Charity registration number 1193007
Company registration number 12735495 (England and Wales)
REBUILD WITH HOPE FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
REBUILD WITH HOPE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr A M Potts Mr S P Simpson Ms V Blakeman Ms I J Brooks (Appointed 15 June 2023) Charity number 1193007 Company number 12735495 Registered office 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Independent examiner Helen Furlong FCCA McLintocks (NW) Limited 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Solicitors Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR
REBUILD WITH HOPE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 16 |
REBUILD WITH HOPE FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2023
The trustees present their annual report and financial statements for the year ended 31 July 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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).
Objectives and activities
The objects of the charity are for the public benefit in the United Kingdom:
-
To Promote social inclusion of prisoners and ex-offenders and assist them to integrate into society;
-
To promote the rehabilitation and education of prisoners and ex-offenders, and the reduction of reoffending, particular without limitation by providing or enabling training and job opportunities;
-
To relieve the needs of prisoners and ex-offenders who are suffering the effects of unemployment, financial hardship, ill health or disability.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
REBUILD WITH HOPE FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
Achievements and performance
This year was one of consolidating our message as well as our physical expansion and growth.
We continue to reinforce our core principles of empathy and care for those struggling to find work, resettling in the community post-release, struggling with the cost of living, suffering from mental health or have learning difficulties. We are building relationships with an ever increasing number of individuals and working on their particular needs however varied and difficult.
We are more than signposting, we are making positive improvements in rehabilitation of those we encounter by offering full time and part time employment.
This year we have spent a lot of time gearing up for our major expansion into large scale retail. In October 2022 we agreed to take a lease on the huge former Debenhams site in Wigan town centre. We had hoped to open it for Christmas 2022. It subsequently took 10 months to finalise the lease and get the keys. At the time of writing April 24 this store is now open.
In April 23 in anticipation of opening we recruited some high level expertise in a retail manager. and to manage an increased cohort of service users we recruited an employment liaison lead.
In June and July we recruited a further 15 staff. The store opened in August 23. This will be covered in next years
report.
Our original ambition of establishing a community hub will be realised in Wigan. It will enable us to offer training courses across a wide field of interest to assist in widening individuals life chances.
This stable centre will allow us to expand operations across the GMCA, our core area of interest.
We have added more community sales to our roster and so are reaching new disadvantaged communities across GM Lancashire and Merseyside.
In order to service the new sales in north Lancashire we have opened a warehouse in Blackpool. We offer paid employment there for serving prisoners on ROTL from local Kirkham prison and it allows us to supply targeted stock to run more community sales at a lower cost. These prisoners will also have access to our Wigan hub to receive education and training courses.
We have attracted funding from new sources and overall we have increased our connections with other funding
bodies and other charities complimenting our services.
We were very fortunate to receive £4000 in Grant Funding from the John Moores Foundation, this allowed us to expand our footprint in Merseyside and to support more men retuning to the area. Because of this funding we were able to support 2 men from Merseyside into full time employment and to support community centres in Huyton and St Helens by holding regular sales offering goods at a huge discount to disadvantaged communities. We hold sales in these venues on a monthly basis, they are very well attended.
This awareness of our offer within a broader community bodes well for 2023-24.
Volunteer Hours
Across our projects this year we have had 2,421 volunteer hours from members of the community and have recruited 32 community volunteers.
Progression
We have had 28 men serving or ex-offenders on our training programme with 21 progressing into paid employment.
Community
We have worked with 48 community venues across Greater Manchester, Cheshire, Lancashire and Merseyside holding 126 sales supporting disadvantaged communities.
We have supported over 700 families with donations of school uniform helping to ease their financial burden.
- 2 -
REBUILD WITH HOPE FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
Financial review
Incoming resources during the year amounted to £499,113 ( 2022 £178,124) and expenditure of £524,505 (2022 148,549) leaving funds carried forward of £8,683 (2022 £34,075).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Currently this policy is not yet met., but plans are in place to achieve this level.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Future plans:
We will establish our community hub in Wigan providing support, volunteering, training and progression into employment for individuals with barriers to employment.
Our hub will provide a resource and service to other charities and CICs to enable them to provide support for members of the local community.
We will develop our retail offer across the North West by opening a large retail outlet in Greater Manchester hub providing high quality low cost products.
Structure, governance and management
The charity is a company limited by guarantee and governed by its Memorandum and Articles of Association dated 10 July 2020.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr A M Potts
Mr S P Simpson Ms V Blakeman Ms I J Brooks (Appointed 15 June 2023)
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Mr A M Potts
Trustee Dated: 22 May 2024
- 3 -
REBUILD WITH HOPE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF REBUILD WITH HOPE FOUNDATION
I report to the trustees on my examination of the financial statements of Rebuild with Hope Foundation (the charity) for the year ended 31 July 2023.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 FCCA, 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 that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Helen Furlong FCCA McLintocks (NW) Limited
46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR
Dated: 22 May 2024
- 4 -
REBUILD WITH HOPE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 3 51,800 4,000 Charitable activities 4 443,210 - Investments 5 103 - Total income 495,113 4,000 Expenditure on: Charitable activities 6 502,126 22,379 Total expenditure 502,126 22,379 Net income/(expenditure) and movement in funds (7,013) (18,379) Reconciliation of funds: Fund balances at 1 August 2022 15,696 18,379 Fund balances at 31 July 2023 8,683 - |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 55,800 50,000 20,322 443,210 107,802 - 103 - - 499,113 157,802 20,322 524,505 146,606 1,943 524,505 146,606 1,943 (25,392) 11,196 18,379 34,075 4,500 - 8,683 15,696 18,379 |
Total 2022 £ 70,322 107,802 - |
|---|---|---|
| 178,124 148,549 |
||
| 148,549 | ||
| 29,575 4,500 |
||
| 34,075 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
REBUILD WITH HOPE FOUNDATION
BALANCE SHEET
AS AT 31 JULY 2023
| 2023 Notes £ Fixed assets Tangible assets 12 Current assets Stocks 13 102,900 Debtors 14 14,360 Cash at bank and in hand 10,410 127,670 Creditors: amounts falling due within one year 15 (147,605) Net current (liabilities)/assets Total assets less current liabilities The funds of the charity Restricted income funds 17 Unrestricted funds |
£ 28,618 (19,935) 8,683 - 8,683 8,683 |
2022 £ - 5,148 43,052 48,200 (32,223) |
£ 18,098 15,977 |
|---|---|---|---|
| 34,075 | |||
| 18,379 15,696 |
|||
| 34,075 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 22 May 2024
Mr A M Potts Trustee
Mr S P Simpson Trustee
Company registration number 12735495 (England and Wales)
- 6 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
Charity information
Rebuild with Hope Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 46 Hamilton Square, Birkenhead, Wirral, Merseyside, CH41 5AR.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
All costs are allocated between the activity categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 10% on cost Fixtures and fittings 10% on cost Computers Enter depreciation rate via StatDB - cd198 Motor vehicles 20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 8 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 9 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted Restricted funds funds 2023 2023 £ £ Donations and gifts 51,800 - Grants receivable - 4,000 51,800 4,000 Grants receivable for core activities The Big Lottery - - Coalfields Regeneration Trust - - John Moores Foundation - 4,000 - 4,000 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 51,800 50,000 - 4,000 - 20,322 55,800 50,000 20,322 - - 9,800 - - 10,522 4,000 - - 4,000 - 20,322 |
Total 2022 £ 50,000 20,322 |
|---|---|---|
| 70,322 | ||
| 9,800 10,522 - |
||
| 20,322 |
4 Income from charitable activities
| Clothing | Clothing | |
|---|---|---|
| sales | sales | |
| 2023 | 2022 | |
| £ | £ | |
| Shop sales | 360,840 | 107,802 |
| Labour recharged | 82,370 | - |
| 443,210 | 107,802 | |
| Analysis by fund | ||
| Unrestricted funds | 443,210 | 107,802 |
- 10 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
5 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Interest receivable | 103 | - | |
| 6 | Charitable activities | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Staff costs | 317,184 | 57,466 | |
| Depreciation and impairment | 5,513 | 609 | |
| Cost of goods sold | 51,799 | 50,000 | |
| Premises costs | 68,459 | 25,910 | |
| Other costs | 73,898 | 10,059 | |
| 516,853 | 144,044 | ||
| Share of support costs (see note 7) | 4,877 | 3,255 | |
| Share of governance costs (see note 7) | 2,775 | 1,250 | |
| 524,505 | 148,549 | ||
| Analysis by fund | |||
| Unrestricted funds | 502,126 | 146,606 | |
| Restricted funds | 22,379 | 1,943 | |
| 524,505 | 148,549 |
- 11 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
| 7 Support costs Support costs Governance costs 2023 £ £ £ Bank charges 792 - 792 Accountancy fees 1,646 - 1,646 Professional fees 2,439 - 2,439 Legal and professional - 1,275 1,275 Independent examiners fee - 1,500 1,500 4,877 2,775 7,652 Analysed between Charitable activities 4,877 2,775 7,652 8 Net movement in funds 2023 £ The net movement in funds is stated after charging/(crediting): Depreciation of owned tangible fixed assets 5,513 9 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits charity during the year. 10 Employees The average monthly number of employees during the year was: 2023 Number Sales and administration 13 Employment costs 2023 £ Wages and salaries 293,718 Social security costs 16,334 Other pension costs 7,132 317,184 |
2022 £ 189 2,131 935 - 1,250 |
|---|---|
| 4,505 | |
| 4,505 | |
| 2022 £ 609 |
|
| from the 2022 Number 4 |
|
| 2022 £ 49,549 4,717 3,200 |
|
| 57,466 |
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 12 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
10 Employees
(Continued)
| The number of employees whose annual remuneration was more than £60,000 is as follows: £60,001 - £70,000 Remuneration of key management personnel The remuneration of key management personnel was as follows: Aggregate compensation |
2023 Number 1 2023 £ 77,221 |
2022 Number - |
|---|---|---|
| 2022 £ 20,440 |
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Tangible fixed assets
| Plant and equipment Fixtures and fittings Computers Motor vehicles £ £ £ £ Cost At 1 August 2022 4,030 1,692 - 12,985 Additions - - 1,033 15,000 At 31 July 2023 4,030 1,692 1,033 27,985 Depreciation and impairment At 1 August 2022 134 42 - 433 Depreciation charged in the year 403 169 344 4,597 At 31 July 2023 537 211 344 5,030 Carrying amount At 31 July 2023 3,493 1,481 689 22,955 At 31 July 2022 3,896 1,650 - 12,552 13 Stocks 2023 £ Raw materials and consumables 102,900 |
Total £ 18,707 16,033 |
|---|---|
| 34,740 | |
| 609 5,513 |
|
| 6,122 | |
| 28,618 | |
| 18,098 | |
| 2022 £ - |
- 13 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
| 14 Debtors Amounts falling due within one year: Prepayments and accrued income 15 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Other creditors Accruals and deferred income 16 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2023 £ 14,360 2023 £ 6,814 119,280 18,661 2,850 147,605 2023 £ 7,132 |
2022 £ 5,148 |
|---|---|---|
| 2022 £ 13,148 - 15,517 3,558 |
||
| 32,223 | ||
| 2022 £ 3,200 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
17 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 August | Incoming | Resources | At 31 July | |
|---|---|---|---|---|
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| The Big Lottery | 8,974 | - | (8,974) | - |
| Coalfields Regeneration Trust | 9,405 | - | (9,405) | - |
| John Moores Foundation | - | 4,000 | (4,000) | - |
| 18,379 | 4,000 | (22,379) | - |
- 14 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
| 17 | Restricted funds | (Continued) | |||
|---|---|---|---|---|---|
| Previous year: | At 1 August | Incoming | Resources | At 31 July | |
| 2021 | resources | expended | 2022 | ||
| £ | £ | £ | £ | ||
| The Big Lottery | - | 9,800 | (826) | 8,974 | |
| Coalfields Regeneration Trust | - | 10,522 | (1,117) | 9,405 | |
| - | 20,322 | (1,943) | 18,379 |
The Big Lottery Grant was awarded to assist in the setting up of a community shop for the sale of discounted clothing.
The Coalfields Regeneration Trust Grant was awarded to assist in the setting up of school uniform and clothing bank.
The John Moores Foundation Grant was awarded to support the expansion of the charity's work into the Merseyside area.
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 August | Incoming | Resources | At 31 July | |
|---|---|---|---|---|
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 15,696 | 495,113 | (502,126) | 8,683 |
| Previous year: | At 1 August | Incoming | Resources | At 31 July |
| 2021 | resources | expended | 2022 | |
| £ | £ | £ | £ | |
| General funds | 4,500 | 157,802 | (146,606) | 15,696 |
19 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2023 2023 £ £ At 31 July 2023: Tangible assets 28,618 - Current assets/(liabilities) (19,935) - 8,683 - |
Total 2023 £ 28,618 (19,935) 8,683 |
|---|---|
- 15 -
REBUILD WITH HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
19 Analysis of net assets between funds
| Analysis of net assets between funds | (Continued) | ||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | funds | ||
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| At 31 July 2022: | |||
| Tangible assets | 18,098 | - | 18,098 |
| Current assets/(liabilities) | (2,402) | 18,379 | 15,977 |
| 15,696 | 18,379 | 34,075 |
20 Operating lease commitments
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Within one year | 23,333 | 3,750 |
21 Related party transactions
During the period the charity received a loan of £16,985 (2022 £12,985) from Remade with Hope Limited, a company in which the trustee Mr A Potts is materially interested. The loan is interest free and repayable within one year. In addition Remade with Hope Limited sold good to the value of £117,900 to the charity. The transactions were made at arm's length and the amount outstanding to Remade with Hope limited was £119,280.
The Charity also provided services to Rebuild with Hope limited amounting to £30,570.
In addition to the loan Remade with Hope Limited donated stock amounting to £51,800 (2022 £50,000) to the charity.
- 16 -