**Charity number: 1183458**
## **CILANTRO HOPE FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **CILANTRO HOPE FOUNDATION**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 - 10|
## **CILANTRO HOPE FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024**
**Trustees** Damien Logue, Chair Marcus Macdonald, Trustee Simon Platt, Trustee Justina Simpson, Trustee **Charity registered number** 1183458 **Principal office** 3rd FLoor 161 Marsh Wall London E14 9SJ **Accountants** Goodman Jones LLP Chartered Accountants 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Page 1
## **CILANTRO HOPE FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees present their Annual Report together with the financial statements of the Charity for the year 1 January 2024 to 31 December 2024. The Trustees confirm that the Annual Report and financial statements of the charitable incorporated organisation comply with the current statutory requirements, the requirements of the charitable incorporated organisation's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102 - effective 1 January 2019).
## **Objectives and activities**
## **a. Policies and objectives**
The object of the Charity is the provision of relief and assistance of people in need by reason of youth, age, illhealth, disability, financial hardship, or other disadvantage throughout England and Wales. The Charity provides the relief and assistance through the provision of grant giving.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Activities undertaken to achieve objectives**
The Charity raises funds from donations, events such as football competitions, and other fundraising activities. The funds raised are distrbuted to causes that provide services to beneficiaries who require support and that are most in need.
During the year, the Trustees made the decision to close the Charity and have been distributing remaining funds in accordance with its governing document.
## **Achievements and performance**
## **a. Main achievements of the Charity**
During the year, the Charity made donations to other charitable organisations using the funds rasied in previous financial years.
## **Financial review**
## **a. Going concern**
As noted above, the Trustees have made the decision to close down the Charity. Any remaining funds after allowing for close down costs will be distributed in accordance with the Charity's governing document. As a result, the financial statements have been prepared on a non-going concern basis.
## **b. Reserves policy**
As it is the intention of the Charity to distribute remaining funds and then close down, the Trustees do not consider it necessary for the Charity to retain funds in reserve.
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## **CILANTRO HOPE FOUNDATION**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **c. Financial summary**
During the period, the Charity raised funds totalling £nil (2023: £nil). At the balance sheet date, the Charity had unrestricted reserves totalling £267 (2023: £6,110) available for distribution as determined by the Trustees.
## **Structure, governance and management**
## **a. Constitution**
Cilantro Hope Foundation is a registered charity, number 1183458, and is constituted as a charitable incorporated organisation under a CIO-Association Constitution dated 16 May 2019.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Damien Logue** Chair
Date: `21-10-25`
Page 3
## **CILANTRO HOPE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Note**
**Income from:**
**Total income**
**Expenditure on:**
Raising funds
4
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**-**
**-**
**5,843**
**5,843**
**(5,843)**
**6,110**
**(5,843)**
**267**|**Total**
**funds**
**2024**
**£**
**-**
**-**
**5,843**
**5,843**
**(5,843)**
**6,110**
**(5,843)**
**267**|_Total_
_funds_
_2023_
_£_
_-_
_381_
_2,910_
_3,291_
_(3,291)_
_9,401_
_(3,291)_
_6,110_|
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 6 to 10 form part of these financial statements.
Page 4
## **CILANTRO HOPE FOUNDATION**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Note**
**Current assets**
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|**1,010**
**1,010**
**(743)**|**2024**
**£**
**267**
**267**
**267**
**-**
**267**
**267**|_6,110_
_6,110_
_-_|_2023_
_£_
_6,110_|
|---|---|---|---|---|
|||||_6,110_|
|||||_6,110_|
|||||_-_
_6,110_|
|||||_6,110_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Damien Logue** Chair
`21-10-25` Date:
The notes on pages 6 to 10 form part of these financial statements.
Page 5
## **CILANTRO HOPE FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. General information**
Cilantro Hope Foundation is a charitable incorporated organisation registered as a charity with the Charity Commission in England and Wales. The Charity's aims are preservation of the provision of relief and assistance to those in need, as stated in the Trustees' Report.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Cilantro Hope Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in Sterling, the functional currency of the Charity, and amounts are rounded to the nearest £.
## **2.2 Going concern**
As noted in the Trustees' Report, the Trustees have made the decision to close down the Charity. Any remaining funds after allowing for close down costs will be distributed in accordance with the Charity's governing document. As a result, the financial statements have been prepared on a nongoing concern basis.
## **2.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Page 6
## **CILANTRO HOPE FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.6 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.7 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **3. Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
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## **CILANTRO HOPE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4. Expenditure on raising funds**
## **Fundraising trading expenses**
|**Unrestricted**
**funds**
**2024**
**£**
Fundraising events
-
_Total 2023_
_381_
**Analysis of expenditure on charitable activities**
**Summary by fund type**
**Unrestricted**
**funds**
**2024**
**£**
Donations
5,843
_Total 2023_
_2,910_
**Analysis of expenditure by activities**
**Activities**
**undertaken**
**directly**
**2024**
**Support**
**costs**
**2024**
**£**
**£**
Donations
5,101
742
_Total 2023_
_2,250_
_660_|**Total**
**funds**
**2024**
**£**
**-**
_381_
**Total**
**2024**
**£**
**5,843**
_2,910_
**Total**
**funds**
**2024**
**£**
**5,843**
_2,910_|_Total_
_funds_
_2023_
_£_
_381_|
|---|---|---|
|||_Total_
_2023_
_£_
_2,910_|
|**Summary by fund type**
Donations
_Total 2023_
**Analysis of expenditure by activities**
Donations
_Total 2023_|||
|||_Total_
_funds_
_2023_
_£_
_2,910_|
||||
## **5. Analysis of expenditure on charitable activities Summary by fund type**
## **6. Analysis of expenditure by activities**
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## **CILANTRO HOPE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Governance costs
_Total 2023_|**Donations**
**2024**
**£**
742
_660_|**Total**
**funds**
**2024**
**£**
**742**
_660_|_Total_
_funds_
_2023_
_£_
_660_|
|---|---|---|---|
|||||
## **7. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 December 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ .
## **8. Staff costs**
There were no employees in either the current or prior periods.
## **9. Creditors: Amounts falling due within one year**
||**2024**|_2023_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**743**|_-_|
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## **CILANTRO HOPE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **10. Statement of funds**
**Statement of funds - current year**
|**Unrestricted funds**
General Funds - all funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds|**Balance at 1**
**January**
**2024**
**£**
**6,110**
_Balance at_
_1 January_
_2023_
_£_
_9,401_|**Expenditure**
**£**
**(5,843)**
_Expenditure_
_£_
_(3,291)_|**Balance at**
**31**
**December**
**2024**
**£**
**267**|
|---|---|---|---|
||||_Balance at_
_31_
_December_
_2023_
_£_
_6,110_|
## **11. Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Current assets
1,010
Creditors due within one year
(743)
**Total**
267|**Total**
**funds**
**2024**
**£**
**1,010**
**(743)**
**267**|
|---|---|
## **12. Related party transactions**
Other than disclosed elsewhere in these financial statements, there were no transactions with related parties requiring disclosure.
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