Our heartfelt thanks goes to Menzie's Distribution who extended their support to us as a charity partner again for 2023, and not only did they kindly donate £1,500 to us from their own charity events, but they also offered to transport our exhibition display to most of the above events around the UK which was an enormous financial help to us.

Page 3

HOPE2SLEEP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance (continued)

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Page 4

HOPE2SLEEP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance (continued)

We continued to participate in trials and research acting as the PPI (Patient and Public Involvement) Organisation, and one of these trials which started in 2018, but had long hold-ups due to the COVID pandemic, was the TESLA Trial for providing Transcutaneous Non-invasive Electrical Stimulation as an alternative therapy for OSA (Obstructive Sleep Apnoea). Finally, in August 2023 the trial results were published and it was a very rewarding experience to be part of such a professional and committed team of researchers conducted jointly by King's College London and Guy's and St Thomas' Hospital, led by Dr Ratneswaran and Professor Steier on behalf of the TESLA investigator group. The study can be found at The Lancet https://www.thelancet.com/ journals/eclinm/article/PIIS2589-5370(23)00289-4/fulltext

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The amount of people we support continues to grow week by week and it was estimated in 2023 we were currently supporting around 23,000 patients and we welcomed a new valued full time member of staff to our team, Sue Fox, who brought to us 45 years’ worth of experience in administration and finance, having left her previous job of 35 years to join our passionate hard-working team.

Page 5

HOPE2SLEEP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance (continued)

We may be a small staff team supporting a huge amount of people and running a large e-commerce website and physical store which provides the main source of funding the charity. However, if it was not for our passionate trustees and volunteers this would not be possible, and we never forget to give them all continuous thanks for their commitment too, as the work we do is so important to save and improve lives, health and wellbeing!

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

In accordance with the guidelines issued by the Charity Commission, the Trustees have adopted a policy to ensure the Charity is able to meet all current and expected liabilities. The Trustees review the reserves annually and consider whether the current level held by the charity is sufficient for its continued operation. The Trustees’ intention is for the funds of the charity to be used on aiding sufferers of Sleep Apnoea and any other sleep disordered breathing.

The total reserves of the charity on 31 December 2023 amounted to £193,179 (2022: £170,101), of which £191,579 (2022: £165,756) were unrestricted and £1,600 were restricted (2022: £4,345). Much of the charity’s unrestricted funds consist of liquid assets with the remainder comprising fixed assets of £167,543 (2022: £178,322).

Income and expenditure have both risen at a commensurate rate in recent years due to the growth of the charity. However, the charity continues to see a positive net movement in funds each year and holds enough reserves in liquid form to be able to pay off any and all short term debts, whilst also continuing to provide aid to those with sleep disordered breathing problems, therefore showing no liquidity issues.

c. Principal risks and uncertainties

The charity is mindful of risks regarding the health of the people they support and do not attempt to give medical advice, and always signpost patients to receive the professional help they require. However, the advice and support they give for the comfort issues with patients on CPAP and non invasive ventilation does help patients comply with their therapy which has a positive effect on their overall health.

Due to the rapid rate at which the charity is still growing, the Trustees are aware that the staff and volunteers also needs to grow in proportion, as the current staff are often stretched to capacity. We hope to address this in 2024/25.

The majority of our funding comes from product sales, and in this respect we are aware we also need to acquire more external funding/grants, despite the fact that we are so grateful at the amount of donations that continue to be given to us from those we support – even during this cost of living crisis we are all in.

Page 6

HOPE2SLEEP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

d. Principal funding

Income received by the charity is from 3 main income streams, being product sales, donations and grants.

Structure, governance and management

a. Constitution

The principal object of the charity is to provide advancement of health by raising awareness of symptoms and the treatments available for those suffering from Sleep Apnoea, and by providing support and advice for sufferers and carers during the process of diagnosis and treatment.

Hope2Sleep is a registered charity, number 1168089, governed by a CIO - Foundation dated 01 March 2016.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co opted under the terms of the CIO - Foundation dated 01 March 2016.

c. Organisational structure and decision-making policies

The charity is governed by the Trustees, who determine strategic direction and policy. The Board meets every 1-2 months.The day to day running of the charity is carried out by the Trustees and CEO and decision making is agreed at the regular Trustee Meetings.

d. Related party relationships

The Trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind. Trustee expenses are refunded for travel, accommodation and out-of-pocket expenses when carrying out charity work, in accordance with Charity Commission’s guidelines.

e. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

f. Principal activities

Page 7

HOPE2SLEEP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Plans for future periods

The charity intends to continue meeting charity objectives into the future by continuing this year's activities as described in the trustees report above.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the CIO - Foundation. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

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................................................ S Backway

Date: 27th September 2024

Page 8

HOPE2SLEEP

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Independent Examiner's Report to the Trustees of hope2sleep ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Dated: 27 September 2024

Andrew Manderfield FCA

Streets LLP, Halifax House, 30 George Street, Hull, HU1 3AJ

Page 9

HOPE2SLEEP

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
26,017
568,219
594,236
570,891
570,891
23,345
2,478
25,823
165,756
25,823
191,579		 Restricted
funds
2023
£
-
-
-
267
267
(267)
(2,478)
(2,745)
4,345
(2,745)
1,600		 Total
funds
2023
£
26,017
568,219
594,236
571,158
571,158
23,078
-
23,078
170,101
23,078
193,179		 Total
funds
2022
£
12,495
553,598
566,093
557,279
557,279
8,814
-
8,814
161,287
8,814
170,101

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 24 form part of these financial statements.

Page 10

HOPE2SLEEP

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
Fixed assets
Tangible assets
8
Current assets
Stocks
9
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
12
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
13
Unrestricted funds
13
Total funds		 104,538
25,972
24,212
154,722
(45,326)		 2023
£
167,543
167,543
109,396
276,939
(83,760)
193,179
193,179
1,600
191,579
193,179		 99,840
34,592
14,718
149,150
(66,762)		 2022
£
178,322
178,322
82,388
260,710
(90,609)
170,101
170,101
4,345
165,756
170,101

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

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................................................

S Backway

Date: 27th September 2024

The notes on pages 12 to 24 form part of these financial statements.

Page 11

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. General information

As set out in the Trustee's report, Hope2Sleep CIO is a registered charity in England & Wales. The principal office of the charity is 85 Ings Road, Hull, East Yorkshire, HU8 0SD.

The principle objective of the charity is the advancement of health by raising awareness of symptoms and the treatments available for those suffering from sleep apnoea, and by providing support and advice for sufferers and carers during the process of diagnosis and treatment.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Hope2Sleep 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.

2.2 Income

All 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.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Page 12

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Tangible fixed assets and depreciation

Tangible fixed assets costing £75 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Freehold property - Straight-line over 50 years
Fixtures and fittings - Straight-line over 5 years
Office equipment - Straight-line over 5 years

2.5 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and 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.

Page 13

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.8 Liabilities and provisions

Liabilities are recognised when there is 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.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.9 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.10 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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 14

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Income from donations and legacies

Donations
Grants
Total 2022
Income from charitable activities
Product sales		 Unrestricted
funds
2023
£
24,017
2,000
26,017
10,495		 Restricted
funds
2023
£
-
-
-
2,000
Unrestricted
funds
2023
£
568,219		 Total
funds
2023
£
24,017
2,000
26,017
12,495
Total
funds
2023
£
568,219		 Total
funds
2022
£
10,495
2,000
12,495
Total
funds
2022
£
553,598

4. Income from charitable activities

Page 15

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Analysis of expenditure by activities

Support for sufferers of Sleep Apnoea and
related disorders
Total 2022
Analysis of direct costs
Product purchases
Postage & packaging
Sewing services
Diagnostic Sleep Study		 Activities
undertaken
directly
2023
£
329,178
334,392		 Support
costs
2023
£
241,980
222,887		 Total
funds
2023
£
571,158
557,279
Total
funds
2023
£
274,634
46,700
1,608
6,236
329,178		 Total
funds
2022
£
557,279
Total
funds
2022
£
289,469
39,809
1,194
3,920
334,392

Page 16

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Advertising
Stationery & printing
Website
Telephone, & computer costs
Bank charges
Sundry
Travel
Insurance
Professional fees
Accountancy
Repairs
Utilities
Subsistence
Promotional events
Rent & rates
Health & safety		 Total
funds
2023
£
160,247
15,522
845
3,189
1,590
9,280
19,410
2,914
4,683
2,369
-
2,380
5,926
5,264
851
5,266
1,974
270
241,980		 Total
funds
2022
£
141,146
10,999
446
3,633
679
9,886
13,446
2,972
2,201
1,584
2,524
1,575
23,687
3,582
485
1,898
1,853
291
222,887

Page 17

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
146,311
10,521
3,415
160,247		 2022
£
129,624
8,539
2,983
141,146

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
4 4

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity comprise the Trustees and the Chief Executive Officer. Wages and salaries paid to key management personnel (including employers pension contributions) totalled £60,713 (2022: £54,172).

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 December 2023, expenses totalling £2,682 were reimbursed or paid directly to 4 Trustees (2022 - £942 to 2 Trustees) .

Page 18

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. Tangible fixed assets

Cost or valuation
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
Stocks
Finished goods and goods for resale		 Freehold
property
£
138,000
-
138,000
-
2,760
2,760
135,240
138,000		 Fixtures and
fittings
£
9,975
423
10,398
7,472
852
8,324
2,074
2,503		 Office
equipment
£
64,674
4,319
68,993
26,855
11,909
38,764
30,229
37,819
2023
£
104,538		 Total
£
212,649
4,742
217,391
34,327
15,521
49,848
167,543
178,322
2022
£
99,840

9. Stocks

Page 19

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments		 2023
£
1,359
4,831
19,782
25,972		 2022
£
17,664
3,549
13,379
34,592

11. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals & deferred income
Resources deferred during the year		 2023
£
6,849
20,292
4,607
250
13,328
45,326
2023
£
7,518		 2022
£
-
50,907
3,890
8,106
3,859
66,762
2022
£
-

12. Creditors: Amounts falling due after more than one year

2023 2022
£ £
Bank loans 83,760 90,609

Page 20

HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Covid-19 Support
Hospital Saturday Fund
Total of funds		 Balance at 1
January
2023
£
165,756
2,478
1,867
4,345
170,101		 Income
£
594,236
-
-
-
594,236		 Expenditure
£
(570,891)
-
(267)
(267)
(571,158)		 Transfers
in/out
£
2,478
(2,478)
-
(2,478)
-		 Balance at
31
December
2023
£
191,579
-
1,600
1,600
193,179

General funds:

The general funds held are used to finance the daily operations of the charity.

Restricted funds:

Covid-19 Support

In 2020 a donation of £5,000 was received from a member of the public to be used specifically for COVID-19 support. Due to difficulty spending the money on alleviating COVID-19 suffering permission was given by the donor in 2023 to move this balance from restricted to unrestricted.

Sleep Apnoea Support

In 2022 a grant was received from Hospital Saturday Fund to be used for providing a free sleep study for potential sleep apnea sufferers.

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HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
Covid-19 Support
Total of funds		 Balance at
1 January
2022
£
157,934
Balance at
1 January
2022
£
3,353
161,287		 Income
£
564,093
Income
£
2,000
566,093		 Expenditure
£
(556,271)
Expenditure
£
(1,008)
(557,279)		 Balance at
31
December
2022
£
165,756
Balance at
31
December
2022
£
4,345
170,101

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HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 31
January Transfers December
2023 Income Expenditure in/out 2023
£ £ £ £ £
General funds 165,756 594,236 (570,891) 2,478 191,579
Restricted funds 4,345 - (267) (2,478) 1,600
170,101 594,236 (571,158) - 193,179
Summary of funds - prior year
Balance at
Balance at 31
1 January December
2022 Income Expenditure 2022
£ £ £ £
General funds 157,934 564,093 (556,271) 165,756
Restricted funds 3,353 2,000 (1,008) 4,345
161,287 566,093 (557,279) 170,101

15. Analysis of net assets between funds Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
167,543
Current assets
153,122
Creditors due within one year
(45,326)
Creditors due in more than one year
(83,760)
Total
191,579		 Restricted
funds
2023
£
-
1,600
-
-
1,600		 Total
funds
2023
£
167,543
154,722
(45,326)
(83,760)
193,179

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HOPE2SLEEP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2022
£
178,322
149,150
(66,762)
(90,609)
170,101		 Restricted
funds
2022
£
-
-
-
-
-		 Total
funds
2022
£
178,322
149,150
(66,762)
(90,609)
170,101

16. Pension commitments

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,415 (2022: £2,983). Contributions totalling £nil (2022: £nil) were payable to the fund at the balance sheet date and are included in creditors.

17. Related party transactions

J Hope is the husband of the CEO and an employee of the charity. During the year the total remuneration (including employers pension contributions) paid to J Hope was £31,962 (2022: £25,658).

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