Charity registralion number. 1191561 Hope Works Annual Report aThJ Financ4al Statements for Ihe Year Ervjwj 31 MarGh 2024 WESTCOTTS ¢waiieRID ACCOUNTANT* • •USIILESS ADVISI•S
Hop8 Works Contents (cont5nued) Reference WKI Admini8tratlve DetaiL8 Trustees, Report 2to4 Independent Examinerfs ReF*Nt ststement of Flnan(aal Acbvrbes Balance Sh&t Notes to the Flnano81 Statements 8t014
Hope Works Reference and Administrative Detalls Twste•s Vonayi Nyamazana Mr David Millar Sean Mullens Reverond fina S8mpSonmh Tatenda Mandishona Fadzisai Gukuta Rlchard Mullens Charlty Reglstratlon Number 1191561 Prlndpal Office 85 Great Ptsand Street Lon W1W 7LT Independent Examln•r Westcott5 (SW) LLP 47 BoutFQrt Street B8mstaKAe Devon EX31 1SQ Page 1
Hope Works Trustees. Report The trustees present the annual rert troether wlth the financial statements of the charfty for the year ended 31 March 2024. Structure, Govemance. and Managoment Goyernlng Document HO Works is a charitable incofporat&J organlsation. reglstered on 1 October 2020, and estsblished under a Constitution (Foundation Structsjre). The onty voting members are Its Trustees, wh) e5tsblbhed rts obledives 8nd [. Recrultment and Appolnlmenl of Tte06 The Iruslees S keen to invite new Iwstees who share in the charitys visK)n. to bring dfversity and different expert skills to the Trent both. 5 Trustees have resigned after the year end and we are in the process of rewitlThJ new Trustees as we are dlscussing the future of Hope Works with our Partners in Jmbabwe. Inductlon and Tralnlng of Trust•os As new Iru5tees n the organisation, they are a$spjn a trustee mentor to gulde them through their six-monlh inductlon period. They InallY Snd time wth the Chalr of Trustees and receive an lThJuction Pa containing key informalion att Ihe organisation. Objectlves and Actlvltles Publlc Banefil The trustees have complied wth sectKJn 1715) of thg Charrtles Act 2011 regarding thé public benefft requirèment. MissSon and Activities Our mission: To feed the hungry. care for the sld(, and W0de access to edLicAtion and trainiThJ for better futures. What we do.. Hope Works Is dedicated to ensurfng thal the ptsor in Zimb8bwg have better futures by giving grants to partners that prowde food for th8 hungry, medi(al care for the sick, education for children and tr8ining for sustainability. We aim to gtve hope as we help relieve povety and Improve the lives of the poor and vulnerable in Zimbabwe. We believe that lon9-temi. sustainable development can only be achieved when socigty addresses the issues that USe povety with an Integrated approach. Why we do it: As a charity, w6 alm to bring sustsinabifity, dJnrty, lustice and hope to disadv8ntaged people affected by povety- We fimity believe in heln9 people to help themselves and are led by the communities we seek to emrM)w8r. How w• maxlmlse impaG: As soon as beneficiaries can, they pass on the resources and skills they have received to others. This prinuple of sharing kThJwledge and resources halps build flourishing communities and enable5 US to work cost-effecttvely. Page 2
Hope Works Trustees. Report (continued) Purposes and alms The objectives of the CIO are to be frJrthefed by fdknwing the prinuples of Ihe Christian falth and to be undertaken for the benefft of the pewe of Jmbabwe. These objectives are: 1. The prevenllon or rellef of Foverty by provlding or a5SiSting in the provlslon of educ8tlon, tralning. healthre projects and all the necessary support designed lo enable In¢Jividuals to generate a sLJstainabte Income and be seif•suffi¢ienL 2. To further other purposes whith may be L*aritable according to the law of England and Wales as the trustees see fit from time to time. Financlal Revlew Income For the finanual ye8r April 2023 to March 2024. Hope r1Ved a total of 113,216 from regular donors. one-off donations, trusts. and grants. Expendlture Hope Wcxks allocated £114.052 to grants for parlner projects during this period. Key Impact Ar&as: EduOn and Training Supported Ndeipi Business Training. enhancang skllls ar resourc8 evailablity. Provided education support. indudkng schoLq fees and study materials. Hoalth and Nutrltlon DistribLrted fd pad(s and formula to Infants ar vulneraNe groups. ssisted with critical medical expenses for thildren and adutrs. Communlty D•v•lopmenl Invested In L8nd for schcd dassrcrt)ms. Delivered bicyrles to rural pastors lo enhance Ihelr abilty to setve vulnerable communitias effectivdy. Environmental Initiatlves Corrttnued trelanting projects. contribuiing to environmental sustsinabilty. R•seThes Poll¢y The trustees aim to keep administrative costs ky•, ernsuring maxirThJm funds are dirécted to tharitable advitles. The piCY wll be reWed annualty to alvJn vmth growing actlvlties. Page 3
Hope Works Trustees. Report (continued) FUre Plans Wè vlll focus on expanding patherships and ensuring sustainable devdopment In Zimbabwe and beyond whlle continulng to pr[[11$e fcKJd secuiity. educauon. and healthcare. 3010112025 The annud report was approved by the trust&s of Ihe charlty on ................... behalf ty. and signed on Its Sean Muln8 Trustee e4
Hope Works Independent Examinerfs Report to the trustees of Hope Works I report to the trustees on my examinatk)n of the a¢Unts of Hope W¢Nks for the year ended 31 March 2024. Regponslbllltl•s and basls of rnport As the charity trustees of Hope Works you are responslble for the preparation of the accounts In accordance the requlrements of the chare$ Act 2011 (Ih8 Acf). I report in respect of my exarninalion of the Hope WO 's accounts rried out under section 145 of the 2011 Act and in Carrng out my ex8mination I have followed all the applicable Directions given by the Charity Commission under section 145{5Xbl of the Act. Independent •xaminerfs stalem•nt I have completed my examinatwjn. l o)nfirm that no material matters have c£)me lo rny attention in o)nnedion with the examination g5ving me caLW to believe that in any material re5p*cL 1. accounting recths were not kept in respect of Hope Wuks as required by Sect1 130 of the Act", or 2. the accounts do not accord wilh tfv)se records; or 3. the accounts do not comply wÉth the accounting requirements nCernIng the fomi and content of accounts set out in the Charities {Accounts and Reports} RegulanS 2008 other than 8ny requirement that the accounts give a 'tnJe and fair vith< which i8 not a matter )nSidered as part of an independent ex8mination. I have no concems and have come 8cmss no other m8tters in c4)nnectw)n with the examination to whith attention should be drawn in thi5 report in order to enable a proper understsndir4J of the accounts to be r8ached. Catherine Williams FCA DChA Independent Examiner WestCL)tts (SWI LLP 47 Boutport Street B8mstaple Devon EX31 1SQ Date:.S..l......... Page 5
Hope Works Statemenl of Flnancial Activlties for the Year Ended 31 March 2024 Unrestrlcted Restrlcted funds funds Totsl 2024 Total 2023 Note Incorne and Endowments from: Donations and legacies 6,166 107.050 113.216 173.831 Total income 6.166 107.050 113.216 173.831 Expendlturn on: Charitable a¢*vltles 113.374 1120.2281 120,2281 145.294 Totsl expenditure Net {expenditureYincome Net movement in funds 6.854 113.374 145,294 6.324 .012 28,537 16881 (6,324) (7.012} 28.537 Recon¢lllatlon olfvnds Totsl funds brought forward Total funds carTied foTward 10 1.120 68.425 69.545 41,008 432 62.101 62.533 69,545 AJI of the chaiity's a{thes derlve frc¥n ¢xxitinuing cperdlions during Ihe above ts¥o periods. The fijnds breakdown for 2023 is shown in note 10. The notes on pages 8 to 14 forni an int&Jral part of finan81 slgtements. Page 6
Hope Works (Registration number: 1191561) Balance Sheet as at 31 March 2024 2024 2023 Current assets Cash al bank and In h8nd 64.533 71.145 Crgdltors: Amounts falllng du• within one ye 2.LKJO {1.6001 69.545 Net assets 62,533 Funds of the charfty: Restrlcted Income funds Restricted funds 62.101 68.425 Unrestrlcted Income funds Unrestricted fvnds 432 1,120 Total funds 10 62,533 69,545 The financial stat8ments on pages 6 to 14 apwoved by the trustees. and auUK)rised for issue on 3010112025 . and signed on theSr behall ty. Sean Mullens Twstee The notes on pages 8 to 14 form en integrnl part of these finanrAal ststements. Page 7
Hope Works Notes to the Financial Statements for the Year Ended 31 March 2024 1 Accountlng pollcles statement of compllance The financial statements have prepared accordance with the second editlon of the Charities Stslement of Recommended Praclice issued in October 2019, the FinancAal Reporting Standard applicable in the United lQrrfJd and RepU1C of Ireland {FRS 1021 and the Chartil&s Act 2011. Basly of preparatlon Hope Works meets the dellnlkn of a pU1C benefft enW undèr FRS 102. The a¢Unts lfinan¢lal statements) have been prepared under Ihe historical cost conventKJn wth items recognised at cost or transaction value unles5 olhewse stated in the relevant note{sl to these accounts. The financial statements have been prepared in sterlirwJ I1th is the luncuona cJJrrency of the charity. Golng concern The trustees consider that there are no material UertaIne$ abt the obilty to conllnue as a going concem. Income and end¢)wments Voluntary in¢omg induding donations, gffts. legacies and gf8nts that provide cor8 funding or are of a genefal natu Is recognised when the charity has entillemenl to the income, tt is probable that the Income will be red and the amount can be measured with sufficient reliability. Donatlons and legacies DOnatiS and aeS are re(x¥Jnlsed on a receivable basls when receipt is probable and the amount C8n be reliably measured. Expendlture All expendltrjre Is recogni8ed On there 15 a legal or constructtve oNigalion to that expendibjre. h Is probable settlement is required and the amount C8n be measured rellably. Al costs are allocated to the applicable expendtbjre heading that aggregate simllar cxists to that Category. Whare c4)sls cannot be dlrectly attributed to paTticJJlar headings they have been allocated on a basis consislenl with the use of resources, wilh ntral staff c#)sts allocated on the basis of time spent, and depwlation charges allocated on the portion of the a&%et's use. Other 5UPPOrt costs are allocated based on th8 spread of staff ojsls. Charltable activltles Charitable expenditure wmprises those costs in(yJrre¢J by Ihe charity in the delivery of its acuwties and servic85 for ils beneficiaries. 11 Indudes both cnsts that can be allocated directly to such actiwties and those costs of an indireci nature necessary to SUPE them. Grant provislons Provisions for grants are made when the intention to make a grant has boen communicated lo tha rerypient but there is uncertainty abcwt either the timing of the grant or the amount of grant payable. Page 8
Hope Works Notes to the Financlal Ststsments for the Year Ended 31 March 2024 (continued) Supp¢rt Support costs Indude central fvncuons and have been alocated to activty cost categories on a basls consistent wth the use of resources. for example, alk)cating prOty costs by floor areas, or per capita. staff costs by the time spent and other c¢)sts by thelr usage. Cash and •qulval•nts Cash and cash equiv81ents comprise cash on harKI and call derx)slts. and other short-term huhly liquid investments that are readity nVertible to a kThyn 8mcxJnt ol cash and are subject to an insignificant risk of change in value_ Fund structure Unrestricted incom8 funds are general furKls that are available for use at the trustses discretion kn fiJrtheran of the oblectives of the charity. R&stricted income funds are those donated for use in a parDcJjr area or for spedfic purp)ses, the use of whKh is restricted to that area or purSe. Flnanclal Instruments Classnlcatlon A financial asset or a financial liabllty is recngniwj onty whèn the entity becomes a paty lo Ihe contractual provisions of the instrument. Recognition and moasurament All financial assets and liabilrbe5 are inibalty measured at transaction pii(s {indudir4J transactlon costsl, except for those financial assets dassffled as at fair value through profil or loss. which ara InStlally measured at fair value (which 15 nomially the transaction Pri excluding transaction coslsl, unless the artangement constitutes a finanan9 transaciKJn. If an arrangement constitutes a financing transaction, th& ffinandal assel or financial liabilty is measured at the present value of the future paymènts dtscounted at a market re of interest for a slmilar debt Instrument. FinarKial assets and liabilities are onty offset in the statement of financlal wsilion when, and only when there exists a tegalty enforceable right lo set off th8 recognised amounts and tho chartty Intends eithei to s8tUe on a net basis. or lo realise Ihe asset and setde the liability simultaneously. FInarla1 assets are dereccgnised wn and onty when a} the contr8clual rights to the cash flDWS from the financial asset expire or are selued. b} the charity transfers lo another party substantially all of the rlsks and rewards of ownership of the financyal 8SS8t. or cl the charity, despite hawng retained soffle. but not all, signsficant risks and rewards of owneFship, has transforred control of the asset to another party. Flnanclal liabilities are derecognised only when the oblwknon speafied in the o)ntract is discharged, Can¢Ied or expires. Page 9
Hope Works Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 2 Income from donatlons and legacles Unrestricted tunds Restrlcted funds Total 2024 Donations and legacies. Geneial lund Kukosha Mirdde Missknn Unseen Pursutt zwo Wodd Impact Trust General fund 5% ExchaThJa profftAoss 535 23.042 1.061 58,669 19.586 5,038 5,652 367 23.042 1,061 58.669 19,586 5.038 5.652 21 (3461 107.050 6.166 113,216 Unrestrlcted funds Restrlcted funds Total 2023 Donations and legades: General furKI Kukosha Miracle Mission Unseen Pursult zwo World Impact Tnjst General fund 5% Exchange prof0$$ 20.249 168 117,657 7.759 11.103 20.249 117,657 7,759 11.103 8,246 4.183 8,246 4,138 12.757 161,074 173831 P8ge 10
Hope Works Notss to the Financial Statements for the Year Ended 31 March 2024 (continued) 3 Expendlture on chaTitsble a¢tlvities Unrostrl¢tod funds Restrlcted funds Total 2024 Gr8nt funding of a1vIt*S Allocated suptth costs 678 6,176 113.374 114.052 6,176 120,228 6.854 113.374 Unrestricted funds Restrlcted funds Tolal 2023 Grant funding of aCIfveS located suppjrt costs 7.104 7.061 131.129 138.233 7,061 145.294 14.165 131.129 Grant fundlng of activlty Support ¢o$ts 2024 General fund Kukosha Unseen Pursuit 678 26,921 72.486 13.769 2,253 2,931 26.921 72,486 13.769 198 3,923 Wd lrnpact Trust Gener815% 3.923 6,176 114.052 120.228 Grnnt funding of activity Activity support costs 2023 General fund Kukosha Miracle Mission One Church Unseen Pursult zwo Wodd Impad Trust General 5% 7.104 20.276 2,292 9,396 20,276 843 1,605 88,252 7,667 12,486 4,769 1.605 88,252 7,667 12.486 4,769 7.C61 138.233 145.294 Page11
Hope Works Notes to the Financial SLornents for the Year Ended 31 March 2024 (continued) 4 Analysls of support costs Support sts allocated to ch8rltsble activltles Total 2024 Totsl 2023 Office expenses Accountancy fee5 Independent examinerfs fee Bank charges 73 610 1,570 3.923 512 990 6,176 7,061 S Grants to Instltutlons Below are details of material grants made to Inststuti. 2024 2023 General fund Kukosha Miracle mlssion One Churth Unseen pursult zwo Worfd Thpact Trust 678 26.921 7,104 20.276 1.605 88,252 7,667 12,486 138.233 72.486 13,769 114.052 6 Trustoos remunerntlon and expenseB No trustees, nor any persons nnected vrith them. have received any remuneration from the charity during the year. No trustees have receNed any reimbursed expenses from tha charity durlro the year. 7 Stsff costs The average head count of empbw during the pthJ was Nil. No employee received emoluments of me than £80.0 during the ar Page 12
Hope Works Notes to the Financlal Statements for the Year Ended 31 March 2024 (continued) 8 Cash and cash equivalents 2024 2023 Cash at bank 64,533 71.145 9 Crlt015. amounts falllng due wlthln one 2024 2023 Accruals 2.000 1,600 10 Funds Balance at 1 April InmIng Re$our¢es 2023 resourus exp•nded Transfers 88lance at 31 March 2024 unrestr1¢t fvnds General General Funds 1.120 6,166 {6,854) 432 Restrlct•d fund¥ Kukosha Mirade Misslon Unseen Pursuit 692 105 66.654 974 22,987 1.055 58.751 19.298 4,959 107.050 {26,9211 3.242 1,160 52.919 3.261 4.761 (72.486) (13,769) (198} 113.374 zwo Worfd 1rnpa Tnjst (3,2421 68.425 62,101 Totsl funds 69.545 113.216 120.228 62.533 Restricted Funds Restricted funds represent income received by Ihe chartty for speufic purFX)ses as restricted by the donors or through the terms of a funding agreement. The charity ensures that Ihese funds are used solely for their intended purF4Jses. including grants, projecls. and activities. in line with the reslriclions. Any unspent balances at the year-end are carried forward and remain restricted for use in subsequent perirxjs. Eath of Ihe funds are restrict by the donors for use by the abov8 organisations. Grants are paid to each of the organisations following an application for assistance from the organisatlonlpartner which has been approved by Trustees. Tr4nsfer of Funds During the year. transfers totalling £3,242 were made Kukosha to ZWO to cover the costs of loinuy fiJnded grants. Pag8 13
Hope Works Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Balance at Balance at 31 Mah 2023 Incomlng Resources r•sources expended Transfers 2022 Unrestricted lunds Genoral General Funds 4.314 12.757 {14.1651 11.7861 1.120 Restrlctsd funds Kukosha Miracle Mlssion One Church Unseen Pursuit Tanaka zwo World Impact Twst 659 735 (20.2761 1843) 11,605} (88,252) (496) 692 105 213 20 120.371 1.585 66.654 160) 496 261 426 279 7,719 11.946 {7.667) 12.486 974 36.694 161.074 131.129 1,786 68,425 Total funds 173.831 145.294 69,545 11 Analysis of net assets betmn funds Total funds at 31 P41aTch 2024 Unrestrlcted funds Restricted funds Current assets Current liabilrties 2.432 62,101 64.533 (2,000 Totsl net assets 432 62,101 62.533 Total funds at 31 March 2023 Unrestricted funds Restrlcted funds Current assets CuThont liabl1e$ 2.720 (1.6 68.425 71,145 (1.600) 69.545 Tolal r1 assets 1.120 68,425 12 Relatsd party transactlons There were no related party transactions in the year. Page 14