Charfty reglstratlon number 1177563 HOPE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022
HOPE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Jo Nicdl Amy Kilty Sam Scatr Charlty number 1177553 Prfnclpal addre88 73 - 75 Front Street Chester le Street Durharn DH3 3BJ Independent fjxamlner Robson LaldlerAccountanl8 Lim6bJ Femwood Houge Femwood Road Jesmond Newcastle Upon Tyne Tyne and Wear England NE2 ITJ
HOPE CONTENTS Page Trustees, report Indop8ndent ex8mlnel$ report statement of financ1818thvOtles Balance sheet Notes to the finandal Statements 8-11
HOPE TRUSTEES, REPORT FOR THE YEAR ENDED 30 APRIL 2022 The Iru81ees pres8nl their annual report and flnanclal slalement8 for the year ended 30Aprfl 2022. The trustees have adopl&d the provislon8 of Accounts'ng and Reporting by Charkies.. Slat&ment of Recommendgd Practlcg applicable lo charllies preparlng their accounts in accord?nGe with Ihg Financlal Repoiting Standard applica8 in the UK and Republic of Ireland {FRS 1021 leff8clThie 1 January 20191. ObJ8ctiva# and actlvltles Th8 charity's objects are to support the homele88 communlty and those who are vulnerablo and dè8tllLrte existing in the North East Publlc beneflt The Trustees have consulted the guldance m8de avallable by the Charity Commlssion for England and Wales on the Publlc 88nefit requirement of the Chariti88 A¢1. The Tru81ees are confident that they have compled wlth their duty under Charities Act in that they havg hod due regard to public benefit guidance published bj the Commission. Achlevements and pèrfomiance Flnanclal revlgw Total inGome for the year was £69,420 12021.. £36,000) and totsl expondtture for the year was £67,389 12021.. £32,567) lethng an overall surplus of £2,031 {2021.' £3,364). At the yoar end the Charfty had ctosing re8erve8 of £12,397 (2021.. £10,366) all of whlch were cla888d a8 unreslricled. R688rie8 poIIcy It18 the pollcy of the charity that free reserves lunresmcted resery&s not tiod up in fixed or other long tem 8s8etsl should be maintained al a level equlvalent to between three and Six month's expendrture. The trustees consider8 that reserves al thi8 level 11 ensure that, In the event of a signiflcanl drop in funding, they will be able to contlnue the charity's current aclivllies whlle Gon8ideratlon Is glven to way8 in which addlllonal funds m?y be raised. At the year end the charity had free reserves of £10,375 (2021.. £6,605) which is slightly less than the slated pollcy, however this was the fourth year of the charity so reserveg are &xpected lo build up gradually over the next few years. Rlsk assessm8nt The trustees havo assessed the major risk$ lo which the charity is exposed, and are satisfied that systems are in placè to milgale exposure to the major risks. strncturg. govornancè and management The charity is conlrollod by It8 governlng document, a deed of trust and constltutes an unincorporated charity. The Iruslees who served during tho y&ar and up to the date of slgnature of the financial st8temen18 were.. Jo Nlcoll Amy Kilty Sam Scarr Recrultment and appolntment of tru8toe8 From tlme to Ilme1118 nece88ary for the Charlly lo reeru(t new Trustees lo replace those that havo either resigned during Ihair term of offlce, or by way of anticipats'ng planned retirements after the completion of a single term. en a vacancy oGcurs, the Board will determine the mix of skills and experlence needed so as lo ensure a fully functioning team of Trustees and wlll seek to idèntify individuals who appear to have the qualille8 and Intere81 In what do.
HOPE TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 30 APRIL 2022 Organisatlonal structure Thè charity is govorned by a Board of Tru8tee8. The Board meet5 as is required, to deal wllh any speclfic issues rdatlng to the running of the Chaty. Thg tru81888' r8POrt was approved by th8 Board of Trustee8. Jo Nlcdl Trusteo Date..
HOPE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE I report lo the trustees on my examlnatlon of the flnandal statement8 of Hope Ilhe charity) for the year ended 30 Aprll 2022. Rgsponslbllftlès and basls of report As the tru8tee8 of the charity you are responslble for the preparaUon of the financial Blalemenls In accordance with the requirement8 of the Charlli88 Act 2011 (the 2011 Act). I report In r88pecI of my examination of the Charity's financial slatem8nts carrled out un(ler section 145 of the 2011 Act. In carrying out my examination I have followed all the appStcable Dlrections glven by the Charity Commlssion under secllon 14515llbl of the 2011 Act. Independent examlner'8 8tatement Your attention is drawn to the fact that the charity ha8 prepared financial slalemenls in accord8rrR wlh Accountlng and Reporting by Charities preparfng Ihelr accoun18 In accordance wffh the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 1021 In preference lo the Accounting and Reporting by Charilles.. Statement of Recommenijed Practice Issued on 1 April 2005 which Is r6f6rred lo in the axlanl regulallons bul has now boon thdrawn. l understand that thls has been done in order for fi'nanclal $181emenls to provlde 8 true and falr &W in accordanc@ wtth Gèner8llyAcceptedAccountlng Practice effective for reporting perfods beginning on or after 1 January 2015. I have completed my &xaminatlon. I conflrm that no mattèrs have com8 to my attention in GonngGtion th the examination giving me ¢au3e to believe that In any material respect.. a¢counlirvJ records wère not kept in respect of the chartty as required by section 13Q of the 2011 A¢t,' or the financial 8latemen18 do not accord wth those recDrd8', or the financial statem8nl$ do not wmply with the appllcable requirements conceming the form and content of accounts sel out in Ihg Charities (Accounts and Reports) Regulallons 2008 other than any requirement that the accounts give a true 8nd falr view whl¢h Is not a matter con81dered as part of an Independent examlnatlon. I h8V8 no concems and have come across no other matters in Gonneclion th thg examination to whlch attention should be drawn in th1$ report In order to enable a proper understanding of the finan¢ial statements lo b& reached. Nlck Cunnlngham F CA Robson Laldler AcGountsnts Llmlted Fernwood House Fernwood Road Jesmond N8wcastl8 Upon Tyne Tyne and Wear NE2 1TJ England Dated.. 1710212023
HOPE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30APRIL 2022 Unrestrlcted Unrestrictsd funds funds 2022 2021 Notes Donations and legacies Charitable activities 9,256 60,164 17,849 18,151 Total Income 69,420 36,000 Raising fund8 3,187 69 Charftable activitles 64,202 32,567 Total 9xpond11e 67,389 32.836 Not Income for th8 yearl Ngt movement In fund8 2,031 3,364 Fund balances at 1 May 2021 10,366 7,002 Fund balanGes at 30 Aprll 2022 12.397 10,366 Th8 statement of financlal actlvlli88 Includes all galns and losses recognlsed In the year. l income and exponditure derive from continulng acllvltle8.
HOPE BALANCE SHEET AS AT30 APRIL 2022 2022 2021 Notes Flxed assets Tangible assets 2,022 3,761 Current assets Cash at bank and In hand 22.975 17,157 Crodltoys: amounts falllng du• within one year (8,0351 {4.3081 Net current 888ets 14,940 12,849 Totsl assets1888 curront Ilabllltles 16,962 16,610 Credltors: amounts falllng due aftor more than one year 11 14,565} 16,2441 Net asset8 12.397 10,368 Income fund8 Unreslrfcled fvnds 12,397 10,366 12.397 10,366 Islil z3 The financlal statements were approved by the Tnjslees on ......................... Jo Nicoll Trustee
HOPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30APRIL 2022 AG¢ountlng pollcles 1.1 Accountlng ¢onv&ntlon The financlal slalemenls havg been prepared in accordance with the charity'8 goveming document, the Charllie8 Act 2011 and "Accounting and R8POrting by Charitie8'. Statement of Recommended PractiGe applicable to ¢haTltiÈs preparing their accounts in accordance with the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 (eff8Ctive 1 January 20191" The charity Is a Public 8en6fil Entity as defined by FRS 102. The charity has taken advantage of the provlslon8 in the SORP for ¢hariti¢s applying FRS 102 Update Bulletin 1 not to prepare a Slalament of Cash Fl¢)W8. Golng ¢oncern The financial sl8tem8nts have bean prepared on a golng concem ba818 on the ground that Gurrenl and future sources of funding or support wlll be more than aLlèquale for the charlty's needs. Thé Trustees have considored a period of 12 month8 from the balance sheet dale and cgnsider no further disGlosures relating to the charity's ability lo continue 88 a going concem need to be made. The flnandal 8talement8 are prepar8d in 8terllng, whlch 18 the funcllonal currency of the charty. Monetsry amounts in these financial 8t8temen18 are rounded to the ne8re8t £. The flnancial 51atemgnls havo boen prepared under the historfcal cost convention. The company ha8 applled the followlng accounting policies= 1.2 Charltable funds Unre81rlcted funds are available for use at the discretion of the trustees In furtherance of thelr charitsble Objecve$. Reslricled fund8 are subject to speclflc cond116on8 by donors as to how they may be used. The purposes and uses of the r881rfct8d fund8 are sat out In the notes to the flnaneial Slatemenls. Endowmenl fund8 are subject to $pe¢ifiG conditions by donors that the capital must be m8inlaine(I by the charity. 1.3 Income All Incoming rgsourGgs arg included in the Slalement of Flnanclal Acllvltles {SOFAI when th8 charily18 enlllled to the income and the amount can be quantified wrth reasonable accuracy. The followng Specific poltGi9s applled lo particular categories of income.. Voluntary income receed by way of grants, donations and gift8 18 included In full In the Slalement of Financial Aclivllle8 when recalvat6. Grants, where enlillement 15 not Gondilional on the delivery of a 8pecific performance by the charity, aro recognised when the charity becomes unconditionally enlltled lo the grant. Incomlng resources from other trading activities are recogni8ed in full in the Stat8ment of Financlal ActiMtse$ when recelvable. 1.4 Expondlture All expenditure 18 accounted for on an accruals basis and has been classified under headings that aggregate 811 costs related lo the category. Where eosls eannol be directly attributed lo particular headings they have been allocated to activllies on 8 basis consSslent wllh use of the resources. Expendlture includes any VAT whlch cannot b& fully recovered, and is rgported as part of the expenditura to which il relates.. - Charitsble exponditure comprises those c0818 Incurred by the chaty In the dellvery of Ils activities
nd Services for 118 beneficiarie8.
HOPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2022 Accountlng pollcles {Contlnued} 1.6 Tanglblè fixed assets Tangible fixed as8els are initialFy measured at C08t and subsequently measured al cost or valuation, nel of depreciation and any impaimienl108se8. DepcIatIon18 COgnIsed so a8 to ¥Mlle off the cost or valuation of 888818 le88 thelr r88ldual values over their useful lives on the following bases.. Fixtures and fittings Motor vehicles 200/0 81raigM Ilne 20% slr8ighl11ne The galn or loss arising on the disposal of an asset is detemined as the diffarence between the Sale proceed8 and the carrying value of the asset, and is recognised in the Statement of finanGial activille8. 1.6 Impairment of fixed assets At each reportlng ond date, the charity revlews the carrying amounts of Ils tangible assets lo delermlne whether there is any indication that those assets have suffered an impairment loss. If any such IndatIOn ex181s, the recoverable amount of the asset is estsmaled in order to delerniine the extent of the Impairment 1088 Irf any). 1.7 Cash and cash equlvalgnts Cash and cash equivalents Include cash in h8nd, depo8i18 held at call with banks. other short-lemi liquid investments wlth origlnal rnaturitles of three months or le88. and bank ovardrafts. Bank overdraft8 are 8hovm within borrowings In currenl Ilabllllles. 1.8 Taxatlon AS a charity, the Company Is exempl from tax on in¢ome and galns to th8 extent that Ihe8e are applled to 8 charitable objects. No lax charges have arisen in the tharity. 1.9 Employee benèfits The cost of any unu88d hollday entitlement18 recognised In the period in which the employee's servi5 are reG9ived. Terniinalion benefrts are recognised Immediately 88 an expense when the charty Is demon8trably committed to lermlnate the employment of an employee or lo provlde leKmlnatlon benefit8. 1.10 Retlremertt b8neflts Paymen18 to defined contiibulion relirem6nl benefft schemes are charged as 8n expense as they fall due. 1.11 Leases Rentsls payablè under operallng leasès, Includlng any lease Incenllve8 recelved. are charged a8 an expen86 on a slralght line basls over the term of the relevant lea8e. 1.12 Dèbtor8 and credltors Trade debtor8 are recognised at the selllemenl amounl due after any trade dlscount offered. Prepayments are valued at the amount pr8paSd after takSng account of any trade discounts due. Creditors and provisirns are recognls8d where the charlty has a pre8enl obllgation resulting frorn a past event that will probably result in the Iranyfer ol funds to a Ihlrd party and the amount due lo settle the obligation can be meaSUd or estimated reliably. Credllor8 and provlsions are nom)ally Iecognlsed at their sottlemenl amount after allowing for any trade dlscounls due.
HOPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30APRIL 2022 Donatlong and legacies Unrestrlcted Unrestricted funds funds 2022 2021 Donatlon5 and grft8 Grants 9,256 5,465 12,384 9,258 17,849 Grants receSvable for core activities Covid-19 grants 12,384 12,384 Charltable acttvltle8 Charltable Charltable actlvltles actlvltles 2022 2021 Sales 60,164 18,151
HOPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2022 Charltable a¢tSvltl¢$ Charltabl8 Charitabl activities activities 2021 2022 staff costs Depreclation and Impairment Purcha8e8 Rent Travelling and motor expenses Heal and Ilght Rates Insurancg Repairs and maintenance Miscellaneous expenses Postage Telephone and Intemel Computer costs Bank charge8 20,248 1,739 3.172 12.305 5,549 2.486 2.485 274 11,869 8,408 1,739 3,347 9,720 3,100 2,413 274 755 118 452 543 430 671 61.922 30,767 Share of govemance c08ts (see note 51 2,280 1,800 64.202 32,567 Supportcosts Support Govemance Gost$ 2022 Support Govemance costs ¢09ts 2021 Independent examination fees 2.280 2,280 1,800 1,800 2,280 2,280 1,800 1,800 Analysed between Charitable activitie3 2.280 2,280 1,800 1,800 Tru8ts08 During the year wages totalling £20,248 (2021.. £8,408) were pald lo Ms J Nlcoll for employm8nt in the charfty shop and for fundraising purposes which is over and above nomial trustee duties. The trustees are aware of tho nessary guidanGe on transartions wth tru8tees. None of the trustees lor any persons connected wllh them) rècelved any exwnses from the tharity dung the year.
HOPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2022 Employg9S The average monthly number of employees during the year was.. 2022 Number 2021 Number Employment CO8ts 2022 2021 Wages and salaries Other pension costs 19.948 300 8,408 20,248 8,408 There were no employee8 wh08e annual remuneration w88 more than £60,000. Tanglble flxod a89ots Fixtures and vehicles littin05 Total Cost At 1 May 2021 1,975 8,720 8,695 AI 30 April 2022 1,975 6,720 8,695 D&pr8clatlon and Impalrmont Al 1 May 2021 Depreciation charged In the y8ar 1,1(6 395 3,828 1,344 4,934 1,739 At 30 April 2022 1,501 5,172 6,673 CaTrylng amount At 30 April 2022 474 1,548 2,022 At 30 April 2021 869 2,892 3,761 10-
HOPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2022 Crodltors: amounts tslllng due wlthln one year 2022 2021 Notes Bank loans Obllgations under fonance le¥8es othor taxation and social securlty Othèr creditors Accrua18 and deferred Income io 12 1,800 1,758 752 1,849 3,600 1,800 8,035 4,308 10 Loans and ovenlrafts 2022 2021 Bank loans 6,365 8,000 Payable wthin one year Payable after one year 1,800 4,565 1,756 6,244 11 crodltors: amounts falllng dug aftor morfj than one year 2022 2021 Note$ Bank loans 10 4,565 6,244 12 Flnance lease commltments Future mlnlmum lease payments due under fingnce lea888'. 2022 2021 Wlhin one year 752 The hlre purchase 18 Secured on the charity'8 motor vehldes. 13 Rglat9d party transaGtlons There were no (Ilsclosable related party tran8actions during the year other than those delail8d in note 6 12021 none). 11