Repstered Churity No. 1177448 Hope into Action: Coventry Charitable Incorporated organisation TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024
Hope uito Aclion.. Coveiiln, REFERENCE AIID ADMII%ISTRATIVE INFORMATION Trustees The Charitable Incorpordtcd Orgdnisation was registered on 14 March 2018. The Trnstees who served during Ihe year and up to the dale of signaiure of the financial statements were-. Trustee Matthew Jerniyn Mark Perryman Shcra Pa)-ne Helen Needham Date of 2 ointment 18 January ?019 26 Mily 2021 23 November ?021 23 Novcmber ?021 Date of resi ation 7 July 2023 Address of the Charlty The 14alo Centre Pr(IgFfL'SS Way Binley Industrial EstatL Covcnlry CV3 2NT Banker5 The co-operative bank 1181120 Colmore Row Birniingham Account number 6726 4465 Sort code 08-92-99 E-mail addre55 Coi'entr)'CÉb,hopeiiitoaction.org.uk Website Coventry.hopeinroaction.or&uk
Hope Achon.. Coveiitn. Ch8irpersDn's report for the year ended 31 March 2024 l am glad to present the annual abcounts for Hop¢ into Action.. Coventry. This has been a year of signifiLanl Lhange. l am delighted that we have opened a new house in Coventry and that another in Hinckley is almost ready lo receive tenanis. We hale inLreased our slaifmg to inalch and are gylad io be welcoming new members lo ihe ieam. Being able lo support people as they work iheir '8Y oui of homelessness is a privilege, and having more apacity for that work will help niany more people in the yeatS LO come. The care and support the church Friendship and Support groups and our staff give to the tenants makes a profound diffcrcnce. Opening ncw houscs and wclcoming ncw taiaiits is brilliant. bui it's even b¢tterwh¢n tenants no longer necd to stay and move out to their own acconiniodatioii. Showing people love and care is at the heart of what Hope into Alon.. Covcntry does and will conttnue to do. All this could not happen without the ongoing support from people giving tlieir time, praye and money. On behalf of the trustees, thank YQLL to evcryune who supports this work. It has an enonnous impact, both now and for many yL'ars to Lome. Matt lermyn Matt Jemiyn Chair of Trust
Hope in¢0 Action.. Coveiiln, Trustees, Report for the )'ear ended 31 March 2024 The Trusleeb present their report and financial 5talcments for Ihc year ended 31 March 2024. The financial statements have been prcpared in accordancc with the accoun¢ing policies sel oui in note I lo Ihe accounts and comply with the Charity's trusi deed, the S121emenl of R¢commend¢d Pracii¢e: Accounting and R¢porling by Charilies preparing their accounts in aL¢ordan¢e w'ith ihe Financial Reporting St8lldard applieable in the UK and Republic of Ireland {fRS 102). effective from l January 2019 and with the Charities Act 201 L. The charity. constitutes a public benefit entity as defined by FRS 102. Objectives and aclivities Hope into Action Loventy provides homesf(rthe most vuliierable in 50cicty in partnership with local LhurLhcb. Our modLI is built on the belief that when people havL a 5afL. 5iLurc homc suound¢d by loN'in£ non-.judg.¢mentd relationshirfy Ihi'y will fiMI the srrenkrth ai)d motivation to make positiv¢ life Lhoiles. We wclLomL pL'uple ot all faiths and noiie. all ethniLItILS and SLxualitiL5. Recruitment and Appolntment of Trustees The Constitution provid&q foraminimumof threettuqte. TNsteesare apInt<xl fortenns ofthreeye5 and may seriie fora maximum ofthre¢ ¢onseLulive lemLS. .4ppninlment4 nf additional trLL51ees Ernade wilh a i'iew to th¢ skills and expcricncc thc board nccds to serve Ihe work of the chily. Structurej governgnce and managemenl Hope into Action.. Covcntry is a Cliaritablc Incorporatcd Organisation ('CIO') with rcRistration number 1177548 and is constituted undcr a CO311tUtl0ll datcd 0 February 2018. This ¢harity rais¢s funds from the public. The Trustees have responsibility forthe control and administration of 811 fundsot. the Charity and it goi"erned in accordonce with its Constitulion. The TrusTres fom a committee w,Iiich meets reguW- These meetings al'e alsoattendedbythe SeeretaryandTreJsurer. The cominirree has overall reSnsIbty for strategic planning, policy forniulation, approval and monitoring of programmesand serviLes, finanLe, risk management, staff and volunteers, and premise8. All Trustees gtve of their time freelyand no Trustee remuneration was paid in rhe year. or in th¢ prior y¢ar. The Charity's and other relevant addresses are as shoivii oil page l. Flnanclal revlew The charity has perfornied well over the year to 31 March 2024. receiving as unrestricted reserves £18.263 (2023.. £21.605) in &ts. and donations, £28.81)11?023.' £21.6571 in rent and ¢hargTeN. £89 (2023.. £1,075) in Gift Aid, and £Nil (20223 £1,441 l in ts'dining fees. In the ¢urtenl year, £97,C)30 contributionswcrc rcccivcd as restricted 1-UlS (2023= £6,158). rcsulting in total incibmc fnr the year tsf £144.783 (2023.. £51,936). Total unrcstrictcd rcsourccs cxpcndcd during thc ycar. amounts lo £45.44n1202_?.' £47.141), givinga nel unrestricted income for Ihc yearol'LI,713 {2023: £12.5U21. Restricted lunds expended lor lh¢ year or £37.814 (2023.. £6.3461 leaves a net inflo. forihe year o1-£59.8161?U?3.' outflow of £ I1$1$1. Th¢ tolal rescr¥"cs. collsistiiig OF unrcslricled resern'es of £18,0741?U13.. £16.361 l and restricted reserves of £60,134 {?023.. £3 l 8), amounted to total funds of £78,208 12023= £16,679). Reserves and funds
Hope inlo Action.. Coveiitn, Reserves consist of all retained inwmc available to th¢ Charity and exclude any restri¢taJ fun(Lg ihdt the Charity may bal'e. The chltY CULTently have unres(riC(] rcscTr'c lund5' 01'£18,0741202.3.. £16,361). Thc unrestricted reserves are considered to be svFI-icieni I'or the shori term. The ¢hariry' aims to keep around three months, corc running costs in resen.es at all limes. This is to ensure thc Chariiy is able to meet all of its legal obligaLions should all funding be ithdrdwn. Exemption from 4udit The trustees have taken advantage of the exemptions available to sm211 charities, including the audit exemption. In accordance with the Lharity Commission's guidelines, Trustees must arrang¢ for an indepeiident p¢r60n oraccounlallLry finnto carry out either an audit or ali iLidepeiident examination of their charity'b a¢Lount5 in ca5¢5 where a charity s annudi income is in exc¢s5 of £25,ULIO but less thali £ I million. 'I'h¢'l rubt¢¢b GhosL to have an independent L'xamiiiation iiistLad of uii audit. An cxainiiicr was appviiiied to do an indLyLmdent examinalion of the charity aLcouiits with thL' purposi uf giving th¢ charity's Tnjstsys. support¢, bLMcficiallc5 undthc widLT publiL somi indcpLiident assurdniL ihat the charity's Inoney has bL'Ln properly accounfrd for and acLounting rccord5 wcrc k-ept. Rlsk management The Trustees have considered themajor risks to whiLh thc Charity 18 exroscd and have reviewed those risks and cstablishcd procedures to manage those risks. Guidancc from thc Charity Commission is followed. The Trustees consider SI11]can1 ri.%k8 to be the i"ariabiliiy OF ¢onlribulions, the dependency on a number of v0UnILYr workers and churches, as well as the safeguarding risks arising from working with vulnerable people. Going con¢¢rn The Chariry's aciivities. together with the factors likely to affect its fuNre development, its financial position and its expoqure io liquidity and lash flow dr¢ deqiribed in this Tru%lees' Report. The Charity has suffiLient finanLial resour¢¢q and reg¢Th. ro fund its. aLtivities for the for¥¥¢abl¢ future. As a ¢on£equen¢e. th¢ TTUSt¢C5 believe that the C harity is well placed to manage its business risks succcs81IY and will have sufficient time to adjust its aciiN'ities in line with any change in Lontribution& Accordingly, they continuL to adopt the going coi)ccrn basis in prLpaTing thL annual rLPOrt aiid accounts. Trusttes, responsibilities The Trnstees arc requlrcd under the conslitution of the charfftly and undcr Lharity law lo prepa the irustces, report and the financial stdiemenls in acLOrkn with FRS102 and the Llwity SORP ITrRS 102 The Trusie¢.q musi not approve the linancial stalctllents unlcbs they are 4ali%fi¢d thai ihey L4ve a ttue and fdir .]eW of the gtate of affaii'% orth¢ charity at thc end ol'the financial year andof ils surplu% or deficrt lor that period. In doing bo, the Trustees are responsible lor.. Select suitable accounling policies and then apply thcm consislcntly- Make judgemcnts and cstimates that are reasonablc and prudcnt.. and Prepare the fina182 staienKiits oil Ihc goiiig conccrn basis unle&s it is iiot appropriate lo Lssume that the company will continue on thai basis. Th¢ truste¢s are r¢sponsible for keeping proper accounting records that disclose with reasonable accuracy at any time the finwKial position of th¢ Lharity. They are also r¢sponsibl¢ for safeguardingthe
Hope inlo Achon.. Coveiitn, assets of the charity and ben lor taking reanable sleps for the preN'ention and deiection ol fraud and other irreguLariiies. The trustees have complied with the duly in the Charities Act 2011, to have due regard to guidance published by the Charity Commission on public benefit. Approval This report was a proved by the Trustees and signed on their behalf by.. Chairnian.. Trustees Date.. tsE / KI/2024
Hope into Action.. Coveiiln, Independent Examiner's report to the trustees of Hope into Action: Coventry I repori to the Trusiees on my examination ofthc accounts of Hope into Action= Coi'entry Charitable Incorporated OrEanisalion (Hopc into Aciion.. Covenlry) for thc year ended I l March 2024. Responsibilities and balis of report As the chariry llustees of Hope inlo Action.. Coventry you are responsible for the preparation of the accounts in accordance with the requ¢ments of the Chariti¢s Act 2011 ('the A¢t'l. E repvrt in respect of my examination of Hope inio Action= Coventry's accounis carried oul under s¢¢ts'on 145 of the 201 l Act and in carying out my examination I have followed all the appliLable Directions giv¢n by lh¢ Charity C.OTllTni85iOVb ulldcr scctioii 145(51(b) of thc Acr. Indendent examiner's 5tatemellt hav¢ completed my exaTninalion. I confirni that no material TMattcr5 havc come to my attention i conn¢¢rion wilh ihc ¢xaTnination giving me cause to believL that in any niatcrial rcspcct- AceountinLi reLord%w¢renot kLyt in r¢sCt of thL Trust as rLquirLxl by Sf¢lion 130 of thc ALt- or thc accounts do not accord with those recnrd.q: or the accounts do not comply with the dpplieahlc I'cqwrements concerring the form atKI conteni or accounis bet oul in the Charitics (Accounts and Repon5) Rcbiulution% 2008 othcr than any r¢quir¢meni that thc accounts give a'lrue and fair view wkn.ch is Tkot a mattcr considcrcd as part of an indep¢nd¢nl ¢Aamina¢ion. I haN"e no concm)s andhair Cne acrossno other tnallcrs in connLxtioii w'ith thc cxainination to which attention should b¢ drdwn in this report in order to enable a proper underbtsnding of the accounts to be r¢a¢h¢d. SI)ed.. Lindy Bornman 7 Lansbury Close St Neots PE19 2UA Date- 2024
Hope inlo Actiopt.. Coveiitn, Ststsment of comprehensive incTrme (including Income and Expenditure account) for the year ended 31 March 21124 2024 Total 2023 Total Note Unrestr5cted Re5trl¢ted Incoming Resources Grants and Donations Rent & Charges Gift Aid Franchise advising inLome TOTAL Incoming Resources 18,263 28,801 89 97,630 115,893 28,801 119 27,763 21,657 1,075 47.153 97.630 144.78J 51.936 Resource$ Expended Employmcllt cosL PTofessional training Prote5tsivnal 5crvicc5 Tenants support costs OffiLe njnninki costs Council Tax Maintenance Costs Rcsidencc pi'epai'ation costs Franchise Fees Insurdncc Return to Investors Residents Necds Bank Charges Website costs Fundraising costs TOTAL Resources Expended 22,960 44.991 2,075 270 126 5,972 2,016 2,247 13,390 33,631 1,979 3,000 325 3.535 275 1.751 2.075 270 126 192 5.780 2,016 2.247 13,390 1.500 800 6,186 1,300 765 6.284 188 800 6,1116 55 200 3,426 55 200 3,426 200 254 Net Jncome (expendittsre) Total% fund5 b/fonvard Totsls funds Llfonvard 1,713 16,361 59,816 318 60.134 61.529 16,679 (1,551) 18,230 16,679 All the Charity's operations are cla&sed as continuing. Movernents on reserves and all recognised gains and losses are showii above.
Hope inlo Aclion.. Coveiitn, ststement (Jf Financial Position at 31 March 2024 llote 2024 2023 Current assets Recofv'erable capital expenses Debtors Cash at bank and in hand Total assets Less ¢reditor6 974 89 80,601 81,664 (3,456) 1,432 1,075 15.991 18,498 (1.819) Net assets 78,208 16,679 The Fundx of the charity Restricted Funds Unrestricted Funds 60,134 18,074 318 16,361 Total Funds 78,208 16,679 These accounts are prepared in accordance with Ihe Financial Reporting Siandard applirable in ihc UK and Republic of Ireland {FRS 1021 (effective l January 2019)- (Charities SORP IfRS 102)1. The financial slalemenls on pages 6 to I l are hereby approved: Trustee 24 JEEMYAJ Date.. CK / 11 / 2024
Hope Actiopt.. Coveiiln, Noles to the Financial Statements for the year ended 31 March 2024 l. Aecounting Pollcles ofpreparatiun The accounrs are prepared under the historical cost convention and include the results of the charity's operntions which are described in the Truslees. Report and all of which are continuing. The fmancial slalenients have been prepared in aLeordance with Ihe Charities Acl 2011 and Accounting Reporting by Charili¢s'. Sialenienl ofReconunendeJ Prdclice dppIiLable u) harities preparing their accounls in accordance with the Trinancial Keporting Standaryi applicable in Ihe UK and Republic of Ireland (FRS 102) (effeclive A January 2019) (Charities SORP (FRS 102)). Assets aiid liabilitics a initially recognised ai historical cost or transaction value unless otherwise staled in the relevant accounting policy note(s). The priiicipal accounting policie5 adoptcd in the preparatioii of the fmancial statements are sel out below. b. Inconte Voluntsry gilts and donatlons and otbcr income arc acLounted fur whcn rcccivcd by the charity. Clft Ydld claRms are acLuunt¢d foT on an accrual basits. ExpendtiHre Expenditure is accounted for on an accruals basis. Pension dnd other post retirement obligqtion The Charity operdles a defined conlribulion pension scheme which is a pension plan under the workplace pension scheme. scl up by the govcmmcnt. A fixed perccniage of qualifying eaming5 are conlribuled monthly by the employer and Ihe enwloyeLS inlo the scheme. The Charity has no legal or cOnstctive obligation to pay any further coiitributions even if ihe fund does not hold sufficieni asset% to pay all employees the bcnefits relatinsi to cmployee servie¢ in the ¢utront and ill Priol PCTiods. Contributions to th¢ platl ar¢ r¢cognis¢d when they are due. Fund accoiinting Ilnrestricled funds are general funds that are available for use at the triistees, discrelion in furtherance of the objectives of the Lharity. Restricted funds arc thosc donatLd for usc in a particular area or for Specific purpo8e.s, the use of which is reslricled to that area or purpose. 2. Donations
Hope into Action.. Coveii¢n' 2024 2024 2024 2033 Unr¢strl¢ted funds Rcstricted funds Tot41 funds Total funds Ind ividual Donations Walsgrave Baplisl Church The Bridge Beiicfice All Sainls Cburch Alle51ey Heart of England Coventry Building Society The 29th May 1961 Charitable Ttust Laing Twst 'Severn Trent Water Benefact Trust Naliondi Loltery Community Fund 10,466 1,000 4,609 2.188 10,466 1,000 4,609 2.188 2,000 9,750 5,000 35,000 12,480 13,4(b 17,225 1,000 3,380 2,000 9,750 5,000 -35,000 12,480 13,4110 6.158 115893 3. Employment Costs 2024 2023 Salaries Social Security costs Pcnsion conrributions 44,106 33,007 825 624 33.631 44,991 Some of the salary costs are covered by restricted doiiations made specifically for this pury)ose. 4. Related party transactions There were no related party trdnsaLtions during the period. 5. Recoverable capfital expenses Capital expenditure inLutYed lind recovered from the investOTS subsequent to the finan¢ial year end. 6. Summary of Net Assets by Fund 10
Hope inlo Action.. Coveiifn, Net current assets Totsl net assets Unrestrlctid funds General Reserve Fund Restricted funds Laing Trust Sevem Trent Water Benefact Trust National Lottery Community Fund 18,074 18,074 20,326 7,089 12,719 20,326 7,089 12,719 20,000 78,208 78,208 General resen'e fund is ihc balanLc of funds availablc for dirccl allocation and distribution. Restricted funds are ihosc ainounls that wcre dondtcd ll'iih thc cxprcss wishcs uf thc that they may only be contributed to a specitic aciivity. 7. Statement of Funds 011041202 Income re50urcL'5 Outgolng 311031202 resources Unrestricted fvnds General Reserve Trund 16.361 47,153 45,440 18,074 Restricted funds H¢art of England Covcntry Building Society Th< 29th May 1961 Charitable Trnst Laing Trust Sevem Trent Water Bcncfact Trust National Lottery Community Fund 318 2,000 9,750 5,000 35,000 12,480 13,400 20,QQO 2,318 9,750 5.000 14,674 5,391 681 20J26 7,1)89 12,719 20,000 16,679 144.7¥3 3,254 78.2U8