OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

Hope Street Wrexham

Report and Accounts Year ended 31st December 2023

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

HOPE STREET WREXHAM

CHARITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees Lydia Boyd (appointed 30 March 2023)
David Cooke
Robin Elson-Dew (resigned 26 March 2023, reappointed 18 July 2024)
Paul Freeland
Andrew Kitchen
Rachel Kitchen
Hayley Matthews (appointed 1st March 2023)
Diane McCarthy (resigned 19 January 2023)
Kim Vaudrey (appointed 30 March 2023)
Jane Williams (appointed 31 July 2024)
Key Staff Andrew Kitchen
Rachel Kitchen
Hugh Richardson
Adrian Peters
Governing Document CIO registered February 2020, amended July 2020
Charity Registration Number 1187815
Principal Address St Asaph Diocesan Office
High Street
St Asaph
LL17 0RD
Independent Examiner Sarah Crispin ACA
Stewardship
1 Lamb's Passage
London
EC1Y 8AB
Bankers Barclays Bank UK PLC
Reliance Bank Limited
Contents Page
Charity Information 1
Trustees' Annual Report 2-5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9-16
Detailed Statement of Financial Activities with Comparatives 17

Page 1

HOPE STREET WREXHAM

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The Board of Trustees present their annual report for Hope Street Wrexham for the period ending 31 December 2023.

Structure, Governance and Management

Governing Documents

The organisation is a Charitable Incorporated Organisation, registered with the Charity Commission on 7th February 2020. Hope Street Wrexham was established under a constitution document, constituted on 20th December 2019 and as amended on 7th July 2020.

Structure

The members of the CIO are charity trustees for the purpose of charity law. The Board of Trustees is responsible for the governance and management of the church. The responsibility for leadership of the church’s activities, development of its spiritual life and its daily management has been delegated to the Senior Leaders who are supported in that role by the staff team including clergy. The Board of Trustees retains final decisions over policy, employment of staff and finance, and takes responsibility for all matters of legal and regulatory compliance.

Trustees give their time voluntarily and receive no financial benefit from the charity. Trustees are appointed by trustee members and can be appointed by ordinary resolution at a general meeting of members.

Decision Making

Financial and strategic decisions over £10,000 are taken by the entire Board of Trustees. The organisational implementation of the strategy is carried out by senior leadership. The Revds Andrew Kitchen and Rachel Kitchen fulfil the key day to day senior management role. The salary of the key management role is paid by the Diocese in accordance with the agreed salary structure of ordained personnel in the Church in Wales.

Training

All staff, volunteers and trustees undergo a formal recruitment and selection process, followed by an induction period that includes any training considered necessary to effectively perform their role. Senior Leadership of the church consists of clergy, whose pay is set via stipend, the level of which is set by the Diocese.

Volunteers

The church benefits from the dedicated work of a great number of volunteers. The economic contribution of general volunteers is not recognised in the accounts.

Objectives and Activities

Hope Street Wrexham, acting under the name of Hope Street Church, is an Anglican church, led by Revd Andrew Kitchen and Revd Rachel Kitchen, who have been commissioned by the Bishop of St Asaph to plant a resource church in Wrexham.

Our objectives are set out in our governing document, the Constitution, which was agreed by the Board of Trustees in December 2019 and amended in July 2020.

Page 2

HOPE STREET WREXHAM

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Our objectives:

The charity’s objectives are the advancement of the Christian religion principally:

The Board of Trustees is committed to the vision of the church to play our part in the reevangelisation of the nation, the revitalisation of the church and the transformation of society by being ‘a people of hope, following Jesus, giving ourselves away to see Wrexham renewed.’ In accordance with the vision statement, the church aims to meet its objectives through the provision of church services, courses and planting churches. Given the diversity of the church’s activities, performance is measured on a case-by-case basis.

Public Benefit

In accordance with our duties as stated in section 17(5) of the Charities Act, we have considered the guidance provided by the Charity Commission regarding public benefit. This public benefit has been demonstrated by the activities undertaken since inception of the charity outlined in this document.

Achievements and Performance

Since the charity was formed all decisions made and the structure put in place will help us deliver our vision as stated above.

2023 was a strong year of continued growth for the charity and its activities.

Highlights of this reporting period include:

Sunday Services - After strong growth in attendance in 2022, growth continued in 2023, to an average Sunday attendance in the final part of the year of 189 adults and 33 under-18s. 297 attended our annual carol services on 10th December. Sunday services comprise a congregation is diverse in age, social-economic background and ethnicity. There is wide involvement in volunteering on the teams that go in to making Sunday Services happen with over 150 church members engaged in some kind of service.

Tabernacl – Key to the facility at 1 Hope Street being present to the community of Wrexham is a cafe in the ground floor space, providing a point of welcome to all people, irrespective of their background of beliefs, and a point from which other activities of the church, including Alpha, Sundays, Bouncing Beans and the Prayer Room can be signposted. The Tabernacl cafe had a solid year of growth in 2023, featuring in the Wales Independent Coffee guide and proving a point of connection to the charity and its activities.

Courses:

Alpha - Alpha is an 11-week course that provides a relaxed environment for people to discuss the big questions of life, faith and meaning. The number of guests and volunteers involved in Alpha increased in 2023, with 121 coming across 3 courses.

The Marriage course, a 7 seven session course designed for couples to invest in the health of their marriage was run from the building in 2023, with 13 couples participating. Whilst the films are rooted in the experiences of Christian couples, the course prides itself on teaching universal principles relevant to any couple, whatever their faith background.

Bridge the Gap Wrexham - partnering with Bridge the Gap, a national charity by the same name, and the Church Army, a team from Hope Street have continued to develop a weekly football project, seeking to bridge the gap between young men and church, and build community through football. Over 60 men from a variety of backgrounds, including those seeking asylum, builders, students, and police/border force regularly connect with this project.

Page 3

HOPE STREET WREXHAM

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Warm Space - Started in December 2022, in response to the rise in energy prices, a team of 9

Love Christmas - Over the Christmas period over 2,600 ‘bags of kindness’ were delivered to those

Tables - these midweek groups, taking place initially on Zoom but moving to in-person later in 2021 have been a place of belonging and community. A total of 11 groups ran in 2023.

Hangouts – A number of hangout events, a key means of connecting with new people, continued in 2023, including the annual Bonfire party at a local farm attended by over 200 people.

Children and young people

The area of children and families continued to grow in 2023. On Sundays the number of different age groups has multiplied to 3, reflecting the growing numbers of children engaging with the church’s activities. Targeted support to children with additional needs has been added on a Sunday.

Bouncing Beans, a group for parents and tots continued function as a vital point of contact for parents/carers of babies/toddlers and their children, with regularly 30+ families attending each week.

College Cafe - in partnership with the Chaplaincy at Coleg Cambria Hope Street continued this initiative, opening the building on a Thursday lunchtime as a place for students at the Yale Campus to come and congregate over table tennis, and Nintendo Switch and build relationships with the youth and student team.

Hope Street Collective, a community for students and 20s was started this year, providing a place of belonging, support and connection.

Volunteers

Intrinsic to the realisation of the vision of Hope Street is the mobilising of the congregation in volunteering activities.. This includes Sunday services, worship, kids and youth teams, as well as midweek courses, groups and social action activities.

Key Risks and Uncertainties

The key risks and uncertainties that the trustees foresee at this stage are the retention and recruitment of key staff that have experience of the ethos of a resourcing church. Barriers to church planting elsewhere in the Diocese have been a challenge in 2023, as well as delays within and questions about the suitability of the training pathways of future clergy. Continued recruitment of talented clergy will be required in order to deliver on the vision of resourcing church planting.

Page 4

HOPE STREET WREXHAM

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Financial Review

In the period ended 31/12/2023 the total income of the Charity came to £423,701 of which £5,978 was restricted. The principal funding sources of the charity are the Evangelism Fund [EF] grants totalling £232,321 and giving from the congregation totalling £133,170 including gift aid.

Expenditure totalled £307,769 of which £7,799 was restricted. Funds carried forward totalled £224,943 of which £28,173 was restricted.

The details behind these figures are shown in the attached financial statements.

Financial viability

Please note the above risks and uncertainties. The trustees are confident that with the guaranteed income stream from the EF grants and ongoing support of the congregation, and appropriate management of expenditure, the church is a going concern and will continue to be financially viable. The budgets for 2024 have been be prepared in line with the financial considerations of circumstances at the end of 2023 and trustees are confident they will be able to prepare a balanced budget given the continued support of the congregation and EF funding.

Reserves Policy

The Board of Trustees are aware of the need to maintain sufficient reserves. The Trustees have determined that the charity should aim to hold unrestricted cash of no less than £75,000 (which equates to about 3 months of unrestricted expenditure on basic operational commitments) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted net current assets of £166,886. Thus, the charity is complying with its reserves policy.

Safeguarding

The Board of Trustees have adopted the Diocese of St Asaph’s safeguarding policy relating to children, young people and vulnerable adults. In 2023 Mr Adrian Peters was appointed Safeguarding Lead, with Ms Sara Edwards has been appointed safeguarding officer. The safeguarding officer and all relevant staff have completed the necessary diocese training in safeguarding young people and vulnerable adults.

The Board of Trustees responsibilities in relation to the Financial Statements

Now that the charities income has surpassed £250,000, the Charities Statement of Recommended Practice (SORP) requires us as Trustees to prepare financial statements on an accruals basis.

We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

Approval

This report was approved by the trustees and signed on their behalf by:

A Kitchen

_______ A Kitchen (Oct 25, 2024 20:21 GMT+1) Rev'd Andrew Kitchen Oct 25, 2024 Date: _______

Page 5

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

HOPE STREET WREXHAM ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2023 on pages 7 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 9 to 10.

Responsibilities and basis of report

As the charity’s trustees of the Charitable Incorporated Organisation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 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

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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.

Sarah Crispin

Sarah Crispin (Oct 29, 2024 09:32 GMT)

Sarah Crispin ACA Institute of Chartered Accountants in England and Wales Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: Oct 29, 2024

Page 6

HOPE STREET WREXHAM

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations
3
Charitable activities
4
Total income and endowments
EXPENDITURE ON:
Charitable activities
5
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13		 Unrestricted
Funds
£
364,774
52,950
417,724
299,970
299,970
-
117,754
-
117,754
79,017
196,770		 Restricted
Funds
£
5,978
-
5,978
7,799
7,799
-
(1,821)
-
(1,821)
29,994
28,173		 Total
Total
Funds
Funds
2023
2022
£
£
370,751
183,111
52,950
30,027
423,701
213,139
307,769
241,435
307,769
241,435
-
-
115,932
(28,296)
-
-
115,932
(28,296)
109,010
137,306
224,943
109,010

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 9-16 form part of these accounts.

Page 7

HOPE STREET WREXHAM

BALANCE SHEET

AS AT 31 DECEMBER 2023

Note
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Stock
8
Debtors
9
Cash at bank and in hand
10
CREDITORS: Amounts falling
due within one year
11
Net current assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
13
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
29,885
29,885
615
7,207
169,962
177,784
(10,898)
166,886
196,770
80,695
116,075
196,770
-
196,770		 Restricted
Funds
£
-
-
-
-
28,173
28,173
-
28,173
28,173
-
-
-
28,173
28,173		 Total
Funds
2023
£
29,885
29,885
615
7,207
198,134
205,956
(10,898)
195,058
224,943
80,695
116,075
196,770
28,173
224,943		 Total
Funds
2022
£
41,529
41,529
-
3,583
78,897
82,480
(14,999)
67,481
109,011
61,646
17,371
79,017
29,994
109,011

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

A Kitchen

A Kitchen (Oct 25, 2024 20:21 GMT+1) Rev'd Andrew Kitchen

Oct 25, 2024 Date: _______

Charity number: 1187815

The notes on page 9-16 form part of these accounts.

Page 8

HOPE STREET WREXHAM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Statutory Information

The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The previous year's accounts were prepared using the receipts and payments basis but, this year, the charity was obliged to prepare its accounts using the accruals basis. The results for 2022, which are comparatives quoted in these accounts, have been restated using the accruals basis (see note 18 for details).

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects.

Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity. It includes income from the Tabernacl café.

Investment income represents income generated by the charity's assets and includes income from letting the charity's property and bank interest.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Page 9

HOPE STREET WREXHAM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Equipment Over 4 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Stocks

Stocks of goods purchased for re-sale are stated at the lower of cost and net realisable value. Stocks of donated items held for distribution to beneficiaries are measured at fair value; stocks of goods donated for the charity's own use are valued at an estimate of their value to the charity.

g) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

h) Taxation The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

i) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

j) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations

ations
Donations of cash and similar
Grants receivable
Income tax recoverable		 2023
£
116,886
237,581
16,284
370,751		 2022
£
74,120
96,329
12,663
183,111

Page 10

HOPE STREET WREXHAM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Income from charitable activities

Courses and events
Letting of facilities
Café
5
Charitable expenditure
a
Costs incurred directly on specific activities
Ministry, services and outreach
Salaries and pension
Staff expenses and training
Hope Steet café costs
Equipment and technology
Telephone and Utilities
Building costs
Repairs and maintenance
Administration and support
Other costs
Grants payable (note 5c)
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other
Bank charges
Depreciation of tangible fixed assets
Insurance
Total expenditure		 2023
£
7,471
516
44,963
52,950
2023
£
52,282
159,517
6,734
26,628
4,158
14,634
-
5,891
2,980
2,786
6,995
282,603
3,480
1,187
4,667
1,155
18,456
888
25,166
307,769		 2022
£
8,419
112
21,496
30,027
2022
£
41,109
106,879
10,663
11,668
15,159
8,058
19,904
473
1,396
4,031
3,019
222,357
1,485
630
2,115
992
15,249
721
19,078
241,435

The fee payable to the independent examiner for preparing and examining the accounts was £3,480 (2022: £1.485); in addition the charity paid £200 (2022: £150) to Stewardship for consultancy services.

Page 11

HOPE STREET WREXHAM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

c Grants payable

Grants for UK and overseas mission
Grants for the relief of poverty
Grants for education, including ministry training
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
Grants for education, including ministry training
The charity's principal grants to institutions comprised:
Tearfund
Open Doors
Teams4U
Grants to institutions for less than £1,000 each		 Institutions
£
2,165
4,330
500
6,995
Institutions
£
-
2,776
-
2,776		 Individuals
£
-
-
-
-
Individuals
£
243
-
-
243
2023
£
1,000
2,125
2,000
1,870
6,995		 2023
£
2,165
4,330
500
6,995
2022
£
243
2,776
-
3,019
2022
£
-
-
2,776
-
2,776

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration

The average monthly number of employees during the year was 10 (2022: 9). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Charity Information page. During the year, there were employment benefitsof £8,376 (2022: nil) paid to key management.

7 Tangible fixed assets

Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Accumulated depreciation
At 1 January 2023
Charge for the year
Eliminated on disposal
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
8
Stock
Stock purchased, at cost		 Fixtures,
fittings and
equipment
£
68,317
6,812
-
75,129
26,788
18,456
45,244
29,885
41,529
2023
£
615
615		 Total
2023
£
68,317
6,812
-
75,129
26,788
18,456
-
45,244
29,885
41,529
2022
£
-
-

Page 12

HOPE STREET WREXHAM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

9 Debtors

ors
Falling due within one year:
Trade debtors
Tax recoverable
Other debtors
h at Bank and in Hand
Cash at bank with immediate access
Petty cash
itors: liabilities falling due within one year
Trade creditors
Other creditors
Accruals		 2023
£
1,226
2,617
3,365
7,207
2023
£
196,284
1,850
198,134
2023
£
3,412
4,007
3,480
10,898		 2022
£
170
3,413
-
3,583
2022
£
78,681
216
78,897
2022
£
983
12,531
1,485
14,999

10 Cash at Bank and in Hand

11 Creditors: liabilities falling due within one year

12 Pension commitments

During the year employer’s pension contributions totalling £12,691 (2022: £8,757) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2022: £979).

13 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Furniture & fittings
EF operational
Café
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
CRT grant
Building refurbishment
Love Christmas
Other restricted funds
Aggregate of funds		 Opening
balance
2023
£
12,426
-
4,945
17,371
61,646
79,017
7,315
13,444
7,277
1,957
29,994
109,011		 Incoming
resources
2023
£
-
232,231
44,963
277,194
140,529
417,724
-
-
5,350
628
5,978
423,701		 Outgoing
resources
2023
£
-
(150,137)
(26,628)
(176,765)
(123,205)
(299,970)
-
-
(6,651)
(1,148)
(7,799)
(307,769)		 Transfers
in the year
2023
£
(1,725)
-
-
(1,725)
1,725
-
-
-
-
-
-		 Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2023
£
10,701
82,094
23,280
116,075
80,695
196,770
7,315
13,444
5,976
1,437
28,173
224,943

The transfers referred to above were made for the following reasons:

a) the transfer from furniture & fittings to general unrestricted is to account for fixed asset addition within the year.

Page 13

HOPE STREET WREXHAM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year
In the previous year the movements in the
Designated Funds
Furniture & fittings
EF operational
Café
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
CRT grant
Building refurbishment
Love Christmas
Other restricted funds
Aggregate of funds		 charity's funds
Opening
balance
2022
£
12,426
-
-
12,426
62,471
74,897
41,948
17,588
-
2,874
62,409
137,306		 General
Designated
funds
funds
£
£
29,885
615
7,207
53,886
116,075
(10,898)
80,695
116,075
were as follows:
Incoming
Outgoing
Transfers
resources
resources
in the year
2022
2022
2022
£
£
£
-
-
-
94,079
(127,264)
33,185
21,327
(10,668)
(5,714)
115,406
(137,933)
27,471
92,260
(51,613)
(41,471)
207,665
(189,546)
(13,999)
-
(34,633)
-
255
(4,398)
-
3,639
(8,760)
12,398
1,579
(4,097)
1,601
5,473
(51,888)
13,999
213,138
(241,434)
-
Unrestricted Funds		 Restricted
funds
£
28,173
28,173
Gains and
losses
2022
£
-
-
-
-
-
-
-
-
-
-
-		 2023
£
29,885
615
7,207
198,134
(10,898)
224,943
Closing
balance
2022
£
12,426
-
4,945
17,371
61,646
79,017
7,315
13,444
7,277
1,957
29,994
109,011

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
41,529
-
3,583
31,532
17,371
(14,999)
61,646
17,371
Unrestricted Funds		 Restricted
funds
£
29,994
29,994		 2022
£
41,529
-
3,583
78,897
(14,999)
General
funds
£
41,529
-
3,583
31,532
(14,999)
61,646
109,011

Page 14

HOPE STREET WREXHAM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Designated funds

The Furniture and fittings designated fund relates to funds that have been set aside for the purchase of office furniture, chairs, cafe furniture and decor.

The EF operational fund is a fund which accounts for the income received from Holy Trinity Brompton and the Church of Wales' 'Evangelism Fund'. The costs relate to the day to day costs of running the charity, particularly staff costs.

The Café Designated Fund relates to income and expenditure from the charity's café operation, Tabernacl.

Restricted funds

The grant from the Church Revitalisation Trust [CRT] is to be used for the set up and operational costs of the church.

The Building refurbishment fund is used for any additional building work to be completed.

The Love Christmas fund is used to put together give-away boxes of hope to people in the local community struggling at Christmas.

Other restricted funds include specific appeals for charities that align with Hope Street Wrexham's mission such as Tearfund and Open Doors.

14 Transactions with related parties

During the year the charity received donations totalling £9,608 (2022: £7,377) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).

No expenses (2023: £nil) were paid to, or for, the trustees.

15 Members

Each member of the charity commits to contribute if the charity is wound up an amount of £10.

16 Reconciliation with previously reported funds

In the previous year the charity prepared its accounts using the receipts and payments basis; in the current year the charity's income exceeded £250,000 and so it is now obliged to use the accruals basis for the preparation of its accounts. The comparatives presented in these accounts have been re-stated using the accruals basis and a reconciliation with the reserves and results reported previously follows:

Reconciliation of reserves
Previously reported reserves, at 31 December
Adjustments arising from use of accruals basis:
Inclusion of previously excluded fixed assets
Inclusion of previously excluded debtors
Inclusion of previously excluded creditors
Re-stated reserves, at 31 December		 2022
£
78,897
41,529
3,583
(14,999)
109,010		 2021
£
103,216
39,211
5,007
(10,127)
137,306
Previously reported results
Adjustments arising from use of accruals basis:
Capitalised expenditure less depreciation
Movements in debtors resulting in the recognition of more / (less) income
Movements in creditors resulting in the recognition of less / (more) expenditure
Re-stated results
Reconciliation of results		 2022
£
(24,320)
2,319
(1,423)
(4,872)
(28,296)

Page 15

HOPE STREET WREXHAM

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations
3
Charitable activities
4
Total income and endowments
EXPENDITURE ON:
Charitable activities:
5
Total Expenditure
Net income/(expenditure)
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13		 General
Designated
2023
2023
£
£
132,543
232,231
7,987
44,963
140,529
277,194
123,205
176,765
123,205
176,765
17,324
100,430
1,725
(1,725)
19,049
98,705
61,646
17,371
80,695
116,075
Unrestricted funds		 Restricted
2023
£
5,978
-
5,978
7,799
7,799
(1,821)
-
(1,821)
29,994
28,173		 Total
2023
£
370,751
52,950
423,701
307,769
307,769
115,932
-
115,932
109,010
224,943		 General
Designated
2022
2022
£
£
83,559
94,079
30,027
92,260
115,406
51,614
137,933
51,614
137,933
40,646
(22,527)
(41,471)
27,471
(825)
4,944
62,471
12,426
61,646
17,371
Unrestricted funds		 Restricted
2022
£
5,473
5,473
51,888
51,888
(46,415)
13,999
(32,416)
62,409
29,994		 Total
2022
£
183,111
30,027
213,139
241,435
241,435
(28,296)
-
(28,296)
137,306
109,010

Page 16