CHARITY REGISTRATION NUMBER: 1193599
HOH Charitable Trust
Unaudited Financial Statements 31 January 2024
SAMARA & CO
Chartered accountant 511 Kenton Lane Harrow Middlesex HA3 JW
HOH Charitable Trust
Financial Statements
Year ended 31 January 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities | 10 |
| Statement of financial position | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 |
HOH Charitable Trust
Trustees' Annual Report
Year ended 31 January 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 January 2024.
Reference and administrative details
Registered charity name HOH Charitable Trust Charity registration number 1193599 Principal office 250 Lower High Street Watford WD17 2DB The Trustees Mr Afzal Pradhan BME Mr Riyaz Husein Dhalla Mr Komail Alibhai Independent examiner Samara & Co 511 Kenton Lane Harrow Middlesex HA3 JW
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Trustees' Annual Report
HOH Charitable Trust
Year ended 31 January 2024
The trustees present the annual report together with the financial statements and independent examiner's report of the charity for the year ended 31 January 2024.
Message from the Chair of the Board of Trustees
I am extremely proud to present our third set of accounts for HoH Charitable Trust. The charity has continued to act a hub for the promotion of volunteering and community action throughout the UK supporting the most vulnerable and needy in our society with key basic needs and essentials.
We have continued to build in this year a nationwide community and family of volunteers inspired to help those more vulnerable than themselves in the UK. We are grateful to the over 500 volunteers from young children all the way to 90 years of age, who have supported us in a number of a ways. This includes supporting us: at our premises, supporting our move to a new home, packing items at our site and in their homes, transport and logistics, sourcing items, countless nights of strategising and advising the trustees, distribution on the streets and with all partner charities and all those involved in fundraising.
We would also like to thank several of our charity partners and advisors who have allowed us to flourish as a charity. Beta Charitable Trust has been our key strategic partner without whose support it is unlikely we would have been able to have made the impact we have. The grants we have received from them and all other grant providers have been invaluable. We thank all those who have provided us with strategic support throughout the year and in particular our core group who have given up time and their expertise. We would also like to recognise the support we have received from the Valesco Foundation and The Capital Group whose support has also been invaluable especially in our logistics operations by supporting the purchase of our dedicated van.
Over the year we have worked alongside several inspirational charities working daily and weekly on the frontlines to support the homeless and other vulnerable groups in the UK and beyond. There are too many to name, but we are proud of the relationships we have forged and the hospitality you have provided us with as we work together over the year.
During the year, HoH has run 6 major campaigns supplemented by several smaller ad-hoc activities.
Our core activity involves the provision of essential items to the homeless 4 times a year. Each pack is curated following consultation with rough sleepers, other charities and observations. Each pack (which is given seasonally) contains essential clothing; toiletries; and other seasonally appropriate items such as sleeping bags, blankets, rain jackets, sun hats, sun cream, chocolate Easter eggs, eid cards and hot water bottles with fleece covers. During the year we have distributed over 7,000 packs to the homeless in over 35 locations around the country. We have continued our growth as a national charity over the year and wish to continue our growth especially in a year where the cost-of-living crisis has hit so many so harshly.
In addition to the homeless campaign, we have seen an increase in rise of need by school children. Discussions with educational charities and schools showed that many school children were starting school without the basic items needed to support their learning. The costs to families have increased on many fronts and we are proud to have been able to support in a small way. We leveraged our experience learning from our experience last year and created a back-to-school pack that was age appropriate for primary and secondary students and worked with local schools to distribute over 1,000 packs.
We have also run specific targeted campaigns to provide children in hospitals with small gifts during the Christmas period.
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HOH Charitable Trust
Trustees' Annual Report
Year ended 31 January 2024
In this year we have also started providing new services such as our top-up “Pick and Mix” distributions which help to support rough sleepers with targeted items, and which allow us to further rationalise our product selection. We have also started providing periodic hair cutting services and are grateful to the team from Haar Bros and all other volunteers.
In total this year we provided over 8,000 packs and gifts to children.
We believe we have achieved a significant amount of growth in the year and anticipate further activity next year given the unfortunate cost of living crisis and increase in inflation and the price of essential items. We are hoping to increase the services we provide working with our partner charities as we look to provide long term solutions to the rough sleeping crisis. We are looking for further growth and expanding our reach and the range of services we provided.
We are also looking to build our links in Hillingdon now we have settled into our new premises in Harefield and thank the KSIMC of London for their support. We continue to maintain strong links with our friends and supporters in Watford as well.
Finally, I would like to thank all those that have supported us in a way during our growth and in particular the core HoH management team and my fellow trustees for their support.
I look forward to working with our volunteers, the partner charities and further cementing our role as a community charity in Hillingdon in the coming year.
Afzal Pradhan BEM – Chairman
29 October 2024
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HOH Charitable Trust
Trustees' Annual Report
Year ended 31 January 2024
Structure, Governance and Management
HoH Charitable Trust (“HoH”) is a CIO-Foundation charity and was incorporated and registered with the Charity Commission on 18 February 2021. It is governed by a Constitution of a Charitable Incorporated Organisation adopted on 18 February 2021.
The appointment of the Trustees is governed by the Constitution. The Board of Trustees devote their time voluntarily. The Trustees receive information about their role and responsibilities from a range of sources, including the Charity Commission and professional advisors to the Charity. Arrangements are in place for the induction of all newly appointed Trustees who receive a formal induction from the at least on other trustee relating to their role and responsibilities as a trustee, prior to their first meeting.
Conflicts of Interest
Trustees and volunteers are expected to always conduct the objects of the Charity with integrity. A Conflict-of-Interest Policy is in place to ensure that there is no personal gain from the Charity's work. All staff and Trustees must declare their interests in the event of any procurement or spending.
Objectives and activities
HoH’s objects are charitable and are outlined in its governing document as follows:
“The provision of goods services, grants of money and advice for any charitable purpose or purposes connected with or relating to the relief of poverty, need or hardship; the relief of homeless persons who are in need and require assistance in achieving a settled way of life; the preservation of health and the provision of health education; provision of support and services for educational purposes; and other purposes which are charitable according to the laws of England and Wales among the people of the United Kingdom but not exclusively.”
The activities carried out by HoH this year are highlighted in the message of the Chair above.
Public benefit
The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities, summarised below, provide benefits to the local community and beyond.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
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HOH Charitable Trust
Trustees' Annual Report
Year ended 31 January 2024
From the last accounting period until the end of the year, HoH ran 5 key campaigns. These are summarised below by way of background and to showcase our growth:
2023 February Winter Spring Homeless Campaign
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1,200 essential packs provided to the homeless
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12 items per pack
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Partnering with 9 other charities
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15 outreach drives
2023 April Spring Homeless Campaign
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2,000 essential packs provided to the homeless
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Partnering with 32 other charities
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12 items per pack including seasonal shower jackets
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Easter eggs, cupcakes and Eid cards distributed (with personalised messages)
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16 outreach drives
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16 local area distributions
2023 June Summer Homeless Campaign
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1,000 essential packs provided to the homeless
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Partnering with 11 other charities
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14 items per pack including seasonal SPF, lip balms and sun hats
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13 outreach drives
2023 August Back to School Campaign
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1,000 essential packs provided to students (primary and secondary)
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20-24 items per pack including USB reading lights, scientific calculators and stationery
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Working with over 10 partner organisations
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Distributions to over 20 schools
2022 November Homeless Campaign
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2,000 essential packs provided to the homeless
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30-Day Homeless Challenge – 30 consecutive days of distributions
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14 items per pack
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Sleeping bags, blankets and hot water bottles also distributed
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Working with over 30 partner organisations
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16 outreach drives
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16 local area distributions
Charity distribution policies
The trustees have a robust policy of reviewing appeals that are received and/or conducting strong due diligence on our partners to ensure that funds raised are spent on items for those deserving and genuinely in need. We regularly assess the locations we serve at, the charities we work with, the items we distribute and ensure that we are receiving value for money when purchasing items. Where possible we seek to receive donations in kind and/or buying in bulk and storing (e.g. back to school items in Oct/Nov for the next year).
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HOH Charitable Trust
Trustees' Annual Report
Year ended 31 January 2024
Fundraising
As a relatively new charity and one seeking to raise funds in an environment where there is a cost-ofliving crises, the paucity of grants for new charities, we had to immediately focus efforts on establishing a strong fundraising function and a diverse programme of fundraising activity, which has been critical to HoH's ability to achieve its objectives.
The charity does apply for corporate, government, charitable trust and local authority donations and grants as available and appropriate to mitigate where possible the need to call for public donations. This year it has been one of the hardest years to fundraise through large grants and we have been reliant on our partners to help us continue to operate at a high level.
We have been immensely fortunate to have been so well supported by a wide range of incredibly generous and loyal individuals, grant giving trusts and foundations, companies and organisations. Grants, donations and in-kind items have ranged from significant donations towards our core costs and specific projects, programme costs, provision of stock in kind at critical times and support in establishing and running our headquarters.
Each time we commence a project, we are humbled and privileged to get the support needed to meet ever increasing needs and we continue to thank everyone who has donated to us over the last year. We could not operate without you.
We also would flag and thank the efforts of our core fundraising team who continues to come up with innovative fundraising initiatives as well as all those who carried out charitable challenges for us be they: sponsored walks, sponsored non uniform days at school, a charity iftar, an experience homelessness challenge, the hugely successful Quiz Night as well as all other fundraising activities however big or small.
Expenses and Costs Policy
The trustees have a robust expenses policy, and all significant costs must be approved by the trustees. To the extent professional services and other costs need to be incurred for the good running of the charity, the trustees seek to use competitive individuals but ensuring high quality.
Consideration of major risks
The trustees have considered and continue to consider and review the key risks to which the charity is exposed.
The trustees believe the highest uncontrollable operational risk that the charity faces are that the incredible generosity of volunteers and supporters may become overwhelmed or exhausted by the sheer volume of need from those that we seek to support within the UK.
In addition to this ‘normal’ risk, many of our volunteers are faced with competing challenges on their time. We have been lucky that those willing to volunteer has not dropped, there is a risk that with a reduction in volunteering hours offered, consideration may be needed to adjust operations. To mitigate this risk, the trustees continue to seek additional volunteers and donors while demonstrating to existing volunteers and donors how essential and highly valued their contribution is and how it is reaching directly and immediately the people who need it the most.
Fundraising remains a core risk, and we are always finding new ways to raise funds. Without significant funding we would struggle to run services for more than 6 months.
We also have a significant risk that we are now in a paid premises on a relatively short lease. The rent is moderate but if we had to find a new premises with a significant increase in rent and/or a smaller
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HOH Charitable Trust
Trustees' Annual Report
Year ended 31 January 2024
size we would have to find means of covering these costs and an increasing in our core operating costs.
A periodic review is also done on our key policies including safeguarding and the protection of the vulnerable and the trustees look to refresh their policies periodically based on prevailing best practice.
Financial Review
During the year under review the charity showed a surplus of £38,452. As at the balance sheet date the charity held funds of £105,928. As at the balance sheet date, the charity has received the sum of £312,266 (2023 - £318,063) and spent £273,814 (2023 - £273,239) in furthering the objects of the charity.
The details between restricted and unrestricted funds are given in note 12. The trustees consider the state of the charity's affairs to be satisfactory.
In relation to the restricted funds, the charity has already received £15,500 as at the current year end and a further £25,000 were received post year end which were used to purchase a Motor Vehicle (Van) in February 2024 dedicated for the use of the charity's growing activities. These restricted funds have been specifically donated for the purchase and ongoing maintenance of the Van. Further details between restricted and unrestricted funds are given in note 12. The trustees consider the state of the charity's affairs to be satisfactory.
Reserves Policy
HoH’s policy is that informal reserves are to be held at all times to ensure that the charity can operate at a minimum level at all times.
At year end, the charity holds informal unrestricted reserves as at 31 January 2024 in its bank account of £97,353 of which £15,500 is restricted funds (as described above) as of that date with no exceptional known potential liabilities. These restricted funds have been substantially utilised post year to cover expenses and costs associated with the purchase of the Van.
Given that HoH was aware that its operations from a donated premises from Watford were to cease in May 2024, HoH has been building reserves to pay for a new premises and consequently the reserves at the year end reflect the significantly increased property costs that HoH is going to incur in the next financial year.
The charity policy on accumulating any financial reserves are that these are actively maintained only to meet known or predictable future financial obligations for supplementing donations of goods to operate street and charity partner distributions, the purchase of charitable items in advance at favourable rates, expenditure to further charitable growth, and also for rent, insurances, rates and utilities, vehicle maintenance and statutory fees.
HoH attempts to maintain funds to cover such foreseen expenses for up to three to six months in advance.
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.
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HOH Charitable Trust
Trustees' Annual Report
Year ended 31 January 2024
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102)
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Board of Trustees on 29 October 2024 and signed on its behalf by:
Riyaz Husein Dhalla Trustee
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HOH Charitable Trust
Independent Examiner's Report to the Trustees of HOH Charitable Trust
Year ended 31 January 2024
I report to the trustees on my examination of the financial statements of HOH Charitable Trust ('the charity') for the year ended 31 January 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 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 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 the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
Samara & Co Independent Examiner
511 Kenton Lane Harrow Middlesex HA3 JW
29 October 2024
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HOH Charitable Trust
Statement of Financial Activities
Year ended 31 January 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 312,266 | – | 312,266 | 318,063 |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total income | 312,266 | – | 312,266 | 318,063 | |
| ================================ | ============================ | ================================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 5,6 | 273,814 | – | 273,814 | 273,239 |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total expenditure | 273,814 | – | 273,814 | 273,239 | |
| ================================ | ============================ | ================================ | ============================ | ||
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Net income and net movement in | funds | 38,452 | – | 38,452 | 44,824 |
| ================================ | ============================ | ================================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 51,976 | 15,500 | 67,476 | 22,652 | |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total funds carried forward | 90,428 | 15,500 | 105,928 | 64,476 | |
| ================================ | ============================ | ================================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 18 form part of these financial statements.
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HOH Charitable Trust
Statement of Financial Position
31 January 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 9 | 10,150 | 12,180 |
| Cash at bank and in hand | 97,353 | 56,796 | |
| ---------------------------- | ---------------------------- | ||
| 107,503 | 68,976 | ||
| Creditors: amounts falling due within one year | 10 | 1,575 | 1,500 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 105,928 | 67,476 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 105,928 | 67,476 | |
| ---------------------------- | ---------------------------- | ||
| Net assets | 105,928 | 67,476 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Restricted funds | 15,500 | 15,500 | |
| Unrestricted funds | 90,428 | 51,976 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 12 | 105,928 | 67,476 |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 29 October 2024, and are signed on behalf of the board by:
Mr A Pradhan Trustee
The notes on pages 13 to 18 form part of these financial statements.
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HOH Charitable Trust
Statement of Cash Flows
Year ended 31 January 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 38,452 | 44,824 |
| Adjustments for: | ||
| Government grant income | 145 | (3,294) |
| Accrued (income)/expenses | 75 | (29,940) |
| Changes in: | ||
| Trade and other debtors | 2,030 | (7,144) |
| ---------------------------- | ---------------------------- | |
| Cash generated from operations | 40,702 | 4,446 |
| ----------------------- | ---------------------------- | |
| Net cash from operating activities | 40,702 | 4,446 |
| ======================= | ============================ | |
| Cash flows from financing activities | ||
| Government grant income | (145) | 3,294 |
| ----------------------- | ---------------------------- | |
| Net cash from financing activities | (145) | 3,294 |
| ======================= | ============================ | |
| Net increase in cash and cash equivalents | 40,557 | 7,740 |
| Cash and cash equivalents at beginning of year | 56,796 | 49,056 |
| ---------------------------- | ---------------------------- | |
| Cash and cash equivalents at end of year | 97,353 | 56,796 |
| ============================ | ============================ |
The notes on pages 13 to 18 form part of these financial statements.
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HOH Charitable Trust
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 250 Lower High Street, Watford, WD17 2DB.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
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HOH Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 January 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
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HOH Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 January 2024
3. Accounting policies (continued)
Government grants (continued)
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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HOH Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 January 2024
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 226,861 | – | 226,861 |
| Rental Income | 85,550 | – | 85,550 |
| Grants | |||
| Government grant income | (145) | – | (145) |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 312,266 | – | 312,266 | |
| ================================ | ============================ | ================================ |
The income in 2024 above includes services donated as building space.
In relation to the restricted funds, the charity has already received £15, 500 as at the current year end and a further £25,000 were received post year end which were used to purchase a Motor Vehicle (Van) in February 2024 dedicated for the use of the charity's growing activities. These restricted funds have been specifically donated for the purchase and ongoing maintenance of the Van. Further details between restricted and unrestricted funds are given in note 12.
| note 12. | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 221,269 | 15,500 | 236,769 | |
| Rental Income | 78,000 | – | 78,000 | |
| Grants | ||||
| Government grant income | 3,294 | – | 3,294 | |
| ---------------------------- | -------------- | ---------------------------- | ||
| 302,563 | 15,500 | 318,063 | ||
| ============================ | ============== | ============================ | ||
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable Activity | 161,770 | 161,770 | 169,347 | 169,347 |
| Support costs | 112,044 | 112,044 | 103,892 | 103,892 |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | |
| 273,814 | 273,814 | 273,239 | 273,239 | |
| ================================ | ================================ | ============================ | ============================ |
5. Expenditure on charitable activities by fund type
6. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charitable Activity | 161,770 | – | 161,770 | 169,347 |
| Governance costs | – | 112,044 | 112,044 | 103,892 |
| -------------------------------- | -------------------------------- | -------------------------------- | ---------------------------- | |
| 161,770 | 112,044 | 273,814 | 273,239 | |
| ================================ | ================================ | ================================ | ============================ |
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HOH Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 January 2024
7. Staff costs
The total staff costs and employee benefits for the reporting period was NIL (2023 – NIL)
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
Included in the Governance cost is Consultancy fees paid to Mrs A Pradhan, connected to Mr A Pradhan. These expenses were discussed, under the guidelines of Conflict-of-Interest policy, approved by Trustees and has been minuted.
8. Trustee remuneration and expenses
During the year, no Trustees received any remuneration. During the year, no Trustees received any benefits in kind. During the year, no Trustees received any reimbursement of expenses.
9. Debtors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 10,150 | 3,850 |
| Other debtors | – | 8,330 |
| ---------------------------- | ----------------------- | |
| 10,150 | 12,180 | |
| ============================ | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Accruals and deferred income | 1,575 | 1,500 |
| ======================= | ============================ |
10. Creditors: amounts falling due within one year
11. Government grants
| The amounts recognised in the financial statements for government grants are as follows: | The amounts recognised in the financial statements for government grants are as follows: | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | (145) | 3,294 |
| – | – | |
| ======================= | ======================= | |
| Over accrued of Gift Aid in 2023 Accounts |
17
HOH Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 January 2024
12. Analysis of charitable funds Unrestricted funds
| At | At | |||
|---|---|---|---|---|
| 1 February | 31 January | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| General funds | 51,976 | 312,266 | (273,814) | 90,428 |
| ============================ | ================================ | ================================ | ============================ | |
| Unrestricted funds | ||||
| At | ||||
| At 1 February | 31 January | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 22,652 | 302,563 | (273,239) | 51,976 |
| ============================ | ================================ | ================================ | ============================ | |
| Restricted funds | ||||
| At | At | |||
| 1 February | 31 January | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| Restricted Fund | 15,500 | – | – | 15,500 |
| ============== | ============================ | ============== | ============================ |
The income in 2024 above includes services donated as building space.
In relation to the restricted funds, the charity has already received £15,500 as at the current year end and a further £25,000 were received post year end which were used to purchase a Motor Vehicle (Van) in February 2024 dedicated for the use of the charity's growing activities. These restricted funds have been specifically donated for the purchase and ongoing maintenance of the Van. Further details between restricted and unrestricted funds are given in note 12.
Restricted funds
| Restricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At 1 February | 31 January | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| Restricted Fund | – | 15,500 | – | 15,500 |
| ============== | ============================ | ============== | ============================ | |
| 13. Analysis of change in net debt |
| At | At | ||
|---|---|---|---|
| Cash at bank | 1 February | 31 January | |
| and in hand | 2023 | Cash Flow | 2024 |
| £ | £ | £ | |
| 56,796 | 40,557 | 97,353 | |
| ============================ | ================================ | ============================ |
18