Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
Charity number: 1187057
THE SIMON HOPE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
Trustees R Malone, Trustee S Hope, Chair M Hope, Trustee
Charity registered number 1187057 Principal office Aston Mullins Chapel Road Ford Aylesbury Bucks HP17 8XG Accountants Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Herts WD17 1HP
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the The Simon Hope Trust for the 1 April 2024 to 31 March 2025.
Objectives and activities
a. Policies and objectives
The Objects of the charity are such exclusively charitable purposes for the benefit of the public as the Trustees from time to time may determine with a particular focus upon (but without limitation to) the advancement of the education for the benefit of children and young people and (save for purposes incidental and ancillary to those objects) no other purposes.
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. Strategies for achieving objectives
During the reporting period the charity had been looking to identify a property through which it can invest and generate income to provide ongoing bursaries to a particular school of the trustee’s choice. A suitable property was identified and purchased.
Achievements and performance
a. Main achievements of the Charity
Identifying and purchasing a property through which it can invest and generate income.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the Trustees' policy to aim to create reserves above three months running costs. The level of reserves is monitored and reviewed annually by the Trustees.
Structure, governance and management
a. Constitution
The Simon Hope Trust is a registered charity, number 1187057, and is constituted under a CIO Foundation. The Final Constitution of The Simon Hope Trust governs how the charity operates and the functions and duties of the Charity Trustees.
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management (continued)
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 CIO Foundation.
Appointment of Charity Trustees:
-
Charity trustees shall be appointed by the charity founder, unless the charity founder delegates the power of appointment to the charity trustees.
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Apart from the first charity trustees, every appointed trustee may be appointed indefinitely by the charity founder or, where such power is delegated to the charity trustees, by a resolution passed at a properly convened meeting of the charity trustees.
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In selecting individuals for appointment as appointed charity trustees, the charity founder and the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
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Charity trustees may be reappointed by the charity founder, or where such power is delegated to the charity trustees, by way of a resolution passed at a properly convened meeting of the charity trustees.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the CIO Foundation. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
S Hope Trustee Date: 12-12-2025
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ - - 24,500 24,500 26,758 26,758 (2,258) 1,080,695 (2,258) 1,078,437 |
Total funds 2025 £ - - 24,500 24,500 26,758 26,758 (2,258) 1,080,695 (2,258) 1,078,437 |
Total funds 2024 £ 209,990 2 1,647 |
|---|---|---|---|
| 211,639 | |||
| 56,191 | |||
| 56,191 | |||
| 155,448 | |||
| 925,247 155,448 |
|||
| 1,080,695 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 13 form part of these financial statements.
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
BALANCE SHEET AS AT 31 MARCH 2025
| Note Investment property 10 Current assets Debtors 11 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
- 800,975 800,975 (24,070) |
2025 £ 301,532 301,532 776,905 1,078,437 1,078,437 - 1,078,437 1,078,437 |
1,830 810,565 812,395 (33,232) |
2024 £ 301,532 |
|---|---|---|---|---|
| 301,532 779,163 |
||||
| 1,080,695 | ||||
| 1,080,695 | ||||
| - 1,080,695 |
||||
| 1,080,695 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
S Hope Trustee Date: 12-12-2025
The notes on pages 7 to 13 form part of these financial statements.
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. General information
The charity is a Charitable Incorporated Organisation. The members of the charity are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the CIO.
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 Simon Hope Trust 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.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.3 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
2.4 Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.6 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.
2.7 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.
2.8 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.
2.9 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.
Investment income, gains and losses are allocated to the appropriate fund.
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. Income from donations and legacies
| Unrestricted funds 2025 £ Donations - 4. Income from charitable activities Unrestricted funds 2025 £ Income from charitable activities - 5. Investment income Unrestricted funds 2025 £ Investment income - local investment properties 24,500 6. Analysis of grants Grants to Institutions 2025 £ Grants, Direct costs 19,852 |
Total funds 2025 £ - Total funds 2025 £ - Total funds 2025 £ 24,500 Total funds 2025 £ 19,852 |
Total funds 2024 £ 209,990 |
|---|---|---|
| Total funds 2024 £ 2 |
||
| Total funds 2024 £ 1,647 |
||
| Total funds 2024 £ 36,438 |
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted | |||
|---|---|---|---|
| funds | Total | Total | |
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Direct costs | 26,758 | 26,758 | 56,191 |
8. Analysis of expenditure by activities
| Direct costs Total 2024 |
Grant funding of activities 2025 £ 19,852 36,438 |
Support costs 2025 £ 6,906 19,753 |
Total funds 2025 £ 26,758 56,191 |
Total funds 2024 £ 56,191 |
|---|---|---|---|---|
9. Trustees' remuneration and expenses & related party transactions
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .
The donations income of £nil (2024 - £209,990) relates to donations made by S Hope, a Trustee of the Charity.
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. Investment property
| Valuation At 1 April 2024 At 31 March 2025 |
Freehold investment property £ 301,532 |
|---|---|
| 301,532 |
The investment represents a property at 52-54 High Street, Hucknall, Nottingham which at 31 March 2025 has not been formally valued. The property was initially recognised at cost. The 2025 valuation was undertaken by the trustees, at open market value and the trustees are satisfied that the current open market value is not materially different from the value included within the financial statements. No restrictions have been placed on any income related to the investment property.
The historical cost of the investment is £301,532.
11. Debtors
| Due within one year Tax recoverable |
2025 £ - - |
2024 £ 1,830 |
|---|---|---|
| 1,830 |
12. Creditors: Amounts falling due within one year
| Bank overdrafts Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2025 £ 101 - 900 21,794 1,275 24,070 |
2024 £ - 9,471 - 21,686 2,075 |
|---|---|---|
| 33,232 |
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. Statement of funds
Statement of funds - current year
| Balance at 1 April 2024 £ Unrestricted funds General Funds - all funds 1,080,695 Statement of funds - prior year Balance at 1 April 2023 £ Unrestricted funds General Funds - all funds 925,247 |
Income £ 24,500 Income £ 211,639 |
Expenditure £ (26,758) Expenditure £ (56,191) |
Balance at 31 March 2025 £ 1,078,437 |
|---|---|---|---|
| Balance at 31 March 2024 £ 1,080,695 |
14. Summary of funds
Summary of funds - current year
| Balance at 1 April 2024 £ General funds 1,080,695 Summary of funds - prior year Balance at 1 April 2023 £ General funds 925,247 |
Income £ 24,500 Income £ 211,639 |
Expenditure £ (26,758) Expenditure £ (56,191) |
Balance at 31 March 2025 £ 1,078,437 |
|---|---|---|---|
| Balance at 31 March 2024 £ 1,080,695 |
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Docusign Envelope ID: 06730AC0-BAFC-4C51-8304-0F2C0F2EB55A
THE SIMON HOPE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2025 £ Investment property 301,532 Current assets 800,975 Creditors due within one year (24,070) Total 1,078,437 |
Total funds 2025 £ 301,532 800,975 (24,070) 1,078,437 |
|---|---|
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