Registered Charity No. 1177548
## **Hope into Action: Coventry**
Charitable Incorporated organisation
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
_Hope into Action: Coventry_
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **Trustees**
The Charitable Incorporated Organisation was registered on 14 March 2018.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Trustee Patricia Clarke John Clarke Matthew Jermyn Mark Perryman Shera Payne Helen Needham
Date of appointment Date of resignation 15 March 2018 26 May 2021 15 March 2018 17 November 2021 18 January 2019 26 May 2021 23 November 2021 23 November 2021
## **Address of the Charity**
The Halo Centre Progress Way Binley Industrial Estate Coventry CV3 2NT
## **Bankers**
HSBC 55 Corporation Street Coventry CV1 1GX
## **E-Mail address**
Coventry@hopeintoaction.org.uk
## **Website**
Coventry.hopeintoaction.org.uk
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_Hope into Action: Coventry_
## **Chairperson’s report for the year ended 31 March 2022**
I am glad to present the annual accounts for Hope into Action: Coventry.
In March the Hope into Action national conference was held in Peterborough, gathering tenants, volunteers and staff from Hope into Action franchises across the country. It was a fantastic reminder of what the Hope into Action network exists for: to enable church members to strive to love the homeless, to see tenants receiving and feeling that love, and to provide professional support within that environment. This approach has enabled many people to turn their lives around, and I hope and expect to see many more. The conference finishes with an award ceremony for tenants, and it was brilliant to see two tenants from Coventry win awards!
In Coventry much has changed in the last year. We have employed a new empowerment worker, Becky Clarke and recruited three new trustees. Two trustees, Pat Clarke and Nobby Clarke, stepped down after years of service. Without each of them this charity would not exist and I am deeply grateful to both of them for their work.
Financially we are finishing the year in a good position, with particular thanks to the National Lottery for the grant of £10,000 for developing the charity, which has enabled preparatory work for opening a new house in the near future. I am encouraged by the ongoing conversations with churches wanting to partner with us, as a result of which we are planning for a number of new houses over the next few years.
Finally, thank you to the many people who support our work in many different ways and to Adele and Becky our staff and the Friendship and Support volunteers from our partner churches. The work you do with our tenants is what we exist for, and I am very grateful that each of you is involved.
_Matt Jermyn_
Matt Jermyn Chair of Trustees
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_Hope into Action: Coventry_
## **Trustees’ Report for the year ended 31 March 2022**
The Trustees present their report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s trust deed, the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective from 1 January 2019 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
## **Objectives and activities**
Hope into Action Coventry provides homes for the most vulnerable in society in partnership with local churches. Our model is built on the belief that when people have a safe, secure home surrounded by loving, non-judgemental relationships they will find the strength and motivation to make positive life choices. We welcome people of all faiths and none, all ethnicities and sexualities.
## **Recruitment and Appointment of Trustees**
The Constitution provides for a minimum of three trustees. Each of the trustees shall retire with effect from the conclusion of the next Annual General Meeting after their appointment, but shall be eligible for re-election at that general meeting up to a maximum of five years.
## **Structure, governance and management**
Hope into Action: Coventry is a Charitable Incorporated Organisation (‘CIO’) with registration number 1177548 and is constituted under a Constitution dated 20 February 2018. This charity raises funds from the public.
The Trustees have responsibility for the control and administration of all funds of the Charity and it is governed in accordance with its Constitution. The Trustees form a committee which meets monthly. These meetings are also attended by the Secretary and Treasurer. The committee has overall responsibility for strategic planning, policy formulation, approval and monitoring of programmes and services, finance, risk management, staff and volunteers, and premises.
All Trustees give of their time freely and no Trustee remuneration was paid in the year, or in the prior year.
The Charity’s and other relevant addresses are as shown on page 1.
## **Financial review**
The charity has performed well over the year to 31 March 2022, receiving as unrestricted reserves £25,241 (2021: £11,217) in grants and donations, £28,503 (2021: £16,261) in rent and charges, £1,572 (2021: £399 in Gift Aid, and £1,498 (2021: £988) in training fees. In the current year, no contributions were received as restricted funds (2021: £1,401), resulting in total income for the year of £56,814 (2021: £30,266).
Total unrestricted resources expended during the year, amounts to £45,062 (2021: £26,402), giving a net unrestricted income for the year of £11,752 (2021: £2,463). Restricted funds expended for the year of £232 (2021: £2,263) leaves a net outflow for the year of £232 (2021: £862). The total reserves, consisting of unrestricted reserves of £16,974 (2021: £5,222) and restricted reserves of £506 (2021: £738), amounted to total funds of £17,480 (2021: £5,960).
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_Hope into Action: Coventry_
## **Reserves and funds**
Reserves consist of all retained income available to the Charity and exclude any restricted funds that the Charity may have. The Charity currently have unrestricted reserve funds of £16,974 (2021: £5,222). The unrestricted reserves are considered to be sufficient for the short term.
The charity aims to keep between three and six months’ core running costs in reserves at all times. This is to ensure the Charity is able to meet all of its legal obligations should all funding be withdrawn.
## **Exemption from audit**
The trustees have taken advantage of the exemptions available to small charities, including the audit exemption. In accordance with the Charity Commission’s guidelines, Trustees must arrange for an independent person or accountancy firm to carry out either an audit or an independent examination of their charity’s accounts in cases where a charity’s annual income is in excess of £25,000 but less than £1 million. The Trustees chose to have an independent examination instead of an audit. An examiner was appointed to do an independent examination of the charity accounts with the purpose of giving the charity’s Trustees, supporters, beneficiaries and the wider public some independent assurance that the charity’s money has been properly accounted for and accounting records were kept.
## **Risk management**
The Trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and established procedures to manage those risks. Guidance from the Charity Commission is followed.
The Trustees consider the variability of contributions, as well as the dependency on a number of volunteer workers and churches, to constitute the Charity’s major risks.
## **Going concern**
The Charity’s activities, together with the factors likely to affect its future development, its financial position and its exposures to liquidity and cash flow risk are described in this Trustees’ Report.
The Charity has sufficient financial resources and reserves to fund its activities for the foreseeable future. As a consequence, the Trustees believe that the Charity is well placed to manage its business risks successfully and will have sufficient time to adjust its activities in line with any change in contributions. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
## **Trustees’ responsibilities**
The Trustees are required under the constitution of the charity and under charity law to prepare the trustees’ report and the financial statements in accordance with FRS102 and the charity SORP (FRS 102). The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for that period. In doing so, the Trustees are responsible for:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and estimates that are reasonable and prudent; and
- Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.
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_Hope into Action: Coventry_
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.
The trustees have complied with the duty in the Charities Act 2011, to have due regard to guidance published by the Charity Commission on public benefit.
## **Approval**
This report was approved by the Trustees and signed on their behalf by:
_Matt Jermyn_
Chairman: Trustees
Date: 3 November 2022
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_Hope into Action: Coventry_
## **Independent Examiner’s report to the trustees of Hope into Action: Coventry**
I report to the Trustees on my examination of the accounts of Hope into Action: Coventry Charitable Incorporated Organisation (Hope into Action: Coventry) for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity trustees of Hope into Action: Coventry you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of Hope into Action: Coventry’s accounts carried out under section 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 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the 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:
_Lindy Bornman_
7 Lansbury Close St Neots PE19 2UA
Date: 3 November 2022
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_Hope into Action: Coventry_
## **Statement of comprehensive income (including Income and Expenditure account) for the year ended 31 March 2022**
|||||||**2022**||**2021**|
|---|---|---|---|---|---|---|---|---|
|**Note**||
**Unrestricted**||
**Restricted**||
**Total**||**Total**|
|||**£**||**£**||**£**||**£**|
|**Incoming Resources**|||||||||
|Grants and Donations
2||25,241||0||**25,241**||12,618|
|Rent & Charges||28,503||0||**28,503**||16,261|
|Gift Aid||1,572||0||**1,572**||399|
|Training Fees||270||0||**270**||988|
|Franchise advising income||1,228||0||**1,228**||0|
|TOTAL Incoming Resources||56,814||0||**56,814**||30,266|
||||||||||
|**Resources Expended**|||||||||
|Employment costs
3||26,745||0||**26,745**||17,963|
|Professional training||1,040||0||**1,040**||667|
|Tenants support costs||58||0||**58**||0|
|Office running costs||3,329||0||**3,329**||847|
|Council Tax||1,391||0||**1,391**||1,273|
|Maintenance costs||2,067||0||**2,067**||0|
|Services||363||0||**363**||0|
|Franchise Fees||1,200||0||**1,200**||880|
|Insurance||1,112||0||**1,112**||774|
|Return to Investors||3,804||0||**3,804**||2,903|
|Residents Needs||2,409||232||**2,641**||1,527|
|Training||0||0||**0**||82|
|Volunteer Expenses||181||0||**181**||149|
|Fundraising costs||613||0||**613**||0|
|WalsgraveHouse||0||0||**0**||1,600|
|TOTAL ResourcesExpended||44,312||232||**44,544**||28,665|
||||||||||
|Net Income (expenditure)||12,502||(232)||**12,270**||1,601|
|Totalsfunds b/forward||5,222||738||**5,960**||4,359|
|Totals funds c/forward||17,724||506||**18,230**||5,960|
All the Charity’s operations are classed as continuing. Movements on reserves and all recognised gains and losses are shown above.
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_Hope into Action: Coventry_
## **Statement of Financial Position at 31 March 2022**
|||**Note**|||**2022**|||**2021**|
|---|---|---|---|---|---|---|---|---|
||||||**£**|||**£**|
||**Current assets**||||||||
||||||||||
||Recoverable capital expenses|5|||**2,750**|||901|
||Debtors||||**1,313**|||0|
||Cash at bank and in hand||||**14,275**|||5,059|
||Total assets||||**18,338**|||5,960|
||Less creditors||||**(108)**|||0|
||||||||||
||**Net assets**|6|||**18,230**|||5,960|
||||||||||
||**The Funds of the charity**||||||||
||||||||||
||Restricted Funds|7|||**506**|||738|
||Unrestricted Funds|7|||**17,724**|||5,222|
||||||||||
||**_Total Funds_**||||**18,230**|||5,960|
||||||||||
These accounts are prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)).
The financial statements on pages 6 to 11 are hereby approved:
## _Matt Jermyn_
Trustee
Date: 3 November 2022
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_Hope into Action: Coventry_
## **Notes to the Financial Statements for the year ended 31 March 2022**
## **1. Accounting Policies**
## _**a. Basis of preparation**_
The accounts are prepared under the historical cost convention and include the results of the charity’s operations which are described in the Trustees’ Report and all of which are continuing.
The financial statements have been prepared in accordance with the Charities Act 2011 and 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 2019) – (Charities SORP (FRS 102)).
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The principal accounting policies adopted in the preparation of the financial statements are set out below.
## _**b. Income**_
**Voluntary gifts and donations** and other income are accounted for when received by the charity.
**Gift aid claims** are accounted for on an accrual basis.
## _**c. Expenditure**_
Expenditure is accounted for on an accruals basis.
## _**d. Fund accounting**_
Unrestricted funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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_Hope into Action: Coventry_
## **2. Donations**
|Individual Donations
Awards for all: National Lottery Fund
West Midlands Combined Authorities
Hope into Action
Walsgrave Baptist Church
The Bridge Benefice|**2022**
**Unrestricted**
**funds**
**£**
**8,242**
**10,000**
**2,000**
**2,000**
**1,562**
**1,437**
**0**
**0**
**0**
**25,241**|**2022**
**Restricted**
**funds**
**£**
0
0
0
0
0
0
0
0
0
**0**|**2022**
**Total**
**funds**
**£**
**8,242**
**10,000**
**2,000**
**2,000**
**1,562**
**1,437**
**0**
**0**
**0**
**25,241**|**2021**
**Total**
**funds**
**£**
2,367
0
0
2,750
0
600
1,401
5,000
500|
|---|---|---|---|---|
|Heart of England Community Foundation|||||
|29th May 1961 trust
Hope Springs Church|||||
|||||12,618|
## **3. Employment costs**
|Salaries
Social Security costs
Pension contributions|**2022**
**2021**
**£**
**£**
**26,374**
**17,963**
**0**
**0**
**371**
**0**|
|---|---|
||**26,745**
**17,963**|
## **4. Related party transactions**
There were no related party transactions during the period.
## **5. Recoverable capital expenses**
Capital expenditure incurred and recovered from the investors subsequent to the financial year end.
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_Hope into Action: Coventry_
## **6. Summary of Net Assets by Fund**
|**Unrestricted funds**
General Reserve Fund
**Restricted funds**
Heart of England Community Foundation|**Net current**
**assets**
**Total net**
**assets**
**£**
**£**
16,974
**16,974**
506
**506**|
|---|---|
||17,480
17,480|
**General reserve fund** is the balance of funds available for direct allocation and distribution.
**Restricted funds** are those amounts that were donated with the express wishes of the donors that they may only be contributed to a specific activity.
## **7. Statement of Funds**
|**Unrestricted funds**
General Reserve Fund
**Restricted funds**
Heart of England Community
Foundation|**01/04/202**
**1**
**Income**
**resources**
**Outgoing**
**resources**
**31/03/202**
**2**
**£**
**£**
**£**
**£**
5,222
56,814
45,062
**16,974**
738
0
232
**506**|
|---|---|
||5,960
56,814
45,294
17,480|
11