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2024-10-31-accounts

HOPE INTO ACTION BROMLEY

Charitable Incorporated Organisation Number 1200920

Financial Statements

For the year ended 31[st] October 2024

CONTENT

HOPE INTO ACTION BROMLEY

LEGAL AND ADMINISTRATIVE INFORMATION ACCOUNT FOR THE YEAR 31[ST] OCTOBER 2024

CIO Number 1200920
Registered address Jubilee Church
157 Southlands Road
Bromley
BR2 9QZ
Trustees Paul Flynn
James Harrat
Derek Holl
Jonathan McGill
Nigel Poole
Angela Short
Stephen Spencer
Rachel Winn
Bankers Metro Bank
73-76 High Street
Bromley
BR1 1EG
Independent Examiner T Huxtable
11 Stanhope Grove
Beckenham
BR3 3JB

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HOPE INTO ACTION BROMLEY

REPORT OF THE DIRECTORS/TRUSTEES FOR THE YEAR ENDED 31[ST] OCTOBER 2024

The trustees are pleased to present our second report together with the financial statements of the charity for the year ended 31st October 2024.

Objectives and activities

The listed objects of the CIO are

  1. The relief of sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of accommodation in the London Borough of Bromley and the surrounding area.

  2. The advancement of the Christian faith within the London Borough of Bromley and elsewhere as the Trustees of the CIO may from time to time think fit.

These are primarily achieved through the provision of supported housing in the London Borough of Bromley to those who are homeless or insecurely housed.

Structure and Governance

Hope into Action Bromley CIO is structured as a charitable incorporated organisation (CIO), governed by a constitution. The Trustees have overall control and responsibility for policy and major decision making and, as of 31st October 2024, there were eight trustees, appointed based on their expertise and commitment to the organisation’s goals. During the year two of the trustees reached the end of their tenure and were subsequently reappointed for a further three years. The Trustees hold the authority to appoint or remove other Trustees and any new trustees will be selected on the basis of the skills, knowledge and experience required for the role and who also have the acknowledged support of the leadership of the Christian or Church community from which they come.

The trustees met four times over the course of the reporting period. They also connect informally through the means of regular electronic communications, such as email. During this reporting period CIO had the support of volunteers forming the friendship and support group, which was overseen by trustees. There were no employees of the CIO during this period.

Public benefit

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.

Achievements and performance

Working in conjunction with local churches, Hope into Action Bromley provides supported housing in the London Borough of Bromley to those who are homeless or insecurely housed. It enables

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churches to use their resources in partnership with the charity to provide shared housing of a high standard, and friendship, support, advocacy and advice to vulnerable adults in the community. The charity's model is to use investment resources to rent or buy a property, suitable for a number of tenants. Each tenant has their own room and use of a communal lounge, kitchen and bathroom. The house is linked to a local church that provides a positive community, friendship, mentoring and support alongside a support and friendship group drawn more widely from churches in the area. In doing so the immediate practical needs of the tenant are met and alongside the help needed to address the underlying causes which led to them being in poverty. The positive framework of relationship through the church's friendship and support team plays a significant role in helping tenants to move forward in life.

Our second year has been extremely fruitful. Our first property continues to be occupied – in the year ahead the support our tenant receives will be greatly enhanced by the employment of an empowerment worker to offer dedicated support on their housing journey, due to start soon into the new financial year. Our organisation has been strengthened by the appointment of a voluntary treasurer to oversee finances, improving the resilience and effectiveness of Hope into Action Bromley. This in turn has been recognised by investment from the Hale Family Charitable Trust (1140178) who have purchased a property for Hope into Action Bromley to use to house two tenants in the borough. During this reporting period work is undergoing to make the property ready, and we are looking forward to supporting two new tenants during our next financial year.

Once again, the effort undertaken by the trustees and volunteers of Hope into Action Bromley must be recognised in making all of this possible, alongside the generous support of churches across the borough of Bromley.

Financial Performance

Our accounts and the independent examiners report can be found further down this report. In summary our financial performance was

Income

Our total income for the year was £20,095 which includes:

Expenditure

Our total expenditure for the year was £16,845 which included:

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Financial Position

As of 31st October 2024, Bromley Hope into Action CIO had cash assets of £24,136. We have been fortunate with the level of donations received and with not yet being liable for rent on the property we use. This will change in the following year and the trustees are mindful of the future financial challenges expanding the work of the charity.

Reserves Policy

The trustees have determined that the charity should aim to hold unrestricted cash of no less than 2-3 months of unrestricted expenditure. This is to enable the charity to be able to continue to operate should income and/or expenditure vary adversely. In practice this equates to no less than £666 and at the year end the charity held unrestricted cash of £24,136, therefore it is complying with its reserves policy.

Responsibilities of trustees

Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.

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

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

Looking Ahead

As we look to the future, Bromley Hope into Action CIO remains committed to expanding our impact and reaching more individuals in need. Our key priorities for the coming year include:

Conclusion

We are immensely grateful for the support of our donors, volunteers, and partners, without whom our work would not be possible. Bromley Hope into Action CIO will continue to strive towards our mission and make a lasting difference in the lives of those we serve.

Approved by the trustees on 14[th] May 2025 and signed on their behalf by

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Derek Holl Chair of Trustees

James Harratt

Trustee

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

HOPE ACTION BROMLEY

I report on the accounts of the company for the year ended 31[st] October which are set out on pages 4 to 7.

Respective responsibilities of trustees and examiner

The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for the year under section 144(2) of the Charities Act 2011 (the Act 2011) and that am independent examination is needed.

Having satisfied myself that the charity is not subject under company law and is eligible for independent examination, it is my responsibility to:

Examine the accounts under section 145 of the 2011 Act:

to follow the procedures laid down in the general Directions given by the Charities Commission under section 145(5)(b) of the 2011 Act; and

to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general directions given by the Charities Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with the records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning such matters. The procedure undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view of the report is limited to those matters set out in the statement below.

Independent Examiner’s Report

In connection with my examination, no matter has come to my attention:

T.L. Huxtable FCCA Date: 3/2/2025 11 Stanhope Grove Beckenham Kent BR3 3JB

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HOPE INTO ACTION BROMLEY

CIO Number 1200920

Balance sheet at 31[st] October 2024

2024 2023
£ £
Current Assets
Debtors
Cash in bank and in hand 24136 20886
Current Liabilites
Creditors due within one year
Net Current Assets 24136 20886
Unrestricted 24136 20886
General Fund unrestricted 24136 20886

For the year ended 31[st] October, the company was entitled to exemption form audit under section 477(2) of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The accounts were approved by the board on 14[th] May 2025 and signed on its behalf by:

Derek Holl Chair of Trustee

James Harratt Trustee

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HOPE INTO ACTION BROMLEY

CIO Number 1200920

Statement Financial Activities Income and Expenditure Account for Year Ending 31[st] October 2024

Income 2024 2023
One Of Gif 9486
Rent 11515 4475
Donatons 3798 1756
Church 4657 8554
Refund of Bank Fees 125 510
Sundries
Total Income 20095 24781
Expenditure
Insurance 1201 1217
Thirty-One 8 182 222
Fees 870 315
Landlord Payment 10500
Maintenance 982 349
Phones 160
Repairs 690
Fire Dectector 34
Council Tax 2256 751
Water 535
Bank Charge 284 19
Sundries 35 137
Total Expenditure 16845 3895
Net(outgoing) / incoming resources for the year 3250 20886
General Balance brought forward at 1stNovember 2023 20886
General Balance carried forward 1stNovember 2024 24136 20886

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

All incoming resources and resources expended derive from continued activities and are in respect of unrestricted funds.

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HOPE INTO ACTION BROMLEY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] OCTOBER 2024

1.ACCOUNTING POLICIES

a. Basis of Accounting

The financial statements have been prepared under the historical cost convention and the Statement of Recommeded Practice: Accounting and Reporting by Charities issued in March 2025.

b. Incoming resources

All incoming resources are included when received.

2.TRUSTEES EXPENSES

No remuneration is paid to the trustees and directors for their services.

3.MEMBERS GUARANTEES

The number of members at the balance sheet date was 8 ant their liability to contribute to the assets, in the event of the company being wound up, is a maximum of £1 each.

4.CONTROLLING PARTY

For the whole period, the company was under the control of directors, all of whom are also the Trustees of the Charity.

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