Registered Charity no. 1183771
Hopespring
Trustees Annual Report and Accounts Year Ended 31st August 2020
Hopespring
Year Ended 31st August 2020
Contents Page
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustee's Annual Report | 2 |
| Independent Examiners Report | 6 |
| Statement of Financial Activities | 7 |
| Statement of Financial Position | 8 |
| Notes to the Financial Statements | 9 |
Hopespring
Year Ended 31st August 2020
Legal and Administrative Information
Reference
The Charity is called “Hopespring” which is also known as Hopespring Sunderland and is registered with the Charity Commission for England and Wales. Hopespring is a Charitable Incorporated Organisation (CIO) incorporated on the 7th of June 2019.
Registered Charity Number 1183771 Registered Office Hopespring 10 Sea View Road West Sunderland SR2 9HA 7th of June 2019
Date of incorporation
The Trustees
The trustee's who have served from the 7th of June 2019 until the date this report was approved are:
Lois Gott Appointed 18/11/2019 Dr Chikezie Okike Appointed 07/06/2019 Dr Myra Belmont Herbert Appointed 15/08/2019 Joanne Dunnett Appointed 07/06/2019 Jenny Finlayson Appointed 09/06/2019 Resigned 24/09/2019
Key Management Personnel
Operations Manager Strategic Manager Social Care Manager Executive Head teacher Primary Bankers Lloyds Bank 54 Fawcett Street Sunderland Tyne & Wear SR1 1SF Independent Examiner: Nigel Wyatt BSC FCA Wyatt & Co Chartered Accountants 125 Main Street Garforth Leeds LS25 1AF
1
Hopespring
Year Ended 31st August 2020
Trustee's Annual Report
Mission Statement
Hopespring works throughout Tyne and Wear seeking to serve the various Educational, Physical and Mental Health needs of the young people in our region. With a highly committed team of trained staff and full time volunteers, we provide support and care for some of the most vulnerable people in society through our people-based interventions.
Principal Objects
The principal objects of the charity are as follows:
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1 For the public benefit, the provision of education in particular, but not exclusively, by providing schools for children aged 11 to 16 who in particular, but not exclusively for those are deemed to be vulnerable and emotionally/behaviourally complex, who are at risk of, or have already been, excluded from school or from alternative provisions in the North East of England and such other parts of the United Kingdom as the trustees may from time to time think fit.
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2 For the public benefit, the prevention and/or relief of poverty among people who are in conditions of need, hardship or distress in the United Kingdom by providing in particular but not exclusively, supported accommodation and transitional support for individuals leaving the care of the local authority.
In fulfilment of the principle objects the following activities are undertaken:
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1 Therapeutic schools for the most vulnerable and emotionally/behaviourally complex young people who are at risk of, or have already been, excluded from school or from their alternative provision.
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2 Mother & Baby Supported Accommodation for vulnerable young mothers.
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3 Support for care experienced young people transitioning to independent living.
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4 Christmas gifts for cared for children in Sunderland.
Achievements and Performance
Hopespring Therapeutic Schools
Following extensive consultation with Together for Children, we opened a new school to serve the city of Sunderland. Hopespring Sunderland is now registered as an independent school with the Department for Education with places for up to twelve pupils aged 11-16 years who are demonstrating significant therapeutic need, including those who have been excluded from mainstream education and those who are at risk of permanent exclusion.
2
Hopespring
Year Ended 31st August 2020
Trustee's Annual Report
Our school in Newcastle has continued to expand and has supported 12 young people on roll full-time from 5 different Local Authorities. Staff have worked closely with families, schools, local authorities and supporting agencies to bring transformation to the lives of the young people in our setting.
Both of our schools have successfully supported young people to re-engage with learning, gain recognised qualifications and effectively transition on to further education or employment.
Our Therapeutic Schools have remained open throughout the Coronavirus pandemic, even staying open throughout half-term and summer holidays with staff working voluntarily to support the most vulnerable young people and families who have been adversely affected by the pandemic.
Mother & Baby Supported Accommodation
Our Mother & Baby Supported Accommodation has continued to provide tailored support and a safe nurturing environment to vulnerable pregnant young women and young mothers in Sunderland. Most of our young mothers are care experienced young people. We have seen amazing outcomes in the lives of many of our mums and their babies and have tailored support for those whose stories don’t progress as well.
Throughout the coronavirus pandemic, we took in multiple emergency referrals from social services throughout the North East as the pandemic caused young mothers domestic difficulties to exacerbate.
Support for care experienced young people
Each week we have provided in excess of 80kg of food to Sunderland’s Next Steps team to support care experienced young people transitioning into independent living. The donations included fresh vegetables and fruit, healthy ready meals, canned and packaged foods as well as toiletries, household cleaning products and other items essential for getting settled into independent living.
Christmas presents - cared for children
This year we provided 549 good quality Christmas gifts for the cared for children in Sunderland as well as over 100 presents for all those who had been adopted this year. We also gave over 150 luxury Christmas hampers with items donated by Together for Children staff to care experienced young people in Sunderland who have left care and would need Christmas goodies they would not otherwise have had.
Our team was able to raise the much needed funds by carol singing in our local supermarkets and receiving kind donations from the public.
3
Hopespring
Year Ended 31st August 2020
Trustee's Annual Report
Feature Plans
To open a Residential Childrens Home in Sunderland that accommodates up to three children, from the age of 12 -18, who have emotional and/or behavioural difficulties.
Reserves Policy
The Trustees and Management Team have developed the reserves policy to assist in strategic planning and considering how new projects or activities will be funded. This is also used when reviewing the financial year and to inform the budget process in consideration of balanced budgets or if reserves need to be drawn down or built up. The Charity's reserve policy also informs the budget and risk management process by identifying any uncertainty in future income streams and forecasting ahead for the forthcoming five years. The amount held in reserves is also monitored by the Trustees and Leadership Team during the course of the year as part of the charity's budgetary processes. The Trustees have adopted a reserves policy which they consider appropriate to maintain the activities of the charity in case of unforeseen circumstances or a drop in funding.
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1 To hold an unrestricted funds balance that has a value of no less than three months and no more than 6 months running costs.
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2 To designate the appropriate fund value required for the Charity to meet all of its contractual obligations in the event it was required to shut down.
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3 To invest excess unrestricted funds into new or existing charitable activities to further enhance the service provision delivered. Use of unrestricted funds is to be carried out on a priority and needs assessment.
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4 Restricted funds are to be spent in the time frame and in the manner outlined by the funder or the donor.
At the year end the Charity held more than three months of unrestricted funds. The formation of a designated fund did not take place during the financial year due to the set up and transitional year the Charity has gone through. It is the Board's intention over the medium term to set aside a designated fund for contingency purposes.
Governance Structure
Hopespring is a Charitable Incorporated Organisation. The governance of the Charity is overseen by the trustee's of which there must be a minimum of three members on the board at one time per the constitution. The day to day running of the organisation is delegated to the management team.
Trustee's meetings are held regularly throughout the year to give oversight and direction to the Charity.
Under the requirements of the constitution, in addition to the statutory powers of appointment, a new Trustee may be appointed by a resolution of the Trustees passed by a majority of the Trustees for the time being.
4
Hopespring
Year Ended 31st August 2020
Trustee's Annual Report
Public Benefit Statement
The Trustee's have referred to the Charity Commission's general guidance on public benefit when reviewing the Organisations aims and activities. The Trustee's are satisfied that the activities and aims of the Charity meet the guidance of Public Benefit outlined by the Commission.
Financial Review
The year ending 31st of August 2020 marked the first full year of activities undertaken with the organisational structure of Hopespring. The combined activities of the Charity has resulted in an income of £455,000 and expenditure of £362,000 leading to a surplus of £93,000. As part of the Charity's launch a range of generous grants and donations from supporters were given to help provide a firm financial foundation for the Organisation to operate. The total income from Grants and Donations amounted to £102,000 during the year. The provision of grants and donations during the year has put the Charity in a strong financial position to carry out its operations and invest in future activities against the backdrop of economic uncertainty caused by Covid-19 and Brexit.
At the year end the unrestricted funds were £87,719 and the restricted funds were £4,971.
Going Concern
The Trustee's are satisfied that the Charity is a going concern and do not know of any uncertainties regarding the organisations ability to continue operating as a going concern.
Approved by the Trustees of Hopespring
Name of Trustee:
----- Start of picture text -----
Lois Gott
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───────────────────────────────────────────────────
Signed on behalf of the Trustees: Date of approval:
─────────────────────────────────────────────────── 08/12/2020
───────────────────────────────────────────────────
5
Hopespring
Year Ended 31st August 2020
Independent Examiners Report
I report to the trustees on my examination of the financial statements of Hopespring ('the charity') for the year ended 31 August 2020.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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 confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
09/12/2020 Nigel Wyatt BSC FCA Date: Independent Examiner 125 Main Street Garforth Leeds LS25 1AF
6
Hopespring
Year Ended 31st August 2020
Statement of Financial Activities
| 2020 | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | ||
| Note | £ | £ | £ | |
| Income | ||||
| Donations and legacies | 41,627 | 60,782 | 102,409 | |
| Charitable activities | 313,770 | 3,948 | 317,718 | |
| Activities for generating income | 2 | 65 | - | 65 |
| Investment Income | 25 | - | 25 | |
| Transfer of charitable activities | - | 15,500 | 15,500 | |
| Other Income | 19,323 | - | 19,323 | |
| ────────── | ────────── | ────────── | ||
| Total Income | 374,810 | 80,231 | 455,041 | |
| ────────── | ────────── | ────────── | ||
| Expenditure | ||||
| Expenditure on charitable activities | 4 | 285,684 | 75,259 | 360,943 |
| Expenditure on trading activities | 5 | 1,407 | - | 1,407 |
| ────────── | ────────── | ────────── | ||
| Total Expenditure | 287,091 | 75,259 | 362,350 | |
| ────────── | ────────── | ────────── | ||
| ────────── | ────────── | ────────── | ||
| Net income / (expenditure) | 87,719 | 4,971 | 92,691 | |
| ────────── | ────────── | ────────── | ||
| Net income and net movement in funds | ||||
| Total funds brought forward | 14 | - | - | - |
| Transfers | 14 | - | - | - |
| ────────── | ────────── | ────────── | ||
| Total funds carried forward | 14 | 87,719 | 4,971 | 92,691 |
| ────────── | ────────── | ────────── |
All income and expenditure derive from continuing activities.
The statement is a combined Statement of Financial Activities and Income and Expenditure Account for the purposes of meeting both companies act and charity SORP reporting requirements.
7
Hopespring
Year Ended 31st August 2020
Statement of Financial Position
| 2020 | ||
|---|---|---|
| Note | £ | |
| Fixed assets | ||
| Tangible Assets | 10 | 31,213 |
| Current assets | ||
| Debtors | 11 | 4,224 |
| Cash at bank and in hand | 175,693 | |
| ────────── | ||
| 179,917 | ||
| Creditors: amounts falling due within one year | 12 | 65,975 |
| ────────── | ||
| Net current assets | 113,942 | |
| ────────── | ||
| Creditors: amounts falling due after one year | 13 | 52,464 |
| ────────── | ||
| Total assets less current liabilities | 92,691 | |
| ────────── | ||
| Net assets | 15 | 92,691 |
| ────────── | ||
| Funds of the charity | ||
| Restricted funds | 14 | 4,971 |
| Unrestricted funds | 87,719 | |
| ────────── | ||
| Total charity funds | 92,691 ────────── |
Directors Responsibilities
These financial statements were approved by the board of trustees and authorised for issue :
Lois Gott Name of Trustee: ─────────────────────────────────────────────────── Signed on behalf of the Trustees: ─────────────────────────────────────────────────── 08/12/2020 Date of approval:
───────────────────────────────────────────────────
8
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
1 Accounting Policies
Basis of Preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities Financial Reporting Standards applicable in the UK and Republic of Ireland (Charities SORP 2019 FRS 102) and the Charities Act 2011.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Fund Accounting
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.
• All voluntary income from supporters are recognised as donations and are included in full, with associated Gift Aid receivable in the Statement of Financial Activities.
• Grants where entitlement is not conditional on the delivery of specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
• Income resources from charitable trading activities such as the letting of the building are accounted for when invoices are drawn up (as the point of entitlement).
• Donated services and facilities are included at the value to the charity where this can be quantified and the donation is material to the accounts.
• Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
• Volunteer time, the value of voluntary support for the work of the charity is not included in the accounts but is described in the accounts.
• Investment Income is included in the accounts when receivable.
9
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
Liability Recognition
Abilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Tangible fixed assets
All assets costing more than £500 are capitalised and at historic cost. Fixed assets are stated at cost less accumulated depreciation. Depreciation is charged on furniture and equipment which is written off on a straight-line basis over time, estimated useful live of the asset.
| Equipment | 4 years straight line |
|---|---|
| Fixtures and Fittings | 4 years straight line |
| Leasehold Improvements | 15 years straight line |
Pensions
The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
Operating Leases
Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.
Taxation
The charity is exempt from tax on its charitable activities.
Period Of Accounts
The accounts cover at 15 month period from the 7th of June 2019 through to the 31st of August 2020. Hopespring started operating from the 1st of September 2019.
10
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
2 Analysis of Income
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations and legacies | |||
| Donations | 26,805 | 34,827 | 61,632 |
| Gift Aid | 3,322 | - | 3,322 |
| Donated Goods and Services | - | - | - |
| Grants | 11,500 | 25,955 | 37,455 |
| ────────── | ────────── | ────────── | |
| 41,627 | 60,782 | 102,409 | |
| Charitable activities | |||
| Placement and Referral Income | 313,770 | - | 313,770 |
| Housing Benefit Income | - | 3,948 | 3,948 |
| ────────── | ────────── | ────────── | |
| 313,770 | 3,948 | 317,718 | |
| Activities for generating income | |||
| Online Sales | 65 | - | 65 |
| ────────── | ────────── | ────────── | |
| 65 | - | 65 | |
| Investment Income | |||
| Bank Interest | 25 | - | 25 |
| ────────── | ────────── | ────────── | |
| 25 | - | 25 | |
| Transfer of charitable activities | |||
| Mother and Baby Home Activity Transfer | - | 15,500 | 15,500 |
| ────────── | ────────── | ────────── | |
| - | 15,500 | 15,500 | |
| Other Income | |||
| Volunteer Rental Income | 19,323 | - | 19,323 |
| ────────── | ────────── | ────────── | |
| 19,323 | - | 19,323 | |
| ────────── | ────────── | ────────── | |
| Total Income | 374,810 ────────── |
80,231 ────────── |
455,041 ────────── |
Government Grants
During the year Hopespring received government grants through the Covid-19 job retention scheme. The total amount received during the year was £4,805.21.
11
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
Transfer of charitable activities
On the 1st of November 2020 the Mother and Baby Home charitable activity and fund balance transferred from Bethshan (North East) Charity number 1120015.
3 Donated goods, facilities and services
During the year Hopespring received 80kg of food per week from Fareshare to pass on and give to care experienced young people. Due to the quantity and nature of the goods no reliable estimate has been placed on the donation.
4 Expenditure on charitable activities by expenditure type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Administration and Communication | 414 | - | 414 |
| Building and Premises | 84,301 | 18,092 | 102,393 |
| Depreciation | 5,489 | 1,357 | 6,846 |
| Direct Activity Costs | 32,060 | 4,856 | 36,917 |
| IT and Computer | 4,100 | - | 4,100 |
| Professional, Legal and Governance | 33,999 | - | 33,999 |
| Salary and Staff Related Costs | 125,320 | 50,954 | 176,275 |
| ────────── | ────────── | ────────── | |
| 285,684 | 75,259 | 360,943 | |
| ────────── | ────────── | ────────── |
5 Expenditure on trading activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Hopespring Merchandise and Shop | 1,407 | - | 1,407 |
| ────────── | ────────── | ────────── | |
| 1,407 ────────── |
- ────────── |
1,407 ────────── |
6 Volunteers
The charity benefits greatly from voluntary contributions of time and money. It is estimated that the charity benefited from over 10,000 voluntary hours. The main bulk of this time is contributed from 7 full time volunteers. These volunteers give time towards areas such as but not exclusively fundraising, the running of Hopespring activities and administration. Due to the significant part that volunteers play to the running of the charity and its activities, Hopespring provide rental accommodation for certain volunteers.
12
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
7 Independent examination fees
Fees payable to the independent examiner for:
| 2020 | |
|---|---|
| £ | |
| Independent examination and preparation of the financial | 1,680 |
| Payroll, bookkeeping and reporting services | 1,884 |
| ────────── | |
| 3,564 ────────── |
8 Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2020 | |
|---|---|
| £ | |
| Wages and salaries | 131,872 |
| Social security costs | 5,978 |
| Employer contributions to pension plans | 9,094 |
| ────────── | |
| 146,944 | |
| ────────── |
As part of the transition arrangements of charitable activities moving from Bethshan (North East), it was agreed that Hopespring would cover the staff costs for the few months where the different charitable activities had transferred but the employment of staff had not. The total salary and employment costs recharged to Hopespring during this transition arrangement amounted to £13,601.
The average head count of employees during the year was as follows:
| 2020 | |
|---|---|
| Average Head Count | 7 |
No employee received employee benefits of more than £60,000 during the year was as follows:
| 2020 | |
|---|---|
| More than £60,000 | 0 |
Key Management Personnel
The charity considers its key management personnel to be the Strategic Manager, Social Care Manager, Executive Headteacher and Operations Manager. The total employee benefits received by key management were as follows:
| 2020 | |
|---|---|
| £ | |
| Key management personnel employee benefit | 82,177 |
13
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
9 Trustee remuneration and expenses
The trustees did not receive any remuneration for their service as trustees. The charity did however use consultancy services from one trustee through their management consultancy business. Lois Gott is one of the director's of Revive Consultancy Limited (Company 08162406) who received payments for the consultancy work provided. The total consultancy fee's paid during the year was £21,710. The payments were made on the legal grounds that the charity constitution allows remuneration to trustees for providing services to the charity outside of the trustee's role. The consultancy service's were authorised by the other acting trustee's at that time.
None of the trustee's incurred out of pocket expenses during the year.
10 Fixed Assets
| Fixtures and | Leasehold | |||
|---|---|---|---|---|
| Equipment | Fittings | Improvements | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 7 June 2019 | - | - | - | - |
| Additions | 18,540 | 4,919 | 14,600 | 38,059 |
| ────────── | ────────── | ────────── | ────────── | |
| At 31st August 2020 | 18,540 | 4,919 | 14,600 | 38,059 |
| ────────── | ────────── | ────────── | ────────── | |
| Depreciation | ||||
| At 7 June 2019 | - | - | - | - |
| Charge for the year | 3,405 | 1,032 | 2,409 | 6,846 |
| ────────── | ────────── | ────────── | ────────── | |
| At 31st August 2020 | 3,405 | 1,032 | 2,409 | 6,846 |
| ────────── | ────────── | ────────── | ────────── | |
| Carrying Amount | ||||
| At 31st August 2020 | 15,136 | 3,887 | 12,191 | 31,213 |
| ────────── | ────────── | ────────── | ────────── |
11 Debtors
| 2020 | |
|---|---|
| £ | |
| Trade Debtors | 1,279 |
| Accrued Income | 2,945 |
| ────────── | |
| 4,224 ────────── |
14
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
12 Creditors: amounts falling due within one year
| 2020 | |
|---|---|
| £ | |
| Accruals | 2,749 |
| Deferred Income | 50,540 |
| Trade Creditors | 2,828 |
| Loans | 9,857 |
| ────────── | |
| 65,975 | |
| ────────── |
Deferred Income Movement
| Deferred Income Movement | ||||||
|---|---|---|---|---|---|---|
| Opening | Deferred | Released | Closing | |||
| £ | £ | £ | £ | |||
| Placement and Referral Income | - | 50,540 | - | 50,540 |
At the year end invoices had been raised for school places relating to the 2020/21 year. This income has been deferred as the entitlement to the income had not yet passed as the service of educational provision had not been carried out at the point of the year end.
13 Creditors: amounts falling due after one year
Loans
2020 £ 52,464 ────────── 52,464
──────────
15
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
14 Analysis of Charitable Funds
| 1 Sep | 2019 | Income | Expenditure | 31 Aug 2020 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Unrestricted Funds | |||||
| General Fund | - | 374,810 | (287,091) | 87,719 | |
| ────────── | ────────── | ────────── | ────────── | ||
| Total | - | 374,810 | (287,091) | 87,719 | |
| ────────── | ────────── | ────────── | ────────── | ||
| Restricted Funds | |||||
| Covid-19 Job Retention Scheme | - | 4,805 | (4,805) | - | |
| Mother and Baby Home | - | 20,948 | (20,948) | - | |
| Children's Home | - | 2,450 | - | 2,450 | |
| Sunderland School | - | 28,150 | (28,150) | - | |
| Newcastle School | - | 16,499 | (16,499) | - | |
| Christmas Appeal | - | 6,818 | (4,296) | 2,521 | |
| Covid-19 Support | - | 500 | (500) | - | |
| Care experienced support | - | 60 | (60) | - | |
| ────────── | ────────── | ────────── | ────────── | ||
| Total | - | 80,231 | (75,259) | 4,971 | |
| ────────── | ────────── | ────────── | ────────── | ||
| ────────── | ────────── | ────────── | ────────── | ||
| Total Funds | - | 455,041 | (362,350) | 92,691 | |
| ────────── | ────────── | ────────── | ────────── |
Covid-19 Job Retention Scheme
Funding received from the UK Government as part of the Covid-19 economic support package. The grants received are only to be used to pay the salaries of those employees whom have been furloughed during the pandemic.
Mother and Baby Home
The transfer of the closing funds balance from Bethshan (North East) as part of the transfer for charitable activities when the Mother and Baby Home transferred to Hopespring. At the point of the transfer the funds were restricted the Mother and Baby Home activities.
Grants income for the day to day running of the home.
Housing benefit support payments paid directly to the charity relating to the benefit entitlement of the service users.
| £ | |
|---|---|
| Bethshan (North East) | 15,500 |
| The William Leech Trust | 1,500 |
| Housing Benefit | 3,948 |
| ────────── | |
| 20,948 |
16
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
Children's Home
Funds and donations received and restricted for the set up and running of a Children's Home based in Sunderland.
Sunderland School
Funds and donations received and restricted for the set up and running of a Therapeutic School based in Sunderland.
Grants and Donations received and fully spent during the year include:
£ KeyFund 2,750 Siobhan Dowd Trust 400 The Ballinger Trust 15,000 Sunderland Mayoral Foundation Donation 10,000 ────────── 28,150
Newcastle School
Funds and donations received and restricted for the running of a Therapeutic School based in Newcastle.
Grants and Donations received and fully spent during the year include:
£ Voluntary donations from supporters 16,499
Christmas Appeal
Funds and donations received and restricted from the 2019 Christmas Appeal to raise money for Christmas gifts for the cared for children in and luxury Christmas hampers for care experienced young people in Sunderland.
Covid-19 Support
Funds and donations received and restricted for the provision of food for those in need during the Covid19 pandemic.
Care Leavers
Funds and donations received and restricted for the provision of food and gift hampers for care experienced young people transitioning to independent living.
17
Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
15 Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Fixed Assets | 31,213 | - | 31,213 |
| Current Assets | 174,945 | 4,971 | 179,917 |
| Creditors less than 1 year | (65,975) | - | (65,975) |
| Creditors greater than 1 year | (52,464) | (52,464) | |
| ────────── | ────────── | ────────── | |
| 87,719 ────────── |
4,971 ────────── |
92,691 ────────── |
16 Events after the Reporting Period
After the year end a non-adjusting post balance sheet event took place. At the very end of October 2020 the UK Government announced a further lockdown in England that was expected to last until the start of December 2020 but could be extended further. This event has not materially and directly effected the day to day running of the Charity's activities. However it is expected that the national lockdown will effect the fundraising activities that would normally take place over the Christmas period.
17 Related party transactions
During the year there have been a number of related party transactions.
The related parties are as follows:
Bethshan (North East)
Trustee Joanne Dunnett's spouse, Tim Dunnett is the chair of Trustee's for Bethshan (North East). As part of the transfer of charitable activities from Bethshan (North East) to Hopespring the following transactions took place during the year:
| 2020 | |
|---|---|
| £ | |
| Income | 16,500 |
| Expenditure | 44,635 |
18 Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
| 2020 | |
|---|---|
| £ | |
| No later than 1 year | 89,938 |
| Later than 1 year but less than 5 years | 466,976 |
| ────────── | |
| 556,914 ────────── |
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Hopespring
Year Ended 31st August 2020
Notes to the Financial Statements
19 Transfer of charitable activities
Prior to the legal formation of Hopespring as a charitable incorporated organisation (CIO), Hopespring operated operated as a department under the legal and governance structure of Bethshan (North East) charity number 1120015.
Between September and December 2020 the charitable activities which had historically being operating within Bethshan (North East) were transferred into Hopespring.
As part of the transfer arrangement Hopespring repaid a loan which had been taken out by Bethshan (North East) to fund the activities of the Newcastle School. Hopespring paid £16,736 to Bethshan (North East) in order to settle the outstanding loan.
This payment is included within charitable activities expenditure on the Statement of Financial Activity.
19