Registered Charity No. 1177548 ## **Hope into Action: Coventry** Charitable Incorporated organisation TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023 _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 Date of appointment Date of resignation Matthew Jermyn 18 January 2019 Mark Perryman 26 May 2021 Shera Payne 23 November 2021 7 July 2023 Helen Needham 23 November 2021 ## **Address of the Charity** The Halo Centre Progress Way Binley Industrial Estate Coventry CV3 2NT ## **Bankers** The co-operative bank 118/120 Colmore Row Birmingham B3 3BA Account number 6726 4465 Sort code 08-92-99 ## **E-Mail address** Coventry@hopeintoaction.org.uk ## **Website** Coventry.hopeintoaction.org.uk 1 _Hope into Action: Coventry_ ## **Chairperson’s report for the year ended 31 March 2023** I am glad to present the annual accounts for Hope into Action: Coventry. This has been a year of significant change. I am delighted that we have opened a new house in Coventry and that another in Hinckley is almost ready to receive tenants. We have increased our staffing to match and are glad to be welcoming new members to the team. Being able to support people as they work their way out of homelessness is a privilege, and having more capacity for that work will help many more people in the years to come. The care and support the church Friendship and Support groups and our staff give to the tenants makes a profound difference. Opening new houses and welcoming new tenants is brilliant, but it’s even better when tenants no longer need to stay and move out to their own accommodation. Showing people love and care is at the heart of what Hope into Action: Coventry does and will continue to do. All this could not happen without the ongoing support from people giving their time, prayers and money. On behalf of the trustees, thank you to everyone who supports this work. It has an enormous impact, both now and for many years to come. _Matt Jermyn_ Matt Jermyn Chair of Trustees 2 _Hope into Action: Coventry_ ## **Trustees’ Report for the year ended 31 March 2023** The Trustees present their report and financial statements for the year ended 31 March 2023. 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. Trustees are appointed for terms of three years and may serve for a maximum of three consecutive terms. Appointments of additional trustees are made with a view to the skills and experience the board needs to serve the work of the charity. ## **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 regularly. 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 2023, receiving as unrestricted reserves £21,605 (2022: £25,241) in grants and donations, £21,657 (2022: £28,503) in rent and charges, £1,075 (2022: £1,572) in Gift Aid, and £1,441 (2022: £1,498) in training fees. In the current year, £6,158 contributions were received as restricted funds (2022: £Nil), resulting in total income for the year of £51,936 (2022: £56,814). Total unrestricted resources expended during the year, amounts to £47,141 (2022: £44,312), giving a net unrestricted expense for the year of £1,363 (2022: income of £12,502). Restricted funds expended for the year of £6,346 (2022: £232) leaves a net outflow for the year of £188 (2022: £232). The total reserves, consisting of unrestricted reserves of £16,361 (2022: £17,724) and restricted reserves of £318 (2022: £506), amounted to total funds of £16,679 (2022: £18,230). 3 _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 £16,361 (2022: £17,724). The unrestricted reserves are considered to be sufficient for the short term. The charity aims to keep around three 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 significant risks to be the variability of contributions, the dependency on a number of volunteer workers and churches, as well as the safeguarding risks arising from working with vulnerable people. ## **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. 4 _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: 12 January 2024 5 _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 2023. ## **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_ Lindy Bornman 7 Lansbury Close St Neots PE19 2UA Date: 12 January 2024 6 _Hope into Action: Coventry_ ## **Statement of comprehensive income (including Income and Expenditure account) for the year ended 31 March 2023** |||||||**2023**||**2022**| |---|---|---|---|---|---|---|---|---| |**Note**||
**Unrestricted**||
**Restricted**||
**Total**||**Total**| |||**£**||**£**||**£**||**£**| |**Incoming Resources**||||||||| |Grants and Donations
2||21,605||6,158||**27,763**||25,241| |Rent & Charges||21,657||0||**21,657**||28,503| |Gift Aid||1,075||0||**1,075**||1,572| |Training Fees||0||0||**0**||270| |Franchise advising income||1,441||0||**1,441**||1,228| |TOTAL IncomingResources||45,778||6,158||**51,936**||56,814| |||||||||| |**Resources Expended**||||||||| |Employment costs
3||27,473||6,158||**33,631**||26,745| |Professional training||1,979||0||**1,979**||1,040| |Professional services||3,000||0||**3,000**||0| |Tenants support costs||325||0||**325**||58| |Office running costs||3,535||0||**3,535**||3,329| |Council Tax||275||0||**275**||1,391| |Maintenance costs||1,751||0||**1,751**||2,067| |Services||0||0||**0**||363| |Franchise Fees||1,300||0||**1,300**||1,200| |Insurance||765||0||**765**||1,112| |Return to Investors||6,284||0||**6,284**||6,213| |Residents Needs||0||188||**188**||232| |Training||0||0||**0**||0| |Volunteer Expenses||0||0||**0**||181| |Website costs||200||0||**200**||0| |Fundraising costs||254||0||**254 **||613| |TOTAL ResourcesExpended||47,141||6,346||**53,487**||44,544| |||||||||| |Net Income (expenditure)||(1,363)||(188)||**(1,551)**||12,270| |Totalsfunds b/forward||17,724||506||**18,230**||5,960| |Totals funds c/forward||16,361||318||**16,679**||18,230| All the Charity’s operations are classed as continuing. Movements on reserves and all recognised gains and losses are shown above. 7 _Hope into Action: Coventry_ ## **Statement of Financial Position at 31 March 2023** |**Note**||**2023**||**2022**| |---|---|---|---|---| |||**£**||**£**| |**Current assets**||||| |||||| |Recoverable capital expenses
5||**1,432**||2,750| |Debtors||**1,075**||1,313| |Cash at bank and in hand||**15,991**||14,275| |Total assets||**18,498**||18,338| |Less creditors||**(1,819)**||(108)| |||||| |**Net assets**
6||**16,679**||18,230| |||||| |**The Funds of the charity**||||| |||||| |Restricted Funds
7||**318**||506| |Unrestricted Funds
7||**16,361**||17,724| |||||| |**_Total Funds_**||**16,679**||18,230| 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: 12 January 2024 8 _Hope into Action: Coventry_ ## **Notes to the Financial Statements for the year ended 31 March 2023** ## **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. Pension and other post retirement obligations**_ The Charity operates a defined contribution pension scheme which is a pension plan under the workplace pension scheme, set up by the government. A fixed percentage of qualifying earnings are contributed monthly by the employer and the employees into the scheme. The Charity has no legal or constructive obligation to pay any further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and in prior periods. Contributions to the plan are recognised when they are due. ## _**e. 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. 9 _Hope into Action: Coventry_ ## **2. Donations** |
Individual Donations
Walsgrave Baptist Church
The Bridge Benefice
Heart of England
National Lottery Fund
Hope into Action
West Midlands Combined
Authorities|**Unrestricte**
**d funds**
**£**
**17,225**
**1,000**
**3,380**
**6,158**
**0**
**0**
**0**
**27,763**|**Restricte**
**d funds**
**£**
**0**
**0**
**0**
**0**
**0**
**0**
**0**
**0**|**Total**
**funds**
**£**
**17,225**
**1,000**
**3,380**
**6,158**
**0**
**0**
**0**
**27,763**|**Total**
**funds**
**£**
8,242
1,562
1,437
0
10,000
2,000
2,000| |---|---|---|---|---| |||||25,241| ## **3. Employment costs** |Salaries
Social Security costs
Pension contributions|**2023**
**2022**
**£**
**£**
**33,007**
**26,374**
**0**
**0**
**624**
**371**| |---|---| ||**33,631**
**26,745**| Some of the salary costs are covered by restricted donations made specifically for this purpose. ## **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. 10 _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**
**£**
**£**
16,361
**16,361**
318
**318**| |---|---| ||16,679
16,679| **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|**01/04/2022**
**Income**
**resources**
**Outgoing**
**resources**
**31/03/2023**
**£**
**£**
**£**
**£**
17,724
45,778
47,141
**16,361**
506
6,158
6,346
**318**| |---|---| ||18,230
51,936
53,487
**16,679**| 11