REGISTERED COMPANY NUMBER: 09814006 (England and Wales) REGISTERED CHARITY NUMBER: 1170214 BREAD OF HOPE Report of the Trustees and Financial Statements for the period l January 2023 to 31 December 2023 *ACX6VY01' 1910212024 COMPANIES HOUSE #13 Bread of Hope Contents of the Financial Statements for the Period l Janua 2023 to 31 December 2023 . Page Report of the Trustees Ito7 Trusteeg Responsibilities Statement of Financial Activities Balonce Sheet io Notes to the Financial Statements iito13 Independent Examinerf5 Report to the Trustees 14 15 REPORT OF THE TRUSTEE5 Forthe Period l January 2023 to 31 December 2023 Chair erson's Re It is my pleasure to present the 2023 Trustees Annual Report and Accounts for Bread of Hope. Most of the tore activities of the charity continued throughout 2023. intruding a month.ly meeting with a group of workers in their 30s and a fortnightly Monday evening discipleship group. Whilst no "@Work" seminars were condurted in 2023 while the charity's safeguarding policy was reviewed, the charit￿5 continued participation with the project that distributes literature about the Christian Faith on the streèts of London continued its'advancement of the Christian Faith. The charity also printed a revised S(Jved. So What? Booklet which will support the delivery of courses in future periods. The charity continued deepenin8 Its partnership with Westbourne Park 8aptist Church and the Westbourne Park Food Pantry which it runs. In 2023 the charity increased its financial support for the pantry for the second year running, to £3,500 and continued asslsting the pantry in person for one day a month. The number of regular food pantry members increased by 25% in 2023 and it supported an estimated 19,191 people, playing an increasingly crucial rolè supporting the most vulnerable people in Westminster. Income reduced and expenditure increased slightly compared to 2022 but funding has remained stable and the charities. reserves remain healthy. The future remains brTrght for the charity in 2024 and beyond. In addition to its normal activities. it plans to support the Emmanuel Food Pantry- Harrow Road by making grants, develop liturgy for mea15 around the theme of bread and explore the possibility of extending its distribution of literature from the summer months to the rest of the year. 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 growth. T Bolster Structure Governance and Mana ement Governing Document Bread of Hope is a private company limited by guarantee. incorporated on 7 October 2015 198140061 and registered with the Charity Commission on 14 November 2016111702141. The company was established under a Memorandum of Association 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. b. Recruitment and Appointment of Dlrectors and Trustees The directors of the charitable company are it5 trustees for the purposes of charity law and are collectively referred to as the directors. Directors are appointed at board meetings. and are required to sign the statement of faith. At every other AGM one director 15 required to resign and may not stand for more than three consecutive terms. All members of the board give their time voluntarily and receive no benefits or expenses from the charity. All the trustees are familiar with the work of the charity. The workings and financial standing of the charity will be explained to any new appointee by the Chairperson and Executive Officer. Organi5ational Strutture The trustees meet periodically to administer the charity- They a￿ drawn from a variety of professional backgrounds relevant to the work of the charity and are responsible for the strategic direction and policy of the charity. Jon Horne is responsible for the day to day work of the charity, and is employed on a part-time bas15 as Executive Officer. d. Risk Management The trustees have a responsibility to identify, assess and manage risk5. This is done periodically during and between board meetings. Financial controls are reviewed annually. A red-amber-green review 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.. safeguarding,. health and safety,. whistleblowin& complaints.. data protettion: and anti-bribery. e. Reference and Administrative Detsils Charity Name Charity Registration Number Company Registration Number Bread of Hope 1170214 9814006 Registered Office and Principal Office 7 Fazeley Court Elmfield Way London W9 3UF Directors and Trustees Date a ointed Timothy Knight Arbdrew Nunn Tom Bolster Ichairpersonl Gavin Wolles 7 October 2015 7 October 2015 28 September 2017 28 September 2017 Secreta Jonathan Horne 7 October 2015 Executive Officer Jonathan Horne l June 2017 Solicitors Bankers Ellis-Fermor & Negus 2 Devonshire Avenue Beeston Nottingham NG9 IBS Barclays Bank Our Airns and Ob ects a. Aims and Objects The objects of the charity are restricted to the advancement of the Christian Faith and to the relief of finartscial hardship. The charity aims= to meet its object of the advantement of the Christian Faith by distributing literature about the Christian Faith,. and by providing support including {but not limited tol encouragement and training to workers- and to meet its object 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 particular to the London area. b. Ensuring our work delivers our aims The trustees have had regard to the guidance issued by the Charity Commission on public benefit. Charity policy dictates that before undertaking any activity, the following questions must be satisfied.. "does the activ¢ty meet one of the objetts of the chartty?" "Whom does the activity benefit?" "What benefit does it bringy Activities are then reviewed throughout the year using these three same question5. The aims by which the charity meets its objerts are reviewed annually. c. The focus of our work The provision of resource5 to charities whose object- or one of whose objects- is also the relief of financial hardship- The distribution of literature about the Christian Faith- and The development land delivery) of resources to encourage and support workers. Achievements and Public Benefit a. Who used and benefited from our 5eT¥ices Food Pantry The charity support5 Westbourne Park Food Pantry. which is a project of Westbourne Park Baptist Church Icharity: 11439881- Pantry members= are referred by the North Paddington Food Bank, Social Service5. the NHS (Health Visitors), local schools, and word of mouth,. live or work in or on the borders of Westminster (borough ofj- must answer questions about their financial situation- and have access to £20-£25 worth of food each week. including fresh meat, fish. fruit and vegetables, as available, all for a weekly subscription of £5. During the period: the pantry hosted 104 sessions12022: 1321,. the number of registered members in December was 315. ofwhom 212 were artive12022'. 1701- and 5,96412022-. 3,9091 members have shopped (weekly. alternate weekly or monthly attendances) with an estimated 19.19112022: 12,5791 household members benefiting. Demand has therefore grown significantly. and the pantry has had some issues with supply not fully meeting demand. Indeed. towards the end the period, the pantry has had to close to new referrals and to people registering through the website. * From January to July. three sessions ran each week.. on Thursday and Friday mornings,. and on Thursday afternoons. From the end of July. Fridays discontinued, which worked well with the Emmanuel Food Pantry- Harrow Road (see below) now up and running on a Friday. Also, the Thursday all-day pantry was then counted as one session, so there appears to have been a reduction in sessions delivered, but the pantry is open for the same number of hours on a Thursdav. Specifically, the charity= made a £3.500 grant12022.. £3,0(K)). This has provided towards= the purchase of resources needed to enable members t¢J take home fresh fruit and vegetables in eco-friendly bio- degradable bags: and the top up of essential food items to ensure that they have a wide range of choice to SlJPPOrt their family. has been collecting ernpty egg boxes from residents who neighbour the registered office. The pantry can then use these to distribute eggs sourced from a wholesaler, which come in large boxes. 277 boxes were supplied in the period. assisted the pantry in person for one Friday a month until July. This largely entailed stocking shelves. • assisted the pantry in person from September onwards by welcoming individuals in the pantry queue every Thursday morning. This entails listening to and building relationships with members, and being intentional about spiritual conversations. The pantry reports that 'this has been helpful in gaining information from members on areas that they find challenging and which could be irnproved. A number of these responses relate to customer service and having an equitable approach to all shoppers. Providing the opportunity for members to air their views has helped to de-escalate soffle points of tension.. The charity was also inducted to assist at the Emmanvel Food Pantry- Harrow Road, which is a project of Emmanuel Church, Harrow Road Ichurch code.. 623041I- Courses The charity facilitates a range of courses= Forgiveness@Work explores what it means to invite worthiness in the face of perceived wrongdoing. This helps to nurture connection between people. Witness@Work help5 participants to articulate the hope that the resurrection of Jesus brings to the everyday. Worship@Work challenges participants to approach their own work as worship, and thereby play a part in God's plan to put the world to rights. Stress@Work seeks to complement stress management with spiritual formation, so that participants can better weather emotions. becoming a blessing to others in the process. Since Witness@Work includes an exercise whefeby participants engage members of the public in conversation about what they believe. no such exercises, and thereby no Witness@Work courses, were run in the period while the safeguarding policy was reviewed. The charity also printed a revised Soved. So Whot? booklet lon the Christian life and the Ho Spirit). (This booklet forms part of the Witness@Work and Worship@WDrk courses.) The Worship@Work material was introdLJced to a network of men's breakfasts in Chichester, where over 30 copie5 01 the tharwVs The G05pelAccording toJob booklet were distributed. Meetings The charity facilitated a fortnightly meeting (via Zoom) where resources to encourage and support workers from a range of sector5 were delivered. INotably, the group a150 includes a number of current and former church leaders, both lay and ordained.) Resource5 included.. a bespoke Series entitled Sacraments and Secularity exploring how the bread and wine can blur our preconceptions of what is sacred and what is secular. Thinkers considered were.. Charles Taylor- Alexander Schmemann,. William Cavanaugh.. Gisela Kreglinger.. and James K.A. Smith. a bespoke series entitled Presence-shaped Mission exploring how what 15 done in churth can form the congregation to become more present to those around them outside of church, and more mindful of Christ's presence a5 they do so. Thinkers considered were.. Diana Butler Bass- John Colwell,. James Davison Hunter: John Howard Yoder- and David Fitch. the second half of John Griffiths. Emoilsfrom the Hotel Bobylon, as serialised in the Faith in 8usirJess Quurterly. Spring 2CKJ3 to Autumn 2004. The charity facilitated monthly meetings with a group of workers lfrom a range of sectors) in their 30,5. Monthly meetings alternated between reflecting on pressing workplace issues. finishing the Godspeed tourse. and starting Timothy Gombis, book The Droma of Ephesions. Two meetings were set aside 50 that a Christian in a senior leadership position could share wisdom on line management. The charity also facilitated two seminars on grief and one liturgy workshop.. A seminar on resurrection and bereavement was delivered to the multi-faith network at Westminster City Council before Easter.. and a seminar on grief and Job to a pan-church men's breakfast in Chichester. A liturgy Wofkshop was held to help clergy and licensed lay ministers navigate power disparities between themselves and their congregants. One-to-one meetings continued during the period. albeit these addressed ad hoc needs rather than literature about the Christian Faith. Distribution The charity distributed literature about the Christian Faith on the streets of West London. During twelve hours spread over four weeks the charity distributed.. 13 New Testaments- and I USB stick containing miscellaneous material. This distribution also elicited two conversations about the Christian Faith. Financial Review a. Financial Review During the period the charity received income from donations of £50,03912022: £51,064). and total income of £50.16612022: £51.2281. The total costs for the period were £50,56212022- £49,953). This leaves a net deficit for the period of £39512022= 5urplus= El,2761. b. Reserves Policy The charity's policy is to use funds exclusively to meet the objects of the charity whilst ensuring that there are sufficient funds to cover cash-flow requirements relating to comrnitted expenditure such as salary payments. Ouring the period. this meant retaining £13.342 in the General Fund. Plans for Future Periods The charity will continue to= support Westbourne Park Food Pantry by making grants, and by assisting in person- develop land deliver) resources to encourage and support workers,. facilitate monthly and fortnightly meetings to support and encourage workers from various sectors, using larnongst other things) David Fitch's Foithful Presence, Timothy Gombis, The Dromo of Ephesions, and bespoke courses on faith and psychoanalytic thought, and Bender respectively- facilitate one-to-one meetings with individuals,. and distribute literature about the Christian Faith on the streets of West London. The charity will also.. support the Harrow Road Food Pantry by making grants, and. on occasion, by assisting in person.. develop liturgy for meals around the theme of bread,. for example.. using the feeding of the five thousand or the Upper Room discourse- and explore the possibility of extending its distribution of literature from the summer months to the rest of the year. In order to mitigate risk. the charity will keep seeking to increase the number of monthly donors (whose giving is somewhat predictable), and therefore come to rely less on occasional "lump-sum" donors Iwhose giving is less prediciablel. Trustees. Res nsibilities in Relation to the Financial Statements The trustees (who are also directors of Bread of Hope for the purposes of company lawl are responsible for preparing the Trustees, Annual Report.and the 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 IFRS1021. The first transition to these Reporting Standards took place on 1st November 2016. Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and pplication of resources. including the income and expenditure. of the charitable company for that period. In preparing these financial ststements, the trustee5 are required to.. select suitable accounting policies and then apply them consistently- • observe the methods and principles in the Charities SORP,. • make judgments and estimates that are reasonable and prudent.. State whether applicable UK Accountine Standards have been followed- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the haritable company will continue in business. The trustees are responsible for keepin8 adequate accountin8 records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and fsnancial information included on the charitable companWs website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions- By order of the board T Bolster Chairperson Date 14.0?.2tr STATEMENT OF FINANaAL AcfiviTIES Bread of Hope For the year ended 31 December 2023 Notes Unrestrirted funds 2023 Unrestrirted funds 2022 INCOME AND ENDOWMENTS FROM: l)onations and legacies Other 50.039 127 51,064 164 Total 50.166 51,228 EXPENDITURE ON: Raising funds Communication with donors 2.246 Charitsble activities Staff costs 42.754 3.425 3.51J) 41,588 3,118 Running and operating costs Grants made Total resources expended 50.562 49,953 NET INCOME I {EXPENDITURE) (395} 1.276 Net movement in funds 13951 1,276 Reconciliation of funds: Total funds brought forward Total funds carried forward 28.006 27.611 26,731 28,006 The notes on pages 11 to 13 form part of these financial statements. BALANCE SHEET Bread of Hope As at 31 December 2023 Notes 31 Dec 2023 31 Dec 2022 FIXED ASSETS Tangible assets Total fixed assets CURRENT ASSETS Cash at bank 28,085 29.687 Total current a55ets 28,085 29,687 LIABILITIES Creditors.. Amounts falling due within one year 14741 (1,6801 NET ASSETS Z7,611 28,006 Unrestricted funds 27.611 28,006 TOTAL CHARITY FUNDS 27.611 28.006 The charitable company is entitled to exemption from audit under Section 477 of the Companie5 Act 2006 for the period ended 31 December 2023. The members have not required the charitable company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companie5 Act 2006. The trustees acknowledge their responsibilities for= (al ensurin8 that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 21J)6: and Ibl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise omply with the requirements of the Compènies Act 2006 relating to financial statements, 50 far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relatinE to small charitable companies and with the Financial Reporting Standard 102. The financial statements were approved by the Board of Trustees on and signed on its beha by.. Trustee The notes on pages 11 to 13 form part of these financial statements. io NOTES TO THE FINANCIAL STATEMENTS Bread of Hope for the Period l January 2023 to 31 December 2023 I. ACCOUNTING POLICIES a. Accounting Convention The financial statements have been prepared in accordance with historical cost convention and with the accounting policies set out below. The finantial statements comply with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their attounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021- The first transition to these Reporting Standards took place on 1st November 2016. b. Income and endowments All income and endowments are included in the statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the arnount can be measured with sufficient reliability. Expenditure Expenditure is accounted for on an accruals basis and has been classified under headings that aEBregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to attivities on a basis consistent with the use of resources. d. Recognition of Liabilitles Liabilities are recognised when an obligation arises to transfer economic benefits as a result of past transactions or events. 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 funds to cover cashflow requirements relating to committed expenditure such as salary payments. Typically, this meant retaining £13.342 in the General Fund. Funds The charity holds general funds that are unrestricted. These are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. g. Taxation The charity is exempt from corporation tax on its charitable activities. The tharity is not registered for VAT either and accordingly, all of its expenditure 15 recorded inclusive of VAT incurred. 2. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefrts for the period ended 31 December 2023. There were no trustees, expenses paid for the period ended 31 December 2023. 3. INCOME AND ENDOWMENTS "Othert is composed of tredit from the bank. li ¥J 4. STAFF COSTS The average number of persons employed by the charity during the period for support work was one. The staff costs were- Unrestrirted funds 2023 Wages and salaries Social security costs Pension costs 29,168 8,095 4,899 593 Administration fee Totsl 42,754 No employee earned more than £60.0(X). Salary does not reflect position in the organi5ation. Rather, it reflect5 a conviction that staff lifestyle should not detract from public benefit. Salary is set 50 that staff may pursue the object5 of the charity for the public benefit unhindered by both substandard living (which might affect performance) and excess (thereby appropriating funds that should otherwise benefit the publicl. This balance also reflects the Christian ethos of the charity= 'give me neither poverty nor riches, but give me only my daily bread. Otherwise. I may have too much and disown you and say, "Who is the Lord?" Or I may become poor and steal. and so dishonour the name of my God, IProverbs 30.'8- 91. Furthermore, the same salary scale is applicable to all Staff. albeit allowing for adjustments like location.. the minimum salary for staff based in London is the London Living Wage- bLbt for Staff based elsewhere in the UK the minimum salary is the National Living Wage. Policy dictates that salary is reviewed annually, which afftirds an opportunity to compare the salary scale with other organisations in the sector. RUNNING AND OPERATING cosrs Unrestricted funds 2023 Equipment Governance 1,372 990 Literature 294 Meetings lattendedl Stationary and postage Other 207 236 326 Total 3,425 12 In the previous period, "Running and Operating costs" included "Room Hire" But since no expenditure was made in thi5 area during the current period. -Room Hire" has been excluded. Also. the previous period did not include~Meetings lattendedl" But because in-person attendance at meetings has been made possible by the end of the pandemic. "Meetings (attendedl~ has been included. This is to give a clearer account of these costs. "Equipment" includes computer hardware. software. and on-line services. The charity operate5 a de minimis policy for equipment. Equipment with a historical cost of less than £200 is not subject to depreciation. 6. GRANTS MADE Analysis Grantsto institutions Grants to individuals Support cost Totsl Institution: Westbourne Park Baptist Church (charity: 11439881- project.. Westbourne Park Food Pantry. 3,500 Total 3,5LK) 3,500 The objects of Westbourne Park Baptist Church (charity= 11439881 are 'the advancement of the Christian Faith and other charitable purposes in the United Kingdom ' The work of Westbourne Park Food Pantry coincides with the charitys object for the relief of financial hardship. Westbourne Park Food Pantry also satisfies the charitWs grant-making policy that grants be made "with particular focus on" Greater London. 13 INDEPENDENT EXAMINER'S REPORT TO THE TRUStEES Bread of Hope I report to the trustees on my examination of the accounts of the charitable company for the year ended 31" December 2023. Responsibilitles and basis of report As the charity trustee5. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.the 2011 Act'}. I report in respect of my examination of the charitvs accounts carr￿d out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions gwen by the Charitv Commission under section 145151{b) of the Act. Independent examiners ststement I have completed my examination. I confirm that no matters have come to my attention in connertion with the examination giving me cause to.believe that in any material respect- l. 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 conterning the form and content of accounts set out in the Charities IAccounts and Report51 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 ￿ 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. Kolade Andrew Alli ACMA KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End Hampshire S018 3NA 19th January 2024 14