ChaTity registration number.. 1191561 Hope Works Annual Report arvj Financial Statements for the Year Ended 31 March 2025
Hope Works Contents (continued) ReferenG8 and Admlnlstralive Details Trustees, Fleport 2to5 Indep8ndent Examinerf5 Rewrt Statement of Finan¢ld Acilwties Baance Sheet Nole51o the Financi Stal8m¢nts 9t016
Hope Works Reference and Adminlslratlve Detalls Trustee8 Vonayi Nyamazana Davld Millar Sean Mullens Reverend Tina Sampson-smith Tat9nda Mandishona Fadzisai Gukuta Richard Mullens Charlty R8glstration Number 1191561 Prlnclpal Office Suite 5 5 Raleigh Walk Brigantine Place Cardiff CF10 4LN Independent Examlner Weslcotts ISWI LLP 47 Boulport Street Barnstaple Devon EX31 1SQ Page 1
Hope Works Truslees. Report The trustees present the annual report togethgr wllh the financial statements of the charity for the year end8d 31 March 2025. Trustees. Statement The Trustees present this report lor the year ended 31 March 2025 and express their sincere gratttude for the continued generosity ol supporters and the comrnitmenl ol partner organisalions worng in challenging contexts. Throughout ihe year, Hope Works has rgmained focused on its charrf(able purpose ol relieving poverty and enabling better lutUTes through access lo food, healthcare, eLfucalion. and training. The year has contlnued lo reNect signiftcanl need w(thin the commun((ies we serve. Economic pressures and vulnerability refflain ongolng challonges., however, through carefully selected local partnerships, the charity has been able io respond in practical and sustalnable ways. The Trustees are encouraged by the resilience demonslraled by communities and by the integrity and commitment ol partners delivering frontline work. The Trusle8s have sought to steward the charity's resources responsibly and prudently. The majority ol funds received during the year were applied directly to charitable acliviiies. with administrative and governance costs kept inlenlionally low. Appropriate financial controls, risk management processes. and compliance arrangements have been maintained to ensure the charity operates in ling with its governing document, regulatory obligations, and charitable objectives. During the year. the Trustees also undertook a 51ralegic review ol the charity'5 granl-making rnodel, particularfy In relation lo Unseen Pursuit, which receives a significant proportion ol funds distributed and play5 a major role in administering and reporting on grants al a local level. As Unseen Pursuit explores securing its own charitable status and receiving funding directly, Ihe Trustees have consideted whether. in due course. a transition of grant adminislralion away from Hope Works may offer a more efficient and cost-effective approach. This review has taken into account trustee capacity, the increasing demands ol governance and accountability, and the charity's limited ability lo undertake regular in-country monitoring visits. The Trustees have been mindful of their duly lo ensure that charrtable funds are managed with appropriate oversight, transparency, and accountabillty. No decisions were made during the rewrting period, and discussions wf(h Unseen Pursuit and other partnays are ongoing as part of the Trustees. responsibility lo act in the best Interests of the charty. Looking ahead. the Trustees rgmain committed lo strong governance. careful stewardship ol resources, and the support of inilialives that promote dignTty, SU5tainabilily. and long-lemi impact. The Trustees are grateful for the trust placed in Hope Works by donors. partners, and beneficiaries and approach the corning year with continued diligence. reflectlon, and commitment lo the ch8rSty's mission. Slructure, Governance and Managemenl Governing Document Hope Work5 is a Charttable Incorporated Organisalion, registered on 1 October 2020 and eslallished under a Constitution IFoundalion Struclurel- The only voting members ol the charity are Ils Trustees, who are responsible for Setting the Charity's objectives and overseeing ils wot1(. Page 2
Hope Works Trustees. Report {contlnued) Recruitment ond Appointment of Trustees The Trustees continue lo seek lo strengthen th8 Board by inviting new trustees who share the charity'5 vision and values and who can bfing additional expertise. diversity. and perspective lo governance and strategic oversight. Inductlon and Tralnlng of Trusloes New Injslees are supported Ihrough a structured induction process. Each trustee is assigned a trust8e mentor for a six month induction period, sperKls lime wilh the Chaii ol Trustees, and r8ceives an Induction pack containing key oiganisational, financial, and governance information. Oblectives and Activltl8S Public Benefit The Trusleos confirm that they have complied wrth their duly under section 17151 ol the Charities Act 201110 have due regard lo the Charlly Commission's guldance on public benefit. Mi$slon and Purpose Our mlssion: To feed the hungry, care lor the sick, and provKle access to education and training lor t*tter futures. Our purpose: Hope Worf(s exists to relieve F)overty and improve the lives of poor and vulnerable communities in Zimba)we. The charity works through trusted local partner organisalions. providing grants that support food security, healthcare. education, and training initiatives. Our approach emphasises suslainabiltty, dignity, empo¥%ement, and long term community transformation. How We Work Hope Works believes sijsialnable development 15 best achieved by addressing the root causes of povety through an integrat8d approach. wheVer posslble, beneficiaries are encouraged and equipped to pass on skills, knowledge. and resources 10 Others. multiplying impact and fostering resilient, self SustnIng communities. Actlvlties and Impacl (Aprll 2024- March 2025) During the reportiro period. Hope Wolks continued to 8UPPOrt a range ol partner organisalions delivering frontline work across Zimbabwe. Funding was directed primarily toward education and Imining, health and nutrition, community development. and capacity building initiatives. Key Impact Areas Educatlon and Training Continued support lor Ndeipi and other skills-based training inilialives aimed at 8quippng indIdUalS lo generate sustainable income. Provision of schi)ol fees, educational materials. and learnlng support to children and young people from vulnerabl8 backgrounds. Ongoing inveslmenl in educalion-locused projects desioned lo improve long-leim outcomes for lamilies and oommunilie5. Page 3
Hope Works Trustees. Report {conllnued) Health and Nutrition Distribution of food support, including formula milk and essential nutrition, 10 infants and vulngralje IndividuS. Financial assi5tanc8 lor medical treatment and healthcare needs where access to services would otherwise b8 limited. Community Development OngoiThJ support lo trusted partnèr organisalions strengthening loc capacity and leadership. Continued inv8slmenl In community infrastruclure projects that enab18 edwation, outreach. and social support. Envlronmental and Suslainablllty Inltlatlves Support lor enviionmantally sustainable praclSces, Including tree-planting and stewardship initiatives, integrated with community education and development. Flnancial Review Income During the y&ar ended 31 March 2025, Hope Works received total incoming resources ol approximately £112,000, comprising donations, Gift Aid. and investment Sncome. In addition, the charity carried forward a balance of £62,533 from the previous linanclal year, Ihe majority ol which related to reslricled funds designated lor ongoing partner projects. Together, these funds enabled the Trustees lo meet existing commitments and to ¢onlinue supporting charitable acliviiies during the year. Expenditure was carefully managed in lin8 with available resources and restricted lund purposes. Expendlture Total expenditure for the year amounted to £121,796, of which E115,776 was applied directly lo charitable grants supporting partner activities in Zimbabwe. Support and governance costs iotall8d E6,020, reflecting the Trustees. continued commitment lo keeping overheads low and maximising funds directed to charitable purposes. Fund Balances Al 31 March 2025, the charity held total funds of £51387, the majority of which wer8 restricted funds held for ongoing partn&r projects. Unrestricted funds remained modest, rellecling th8 charity's grant making model and low overhead approach. R88etve$ Pollcy The Trustees aim to keep administrative and support costs lo a mlnimurn. ensuring that the maximum ssible proportion ol income is applied to charitable aclivitles. Most grants are funded Irorn restricted income. The Twslees consider that, al present, there is no requirefflenl lo hold a significant level of Unfestrted reserves, bul this policy is reviewed annually in light of the charity's scale and aclivilies. Page 4
Hope Works Trustees, Report (conlinued) Risk Management The Trustees acttvety monitor the principal risks facing the charity. particularly those related to overseas grant making and partner relationships. Risk mitigation includes.. Caretul selection and due diligence ot partner organisalions. Ongoing communicatlon and reporting from partners. Trustee oversight of financial controls and compliance. Periodic visits and direct engagement with partners where appropriate. As part ol the Trustees. approach lo risk management and oversight of overseas aclivilies. a Irustee visit to Zimbabwe was undertaken by Sean Mullens in August 2024. During Ihe visit. meetings were held with partner organisalions to review projects, discuss 8ccountabilily and reporting processes, and strengthen relationships. This visit formed part ol ihe Trustees. wider approach to monitoring risk, alongside regular financial reporting, partner documentation, and oThJoing communication. Future Plans In the coming year, Hope Works will contSnue to.. Slrengthen and deepen partnerships with Iwsled organlsations in Zimbabwe, working collaboratively to maximise impact and auntabilIty. Focus funding on sustainable inftialwes that promote dignlty, s8lf-suffioiency, and long-lerm community resillence. Continue to review the most effeCtve and sustainable approach io grant adminislralion and reportlng in partnership with delivery organisalions. Subject lo Unseen PursulL successfully completlno 115 charitable registration and meeting all relevant governance and Comlance requirements, the Trustees may consider a phased transition ol certain granl-making actiwlies in a future reporting period. Maintain strong governance. tinancial stewardship, and oversight as the charity develops and adapts to changing needs and wacilies. The annual report was approved by the In15tees ol the charity on 2510312026 and signed on ils behalf by: Sean Mullens Trustee Pagg 5
Hope Works Independent Examiner's Report to Ihe Irustees ol Hope Works I report lo the trustees on my examination ol the accounts ol Hope Wotks for the year ended 31 March 2025. Responsibililles and basis of report As the charity trustees ol HO Works you are responsible lor the preparation ol the accounts in accordance with the requirements ol the CharTiies Act 2011 Ilhe Act,). I report in respect ol my examination of the Hope Works 's accounts carried out under seciion 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 1451511bl of the Act. Independent examlner's statement I have completed my examination. I CDnlirm that no material matteTS have come lo my attention in connection with the examination giving me cause to believ8 that in any material respect.. 1. accounting records were not kept In respect ol Hope Works as required by section 130 01 the Act., or 2. the accounts do not accord with those records.. or 2. the accounts do not comply with the accounling requirements concerning the form and content ol accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view. which is not a matter considered as parl ol an indep8ndenl examination. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the acwunls to be reached. Catherine Williams FCA DChA Independent Examiner Weslcott5 (SWI LLP 47 Boutport Street Barnslaple Devon EX31 1SQ Dale.. Page 6
Hope Works Statement of Financlal Activltles for the Year Ended 31 March 2025 Unrgstrfcted Restrleted Tolal funds funds 2025 Tt)tsl 2024 Notg Income and Endowments trom: Donations and legacips Investmgnt income 5,472 2.425 103.753 109,225 113,216 Total income 103753 111.650 113216 Expenditure on: Charitable activlties 115.776 121,796 120,228 Total expenditure Nel incomel{expendilurel Net movement in luNJs 6.020 115776 121,796 120.228 7.012 1,877 112,0231 110,1461 17,012} Reconciliatlon of lund3 Total funds brought forward 432 62,533 Tot funds carried lotward 12 2,309 52.387 All ol the charity's actniities derNe from continuing operations during the above two periods. The funds breakdown lor 2024 is shown in note 12. The notes on pag85 9 to 16 fom an integral part ol these financial stalemems. Page 7
Hope Works (Registralion number: 1191561) Balance Sheet as at 31 March 2025 2025 2024 Note Current assets Debtors Cash al bank and in hand 31.088 23,154 54,242 10 64,533 Creditors: Amounls falling due withln one year Nel assets 1.855 2,000 52.387 Funds ol the charity: Reslrlcted income funds Reslrlcted tunds 50,078 62,101 Unrestricled income fund5 Unrestricted funds 2,309 432 Total funds 12 52,387 The financial statements on pages 7 10 16 were approved by the Iruslees, and authorised for issue on 2510W2026 and signed on their behall ty- Sean Mullens Trustee The notes on pages 910 16 form an iTrlegral part ol these financial slalements. Page 8
Hope Works Notes to the Flnanclal Stalements for the Year Ended 31 March 2025 1 Accounting pollcks ststement of compllan¢e The financial slalemenls have been prepared in accordance with the second edition ol the Charities Slalemenl ol Recommended Practico issued in October 2019. the Financial Reporting Standard appliCe In the Uni18d Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis ot preparatlon Hope Works meet5 the definition of a public benefrt enlily under FRS 102. The accoun15 Ilinancial sialement51 have been prepared under the historical cost convention with items recognlsed al cost or transaction value unless otheiS¢ slated in the relevant nolelsl lo thes8 accounts. The financial slalemenls have been prepared in sterfing which is the functional currency of the charity. Goino concern The trustees consider that ihere are no material uncertainties about the charity's ability to continue as a going concern. Income and endowment8 Voluntary ineome including donations. gifts, legacies and grants thal provide core funding or are of a general nature is recogni5ed when the charity has entillemenl lo the income, it is probable that the income will be received and the arnounl can be measured with sullicient reliability. Donations and legacles Donations and legacies are recognised on a receNalSe basis when receipt Is probable and th8 amount can be rèliably measured. Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dwidend due. Expenditurè All expenditure is recognised once there is a legal or constructive obligation lo that expenditure, il is probable settlement is required and the amount can be measured reliably. Ml costs are loCated lo the applicable expendf(ure heading that aggregate similar costs to that category. Where costs cannot be directly attributed lo particular headings they have been allocated on a basis Consislenl with the Use of resources. with central statt costs allocated on the basis of lime sp8nl. and deprèciation charges allocated on the portion ol the asset's Usg. Other support costs are allocated based on the spread of staff costs. Charitable actlvities Charitable expenditure comprises those costs incurred by the chartty in the delivery of ils actiVe$ and setvices for ils beneficiaries. 11 includes both costs that can be Jlocated directly lo such aclwilies and those costs ol an indirect nature necessary to support them. Page 9
Hope Works Notes to Ihe Flnancial Statements for the Year Ended 31 March 2025 (continued) Grnntprovlslons Provisions for grants are made when the intention lo make a grarn has been communicated 10 th8 recipient tjul there is uncartainty about either the timing of the grant or the amount of grant paythe. Support costs Support costs include cential functions and have been allocated to activity Cost categorie5 on a basis Consistent with the use ol resources. lor example. allocating propety costs by fioor areas, or per capita. staff costs by the lim8 spent and other costs by their usage. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call dtrposit5, and other short-terrn highly liquid investments that are readily convertible lo a known amount ol cash and are subject to an insignificant Tisk of change In value. Fund structure Unrestricted incorne funds are general funds that are available lor use al the tNslges discretion in Iurtherance of the objeGtives ol the charity. Reslricled income funds are those donated lor use in a particular area or for speari¢ purposes, the use ot which is restricted to that area OT purpose. Fln8nclal Instruments Classlllcatlon A linancid asset or a financial liability is recognised only when the entity becom8s a party lo the contractual provisions of the inslrumenl. R8Gognltlon and me8suremenl All financial assets and liabilities are initially measured at transaclion pricg linc5uding transaction coslsl, except lor those linancial assets classified as al lair value through profil or loss. which are Initially measured at lair value (which is normally the transaction price excluding transaction coslsl, unless the arrangernent conslilutes a financing Iransaclion. If an arrangement conslitules a tinancing Iransaclion, the linanGi21 asset or financial liability Is measured al the present value of the lulure payments discounted at a mark81 rale ol inleiesl for a similar debt inslTument. Financial assets and liabililies are onty offset in the statement ol financial position when, and only when there exists a legally enforceable right lo sel off the recognised amounts and the charity Inl8nd5 either lo settle on a net basis. or lo realise the asset and sellle ihe liabilTty simultaneously. Flnancial assets are derecognised when and only when al Ihg contractual rights to the cash flows from the financial asset expire or ar& settled, bl the charity transfers to another party substantially all ol the risks and rewards Df ownership ol the financial asset, or cl the charity, despite having retained some, but not dl, significant risks and rewards of ownership, has transferred control ol the asset to another party. Financial liabilf(ies are derecognised only when the obligalion specilled in the contract is dlscharged. cancelled or expires. Page10
Hope Works Notes to the Flnancial Statements for the Year Ended 31 March 2025 (continued) 2 Income from donations and leg8cie$ Unrestrlcted funds Restricted fund8 Total 2025 Donallons and lega¢les General fund Kukosha Miracle Mission Unseen Pursult zwo World Impact Trust General fund 5% Hope Church Seaway Exchange proliuloss Grfl Aid Gift Aid Gener Grfl Aid Kukosha Grft Aid Unseen Pursuit Gfft Aid World Impact Trust 4,876 4,876 461 31,164 278 3,483 4.058 25.450 11,400 16141 31,164 278 3,483 4,058 25,450 11,400 15891 1251 1.432 1,432 5,938 20,746 5,938 20.746 546 103,753 5,472 109,225 Unrestrlcled funds Reslrlcted funds Totsl 2024 Donations and legacies- General fund Kukosha Miracle Mission Unseen Pursult zwo Worfd Impad Trust General fund 5V. Exchange proflvloss 535 535 23,042 1,061 58,669 19,586 5,038 5,652 36 11321 23.042 1.061 58,669 19,586 5,038 5,652 21 6.166 346 107,050 Page11
Hope Works Notes to the Financial Statements for the Year Ended 31 March 202S (conlinued) 3 Investment Income Unrestrlcted funds Total 2025 other interest receivable 2.425 2.425 4 Expendlture on Gharltable actlvities Unrestrlcted funds Restrlcted funds Total 2025 Note Grant fundlng of acAivities located support costs 115,776 115.776 6.020 121.796 6.020 6,020 115,776 Unrestrlcted funds Restrlcled funds Total 2024 Note Grant fvnding ol activities located support costs 678 113,374 114,052 6.854 113.374 120,228 Grant fundlng of actlvlty Support costs 2025 General fund Kukosha Miiaclg Mission Unseen Puisuil zwo Wortd Impact Trust General 5% Hope Church Seaway 2.021 2.021 10,320 1,296 81,606 4.011 2.843 3,999 13,008 10,320 1,296 81.606 4,011 2,843 3,999 13,008 115.776 121.796 Page 12
Hope Works Notes to the Financlal Ststements lor the Year Ended 31 March 2025 (contlnued) Granl funding Actlvlly of activity support CO8ts 2024 General fund Kukosha Un5e8n Pursu zwo World Impact Trust GenBral 5% 678 26.921 72,486 13,769 198 2,253 2.931 26.921 72,486 13,769 198 3.923 6.176 114,052 120.228 5 Analysls of Support cosls Support costs allocated to Charitable activltles Total 2025 Total 2024 Office expenses Accountancy lees Independent examinerfs fee Bank charges 73 610 1,570 3,923 6,176 635 1,386 3.999 6.020 6 Grants to InstitlOn3 Below are details ol material grants made to institutions. 2025 2024 General fund Kuk05ha Miracle mlsslon Unseon pursuit zwo Worfd Impact Twst Hope Church Seaway 678 26,921 10,320 1,296 81,606 4,011 2,843 13,008 72,486 13.769 198 115,776 114.052 Page13
Hope Worf(s Noles to the Financlal Statements for the Year Ended 31 March 2025 (continued) 7 Trustees remuneratlon jnd expenses No trustees, nor any persons connected wlth them. have received any remuneration from the charity during the year. No Irusleas have received any reimbursed expenses from th9 ¢harity during the year. 8 Staff costs The average head couni of employees during the peri¢xI was Nll. No employee received emoluments of more than £60,000 durlng lh8 year g Debtors 2025 Other debtors 31.088 10 Ca$h and cash equlvalents 2025 2024 Cash at bank 23.154 64.533 11 Credltors: amounts falllng due wlthln one year 2025 2024 Accruals 1,855 Page 14
Hope Works Notes to the Financlal Ststements for the Year Ended 31 March 2025 (contlnued) 12 Fund8 Balance at 31 March 2025 Balance at 1 Aprll 2024 Incoming Resources resources expended Transters Unreslrlcted funds General General Funds 432 Restrlcted funds Kukosha Miracle Mission Unseen Pursuit zwo World Impact Tiust Hop8 Church Seaway 10,720 449 51,521 270 3,976 25,423 11,394 103753 110,3201 11,2961 181,6061 14,0111 12,8431 113,0081 2,692 115.776 3,649 4,049 313 18,423 282 5,894 12,415 1,160 52,919 3,261 4.761 14,411) 762 62,101 50.078 Total fund$ 111.650 121 796 52,387 Restrlcted Funds Reslricled funds represent income received by the charity lor specific purposes as restricted by the donors or Ihrough the terms ol a funding agreement. The charity ensures that these funds are used solely lor their intended PUTposes, including grants. projects, and activities. in line with the reslriclions. Any un5penl balances al the year-end are carried lotward and remain restricted for use In subsequent p8riods. Each of the funds are restricted by the donors lor use by the above organisalions. Grants are paid lo each ol the organisations following an applicalKJn lor assistance Irom the organisationlpartner which has been approved by Trustees. Transfer of Fund¥ During the year, transfers lotalling £4,411 were made from Unseen Pursuit lo ZWO and Kukosha to cover the costs of jointly funded grants. Page15
Hope Works Notes to the Flnanclal Stalements lor the Year Ended 31 March 2025 (continued) Balance at 31 March 2024 Balance at 1 Aprll 2023 Incomlng Resources resour8 expended Tr8n8fgrs Llnrestrlcted fundg General Gener Funds 6,166 432 Restrlctsd funds Kukosha Miracle Mlssion Unseen Pursuit zwo Workl Impact Trust 692 105 66,654 974 22,987 1.055 58.751 19,298 4,959 107 050 126.9211 3.242 1,160 52,919 3,261 4.761 62,101 172,4861 113,7691 198 113374 13,242) Total funds 113,216 120.228 62,533 13 Analysls of net assets b9tween funds Total funds at 31 March 2025 Unrestricted funds Restricted funds Current assets Current liabiltties 4.164 1.855 50,078 54.242 Total ngt assets 2,309 50,078 52,387 Total funds at 31 March 2024 Unrestricted fun(ts Restricted funds Current assets Current liabilitles 2,432 62,101 64,533 Total nel assets 432 62.101 14 Related party transactlons There were no related paty transactions in the year. Page16