REGisfERED COMPANY NUMBER: 09814006 IEn¥land and Wales) REGISTERED CHARITY NUM8ER: 1170214 BREAD OF HOPE Report of the Trustees and Financial Statements for the period l January 2022 to 310ecember 2022 *￿¥DXl6Q. 1510212023 COWMIES HOVSE 43 REPORT OF THE TRUSTEES For the Period l January 2022 to 31 Deomber 2022 Chair rson's Re ort It is my pleasure to present the 2022 Trustees. Annual Report and Attounts for 8read of Hope. The core activities of the charity contirtued throughout 2022, including four"@Work" seminars for a overnment department, a monthly discussion with the organisation Asylum and fortnightly Monday evening discipleship group. Whilst all of these attivities continued to be online. this has helped maintain attendance levels at 200% of pre-pandemic levels. To support these seminars the charity also PrOdu￿d revised Soved. So Whot? Booklet and four ¥ideo& The charity a150 continued deepening its partnership with Westbourne Park eaptist Church and the Westbourne Park Food Pantry which it runs. In 2022 the charity doubled its finan¢ial support forthe pantry to £3.(IJO and began assisting the pantry in person fof one Friday a month during the final quarter. This development ha5 fa¢ilitated deeper connettions with those running the pantry but also opened up more opportunities for 8ospel Conversations with those frequenting the pantry. GNen the current cost of living crisis, the pantry and other5 like it. play an Increasing￿ crucial role supporting the most vulnerable people in our society and it is privilege to play a part in thi5 Vltal work. The charity also has continued to feed the community Spiritually as well as physically, distributing literature about the Christian Faith on the streets of West London as well as through one to one di5¢iple5hip. The future remains bright for the charity in 2023 and beyond. The main rhange from previous periods is thaL after careful consideration, the charity has stepped back from the monthly discussion groups it has facilitated for Aswum over several years in order to free up capacrty for other activities. Funding has remained sta￿e in 2022 with income and expenditure both increasing by several thousand pound5. We continue to thank God for His provision. for allowing the vital work of Bread of Hope to continue and for opening new doors and opportunities for future gr￿h. T Bolster r rture Governance and Mana emertt a. Governing Documenl Bread of Hope is a private company limited by guarantee, incorporated on 7 October 2015 198140061 and registered with the Charity Commtssion on 14 November 2016111702141. The company was established under a Memorandum of Assotiation which established the objects and powers of the charitable company and is governed under its article5 of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Retwltment Jnd Appolntmefit of Dlrectors and Truslees The dirertors of the charitable company are its trustees for the purposes of charity law and are collettively referred to as the directors. Director5 are appointed at board meetings. and are requlred to sTrgn the statement of faith. At every other AGM one dirertor is required to resign and may not 5tsnd for more than th￿* consecutive terms. All membefs of the board give theirtime voluntari￿ and reCe￿e no benefits or expense5 from the charity. All the trustees are familiar wilh the work of the charity. The workings and financial standing of the charity will be explained to any new appointee l>y the Chairperson and Executive Officer. Organisational Structure The trustèès meet pèriodicalty to administer the charity. They are drawn from a variety of professional backgrounds relevant to the work of the rharity and are responsible for the 5tr3te8lC direttion and policy of the tharity. Jon Horne is responsible for the day to day work of the charity, and is employed on a part-time basis as Executive Officer. d. Risk MaTraiement The trustees have a responsibility to identify. a$5ess and manage risks. This is done periodically during and between board meetings. Financial controls are reviewed annually. A red-amber-green revièw of the finances and a declaration of conflict of interests begin every board meeting. Reflection on risks may give rise to written policy. Such policies include-. safeguardin8; health and safety: whistleblowin& complaints- data protection,. and arbti-bribery. e. Reference and Admlnlstratlve Detalls Charity Name Charity Re8istration Number Company Registration Number Bread of Hope 1170214 9814tK Re8istered Office and Principal Office 7 Faieley Court Elmfield Way London W9 3UF Directo￿ and Trustees Date a inted Timothy Knight Andrew Nunn Tom Bolster IChairper50nl Gavin Walle5 7 October 2015 7 Ottobef 2015 28 September 2017 28 September 2017 Secreta Jonathan Horne 7 October 2015 Exètutive Officer Jonathan Horne l June 2017 nk Ellis-Fermor & Negus 2 Devonshire Avenue Beeston Nottingham NG9 18S Barclays Bank 2 Victoria Street London SWIH OND rAim ndob ects Aims and Oblects The objects of the charity are restricted to the advanoment of the Chrhstian Faith and to the relief of fjnancial hardship. The tharity aims: to meet its objert of the advancement of the Christian Faith by distributing literatufe about the Christian Faith- and by providing support including (but not limited tol encouragement arhd training to workers.. and to meet its objert of the relief of financial hardship by providing resources for the relief of said hardship to charities whose object- or one of whose objects- is also the relief of financial hardship. These aims are all partitularto the London area. b. ETrsuring our work delivers our alms The trustee5 have had regard to the guidance issued by the Charity Commission on public benefit. Charity policy dictates that beforè undertaking any attivity. the followin8 questions rnust be satisfied.. "doe5 the artivity meet one of the objects of the charity?~ Whom does the activity benefitv What benefit does it brin8Y Artivities are then reviewed throughout the year using these three same questions. The aims by which the charity meets its objects a￿ ￿vieWed annually. ¢. The focus of our work The provision of resources to tharities whose object- or one of whose objects- is also the relief of financial hard5hip- The distribution of literature about the Christian Faith,. and The development land delivery) of resources to encourage and support workeT5. a. Who used and beTrefited from our ser¥lces Food Pantry The charity supports Westbourne Park Food Pantry. whith is a projÈtt of Westbourne Park Baptist Church (charity.. 11439881. Pantry members= are feferred by the North Paddington Food Bank, Social Seryice5, the NHS (Health Visitors), local schoo15, and word of mouth.. live or work in or on the borders of Westminster Iborough of}- must answer questions about their financial situation- and have access to food. including fresh fruit and vegetables las avallablel. often at 25-30% of market value. all for a small weekly subscription of £5. During the period.. the pantry hosted 132 sessions- the nsjmber of members rosè from around 60 in january to 170 in Oecember- and 3909 Members have Shopped (weekly. afternate weekly or monthly attendancesl with an estimated 12.579 household members benefiting. 50% of members represent adult only households and 50% families with children. (The adult only households include a significant number who are of retirement age and older.) Specifically, the charrfty-. • made a E3,C££s Brant12021= £1.SLK)}. has been collecting empty egg boxes from residents who neighbour the registered ofFice. The pantry can then use these to distribute e88s sourced from a wholesaler. which come in large boxes. 60 boxes were supplied in the final quarter. assisted the pantry in person for one Friday a month during the final quarter. This entails stockinB shelve5 and listenin8 to and building relatbonship5 Wtth membefs. The charity have also been encouraged by the pantry to be intentional about spirituol conversations. Courses The charity facilitates a range of courses.. Forgivene5S@Work explore5 what it means to inwte worthiness in the frd¢e of perceived wronEdoing. This helps to nurture connection between people. Witne$5@Work helps participants to articulate the hopè thatthe resurrection of Jesus brings to the everyday. Worship@Work challenges participants to approach their own work a5 worship, and thereby plav a part in God's plan to put the world to rights. Stress@Work seeks to tomplèmtnt strèss managemÈnt with spiritual formation. so that participants can better weather emotion5. becomin8 a ble55in8 to other5 in the pmcess. The charrty ran a sessron from each of these four courses with a Christian Netwo￿ in a government department. Attendance peaked at around 60 people. This re5uhed in reshooting the Istoriesl video that helps participates to articulate the difference that the re5urrertion can make in their own lives. The charity also developed-. A revised Soved. So Whot? booklet lon the Christian life and the Holy Spirit). (this booklet forms part of the Witness@Work and Worship@Work ¢ourses.I A video of the Soved. So Whut? booklet. Three vidèos about the Powers.. two on I Corinthians 11. and one on the book of Acts. Meetlngs The charity f3¢ilitated a fwtnightly meeting (via Zooml where resources to encourage and support workers from a range of sectors were delivered. INotably, the group also includes a number of current and former churth leaders, both lay and ordained.l Resources included.. • a bespoke series entitled Engaging the Powers. which draws on aLMlio and video from Esau Mccaulley, Walter Brueggemann. N.T. Wright. Natalia-Nana. Nathan Cartagena. James Cone. Christèna Cleveland. and the charity's own Stress@Work course and Powers videos. the first half of John Griffrths. Emoilsfrom the Horel Bobylon. as serialised in the Foith in Busrftess Quarterly. Spring 2W3 to Autumn 2004. The charity facilitated monthty meetings with a group of workers (from a range of sectors) in their 31Ys. Monthly meetings alternated between reflecting on pressing workplao issue5 and working through the Godspeed course. The charity also facilitated On￿n￿one meetings with two different indNiduals from different sertors. With both. literature related to the Christian faith wa5 read and discussed.. With one. John Goldingay'5 trènslation of Hèbrew Scripture, Alexander Schmemann's For The Life OA The World, David Bentley Harts translation of G￿ek Scfipture. and Charles Taylorfs A Seculor Age. With the other. C.S. Lewis. The Discorded Imo9e. Dlstrlbutlon The charity distributed literature about the Christian Faith on the streets of West London. Ourin8 twenty-four hours Sp￿a￿ over three weeks the charity distributed= I Gospel outline IBread of Hope'sA irfe Worth tivingl- l Gospel of John.. 3 New Testaments.. an I booklet on the book of Job IBread of Hope's The GospelAccording tojobl. This distribution also elicited three conversations about the Christian Faith. As part of a seminar on Brief, IC(1 copies of the charity's The GospelAccording tojob were distributed through All Souls. Langham Place (charity.. 11328821 in October. Asylum In addition, the charity faolitated a monihly discussion for Asylum Icharity- 11051181. AsylLtm exist5 to bring the love and acceptance of Christ to people from the various underground subcultures in London. Many from those underground sulxulture5 also have professional roles,. and not all of the di5CU55ion attendees are profe55ing Christians. The charity: provided a OJ for Asylum's monthly club night in Marth. April, and May. Iconversations about deeper issues oftert begin when punters find out that lat least) the main musician behind each track has made some profe55ion of faith.) fatilitated discussions on select videos from the 8ible Projett lon grace and on the kingdom of Godl, Walter Bfueggemann lon jubilee). Shane aaibourne lon loving enemies). Sara Miles lon mortality and on breaking bread together). and Death Cafe. vi Activities All seminars and meetings continue on Zoom rather than.in person" Monday-evening attendance continues at 200% pre-pandemic leve15. But a number of other activities were able to resurne in person. These included.. distributing literature about the Christian Farth lfr(Nn July}- providing a DJ for Asylum (from Marchl- and helpin8 out the Westbourne Park Food Pantry. a projert of W￿tt￿￿rne Park Baoist Church Icharity.. 11439881 Ifrom Ortoberl. b. Staff. volunt¢er5, and beneficiaries The charity employs an EXec￿1ve Officer to work from Westboume Park Baptist Church (charity.. 11439881 on a part-time basis. He resumed working from there in August. c. Flnances and reser¥es See below. Flnanclal Reylew a. Finan¢lal Rev5ew Ourin8 the period the chafity received income fr¢)m donations of £12021= £47,050), and total income of £12021.. £47,051). The total costs for the period were £12021.. £42,223). This leaves net surplus for the period of12021- £4.8281. The next period will require Teserves of f 13,342. Together with the surplu5, these funds will help.. to hedge any loss of funding in the next period- and • if need be, to increasè salary in line with any increase in interest rates. b. Reserves Po15cy The charity'5 policy is to use funds exclusively to meet the objects of the charity whilst ensuring that there are sufficient funds to cover cash-flow requiremènts relating to committed expenditvre such as salary payments. During the period, and until Ortober 2022. this meant ￿tainIng £12,557 in the General Fund, and then £13.342 thereafter. Plans for Future Perlods The charity will continue to.. support the Westbourne Park Food Pantry by making Brants. and by assisting in person: develop land deliver) resources to encourage and support workers. beginning with printed copies of the revised Soved. So Whot? booklet lon the Christian life and the Holy Spiritl- facilitate monthly and fortnightly meetings to support and encourage workers from Various settors. using lamongst other thingsl a bespoke course on sacraments and spirituality. and the second half of John Griffiths. Emoilsfrom the Hotel 8obylon.' facilitate one-to-one meetings with individuals: and distribute literature about the Christian Faith on the streets of West London. In Ofdèr to increase capacity. and after fNe years. the charity will not be partnering with Asylum Icharitv.. 11051181 for at least thÈ first tèn months of the next period. Extra capacity will enable the charity to review expenditure in light of any increase in interest rates, and seek to increase irKome accordinBIv. A150, arbd in order to mitigate fisk. the charity will keep seeking to increase the number of monthly danors Iwh05e giving is somewhat prÈdittablel, and therefore come to rely less on occasional'lump-sum" donor5 Iwh05e givTrng is le$5 predirtablel. rustees. R nslbllltl In Relation to the Financial Statements The trustees (who are also directors of Bread of Hope for the purpose5 of company lawl are responsible for preparin8 the Tru5tees' Annual Report and the financial statements. The financial statements have been prepared in accordance with Accounting and Reporting by Charitie5'. Statement of Recommended Prartice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. The first transition io these Reporting Standards tcok ￿3¢e on 1st November 2016. Company law requires the trustees to prepare financial statements for each financial year which 8ive a truè and fail view of the state of affairs of the charitable comp8ny and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for that period. In preparing these financial statements. the trustees are required to: * select suitable accounting policies and then apply them consistentlyi • observe the methods and principles in ihe Chaiities SORP.- • make judgments and estimates that are reasonable •nd prudent.. • state whether applicable UK Accountin8 Standords have been followed,. and prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the charitable company will cc¥)tinue in business. The trustee5 are responsible for keeping adequate accovntinB record5 that disc105e with reasonable accuracy at any time the financial position of the charitable company and enab￿ them to ensure that the financial 5tstements comply with the Companies Art 2LK)6. They are also responsible for safeguaiding the assets of the charitable company and hence for takin8 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 infomation included on the charitable companvs website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictTrons= y ordef of the board T Bolster Chairperson Date 13 February 2023 STATEMENT OF FINANCIALAcfiviTIES Bread of Hope For the year ended 31 De￿mber 2022 Notes Unrestrlrted fwKIs 2022 Unrestrirted fund$ 2021 INCOMEAND ENDOWMENTS FROM: Donations and legacies Other 51.C64 164 47.050 Total 51.228 47.051 EXPENDITURE ON: Ralslng funds Communication with donors 2.246 679 CharStable actlvltles Staff costs 41.S88 3.118 36.499 2.795 2,250 42,223 Running and operating costs Grant5 made Total resources expended 49.953 NET INCOM£ I {EXPENDITURE) 1,276 4.828 Net movement in funds 1.276 4,828 Reconclllation of funds: Total fund5 brought forward Total funds tarried forward 26,731 28.006 21.903 26.731 The notes on pages 11 to 13 form part of these financ￿1 ststèments. BALANCE SHEET Bread of Hope As at 31 December 2022 31 De¢ 2022 31 Dec Z021 FIXED ASSETS Tangible assets Total f•xed assets CURRENT ASSErs Cash at bank 29.687 26,731 Total current assets 29.687 26.731 LIABIUTIES Creditors.. Amounts fallin8 due within one year 11,680) NET ASSETS 28.(X16 26.731 Unrestricted funds 28.W6 26.731 TOTAL CHARITY FUNDS 28.1x16 26.731 The charitable company Is entitled to exemption from aLrdit under Section 477 of the Companies Act 20C for the period ended 31 December 2022. The member5 have not required the charitable company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Sertion 476 of the Companies Act 2(K6. The tThbStees acknowledge their fesponsibilitses for: lal ensuring that the charitable company keeps accounting records that comply with Section5 386 and 387 of the Companies Act 2(￿- and Ibl preparing financial statements which give a true and fair view of the state of affaiis of the charitable company as at the end of each financial year and of its Sufplus or deficit for each financial year in accordance with the requirements of Sertions 394 and 395 and which otherwise comply with the requirements of the Companies Act 2(￿ felaiing to financial ststements, so far as applicable to the charitable company. These financial statements have been prepared in acwrdance with the special provisions of Part IS of the Companies Art 2CIA relating to small charitable companie5 and with the Financial Reportin8 Standard 102. The financial statements were approved by the Board of Trustees on 13.02.23 and signed on its behalf by.. T 8015ter Trustee The notes on pages 11 to 13 form part of these financial statements. io NOTES TO THE FINANCIAI STATEMEt4TS Bread of Hope for the Period l January 2022 to 31 Deomber 2022 I. ACCOUNTING POUCIES a. A¢¢oyniinK Con¥ention The financial statements have been prepared in accordance with historiol cost convention and with the accounting policies set out below. The financial statements comply with Atcounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021. The first transition to these Reporttng Stsndards took place on 1st November 2016. b. Income and endowments All income and endowments are included in the statement of financial activities when the charitv has entitlement to the funds. certainty of receipt and the amount can be measured with sufficient reliability. ¢. Empenditure Expendituie is accounted for on an accfuals basis and has been classified under headings that aggregate all cost related to the catrgory. Where c05ts cannot be dirertly attributed to particular headin85 they have been allocated to artivities on a basis con5i5tent with the use of resouros. d. Recognltlon ol Llabllltles Liabilities are recognised when an obl￿atIon arises to transfèr economic benefits as a result of past transactions or events. e. Reserves Policy The policy of the Charity is to distribute reserves in accordance with the objects of the charity whilst ensuring that there are sufficient lunds to cover cashflow requirements relating to committed expenditure such as salary payments. Typically. and until Oaober 2022. this meant retaining E12,557 in the General Fund, and then £13,342 thereafter. Funds The tharity holds 8ènèral fund5 that are unrestrirted. These are a¥ailable for USÈ at the discretion of the trustees tn furtherance of the general objectives of ihe charity. 8. Taxation The charity is exempt from corporation tax on its charitable activities. The charity is not registered for VAT either and accordingly. all of its expenditure is recorded inclusrve of VAT incurred. I TRUSTEES, REMUNERATION ANO BENEFITS There were no trustees, remuneration or other benefrts for the period ended 31 December 2022. There were no trustees, expenses paid for the period ended 310ecember 2022. 3. INCOME AND ENL)OWMENTS -Otherf 15 composed of credit from the bank. li 4. sfAFF cosrs The average number of persons employed by the Charity during the period for support work wa5 one. The staff costs were.. Unre5trirted fund5 2022 Wages and salaries Social security costs Pension costs 28.362 8.177 4.719 Administration fee 330 Total 41,588 No employee earned more than £60.¢X)O. Salary does not refiect position in the organisation. Rather. it reflert5 a convirtion that Staff lifestyle shotsld not detract fmm public benefit. Salary is set 50 that stsff may pursue the objects of the charity for the public benefit unhindered by both substandard living (which mtght affect performancel and excess (thereby appropriating funds that should otherwise benefit the publicl. This balance also reflects the Chrisiian ethos of the ch3rity.-'give me netther poverty Thor riches, but give me only my daily bread. Otherwise. I may have too muth and disown you and say,"Who 15 the Lordf Or I may be¢¢)me poor and steal, and 50 dishonour the name of my God. IProverbs 30'.8- 91. Furthermore. the same salary scale is opplicable to all staff. albeii allowing for adjustménts like location= the minimum salary for stsff based in London is the London Ltving Wage.. but for staff based elsewhere in the UK the fflinimum salary is the National Livin8 Wage. Policy dictates that salary is reviewed annually. which affords an opportunity to compare the salary scale with other organisations in the sector. 5. RUNNING AND OPERATING COSTS Unrèstritted funds 2022 Equipment Governance 1.102 Literature 213 R￿M hire 291 Stationary and postage Other 296 Total 3.118 12 In the prevlous period. "Running and Operating costs- included-Food Banv, "Depreciation- and -meetings- But since no expenditure was made in these areas during the current period. -Fc¥)d BanV,"Depreci3tion" and -meetings" have been excluded. Also, the previous period did not include -Literaturè- and 'Room Hire- But since the charity hired a room tofilm videos and procured literature for research and distribution in the current period. -Literature" and "Room Hire" have been included. This is to give 3 dearer account of these costs. "Equipment" include5 computer hardware. software. and on-line services. The charity operates a de minimis policy for equipment. Equipment with a historical c05t of les5 than £200 is not subjett to depreciation. 6. GRANTS MADE Analy5iS Grants to institutions Grant5 to Individuals Support C05t Total Institution.. Westbourne Park Baptist Church Icharity= 11439881; proiert.. Westboume Park Food Pantry. 3,000 Total 3,000 The objects of Westbourne Park Baptist Church Icharity.. 11439881 arè'the advancement of the Christian Faith . and other charitable purposes in the United Kingdom..., The work of Westbourne Park Food Pantry coinodes with the charitys objert for the relief of financial hardship. Westbourne Park Food Pantry also satisfies the chariws grant-making polity that Brants be made -with particular focus on~ Greater London. 13 INDEPENDENT EXAMINER'S REPORT TOTHE YRUSfEES Bread of Hope I report to the irustees on my examination of the accounts of the charitable company for the year ended 31" December 2022. Responslbilitles and basis of report As the charity trustees, you are responsible forthe preparat￿￿ of the accounts in accordan￿ with the requirements of the Charities Act 2011 (the 2011 Act'l. I report in respect of my examination olthe tharitrfs accounts carried out under 5ettion 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145ISMbl of the Act. Indèpendent examlners statement I have completed my examination. I confirm that no matters have come to my attention in wnnection with the examination giving me cause to believe that in any material respect.. l. accounting records were not kept in respe¢t of the Charity 4$ required by section 130 of the 2011 Art,. or 2. the accounts do accord with those records- or 3. the accounts do nol comply with the applicable requirements concerning the form and content of account5 set out in the Charities IAccounts and Reports) Regulations 2(X)8 other than any requirement that the accounts 8ive a 'true antl fair ¥iew' which is not a matter considered as part of an independent examination. I have no Concerns and have come across no other rn￿te￿ in Connert￿n with the examinatbon to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Kolade Andrew Alli ACMA KARE Financial Management COnsultar￿ Ltd 10 Gatcombe Gardens West End Hampshire 50183NA 16th January 2023 14 Bread of Hope Contents of the Financial Statements for the Pèriod l Janua 2022 to 31 December 2022 PaBe Report of the Trustees Ito7 Tru5tees' Responsibilities Statement of Financial Activities 8alance Sheet io Notès to the Financial Statements Ilto13 Independent Examinerfs Reportto thè Trustees 14 15