CHARITABLE INCORPORATED ORGANISATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 CHARITY COMMISSION NUMBER: 1201881
CREATING HOPE CIO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 CONTENTS Page Reference and Administrative Details Annual Report Independent Examiners Report Statement of Financial Adivrties Balance Sheet Notes to the Accounts 10 11-14
CREATING HOPE CIO REFERENCE AND ADMINISTRATIVE DETAILS Trustees rimothy Croxson Katherine Parsons Anthony Thompson Shemaz Wadia Key Management Personnel Trustees (see above) Rona Fottani- Head of Seniice Andrew Blacktrrtjm - Treasurer Prlnclpal addrnss 1 c Manor Place. Sutton. SM148B Bankers HSBC UK 139A North End Croydon Surrey CRO 1TN Independent Examln•r JCS A¢¢ountants Ltd 5 Rolin Hood Lane Sutton Surrey SM12SW Lagal Status Creating Hope is a registered charty (no. 1201881) govemed by T[t Deed and a CIO. Page 1
CREATING HOPE CIO ANNUAL REPORT The Trustees of the Creating Hope CIO preserrt their secorKI Annual Report and Financial Slatemenls for the year ended 31 December 2024. The accounts are prepared in accordance wrth the Accounting Regulations set out under the Charities Act 2011, and wrth the Charities Statement of Recommended Practice applicable to charities preparing accounts in accordance with FRS102. Structure, governance and management The name of the CIO is Creating Hop8 CIO. It is registered wrth the Charrty Commission (number 1201881). ConstrtutK The property of CreatirvJ is vested in a trust. govemed by a declaration of Trust dated 15 December 2022. The Trustees set the overarching strategic approach and policy framework within which Creating Hope operates and are responsible for managing the affairs of the CIO. The Trustees met 5 limes in 2024. Working closely with the Trustees, the Head of SeNi¢e Rona Forzani ks responsible for the day-to-day operation of the Charity. Appointment and training of Tmst88S There were no changes to the board of Trustees in 2024. Creating Hope has a standard induction and training programme for all new Trustees. This includes meetings wrth members of the current and any outgoing members of the Board of Trustees. New Trustees will also be meeting key volunteers and taking part in visits to leam about the work of the Charity. Trustees are encouraged to take up the opportunty to attend relevant extemal training courses and conferences. Key m8nagementpersonnel The key management Fersonnel of the charity are the Trustees. Ihe Treasurer, Andrew Bla¢kbum, and the Head of Service, Rona ForLani. Since the fomiab'on of the charity in December 2022, the Trustees have worked Closely with Rona to put in place an effective management structure that is fit for purpose for an organization of this scale. The Treasurer attends every Twstees Meeting and is a member of the Finance Sub Committee. The management of the charity Comprises 3 main elements.. (a) Regular Tru•tees mn08 - we held 5 meetings in 2024. The Trustees meetings ensure the Trustees maintain strategic oversight of all asFects of the chanty. All Trustees meetings are attended by all Trustees, the Head of Service and the Treasurer. (b) Three sub committees (that meet terynly) with the following areas of reSnSIbIlitY.. Strategy: the future programming of Servi$, courses and events, plus fund raising, marketing arKI cornmunication bmth our wtential clients and supporters.. Operations.. the recruttment. training & safeguarding of our staff and volunteers and development and review of our polirAes; Finance.. all finanrial operations of the chartty and oversight of relevant policies and practices All the sub committees are chaired by a Trustee and attended by the Head of Service. Thè Treasurer is a member of the Finance Sub Committee.
CREATING HOPE CIO ANNUAL REPORT continued Icl The Head of Ser¥lce is responsible for all asFects of the day-to4ay running of the Charrty and has regular meetings with each of the Trustees. Three Trustees reiVed no renumeration fortheir work as Trustees or volunteers for Creating Hope, apart from the reimbursement of expenses IncUed in the nomal course of the charity's operation. One Trustee is an employee of C3 UnrtedLrfe and is seconded part time to Creating Hope. The Head of Service, who works part time, is also seconded from C3 UnitedLrfe Creating Hope reimburses the cost of these two part time secondees to C3 United Lrfe at a rate equlvant to the rate paKI by C3 UnrtedLrfe directly. Risk management The Trustees believe they a aware of the major risks to which the charity is exposed and that controls are in place to mitigate them. At every Trustee meeting we specrfically consider whether any safeguarding concerns or risks have emerged to the Trust. Our management of risk is further strengthened by the operation of 3 SucommIttee$ which are oudined above. These sub committees report back at every Trustee meeting. The Trustees consider the FYin¢ipal risks and uncertainties facing the charity, and the plans and strategies for managing these risks, to be that over 740A of funding for Creating Hope comes from one sourcE. Our aim, over the coming years, is to increase the diversity and extent of other SoUrS of income. Flnan¢lal revlew Financial health." The income for Ihe Charty for the period up to 31 December 2024 lotalled £75,57112023 £67,275) ofwhich £6,400 (2023.. £8,500) received was given for speafic areas in which the charity operates. Total expenditure in the period totalled £71.510 {2023'. £54.978) leaving a balance carried forward lo reserves of £16.358 {2023'. £12,297) of which £3.747 {2023'. £6.083) is classified as restricted funds. The Trustees continue to be encouraged by the support of a number of churches, charrties and individuals in the local area to achieve this position. Financi81 controls.. We have a comprehensive set of finanoal controls including.. (al an Expenses Form with an approvals protocol linked to the level of expenditure Ib) a single Pety Cash system wrth a delailed record of all expendrture Ic) expendrture controls on all other expenditure with an associated approvals protocol. Statutory and legal compli8nce.' Our focus in 2024 was to complete a full suite of polirAes and procedures which are appropriate for a small scale chanty like Creating Hope in line wth the advice set out by the Charty Commission. The most important development was the completion and introduction of a comwehensive recruitment protocol and set offoms for those wishing to work or volunteerfor Creating Hope. This new recruitment system became fully operational in mid-2024.
CREATING HOPE CIO ANNUAL REPORT continued Objects and a¢livilies The object of the CIO is to provide support services to those facing debt and other lrfe limiting situations. The principal servi$ we offered in 2024 were.. CAP Debt Help- free. 1..1 expert advi to support those in debt to become debt free.. CAP Money Coaching - a free course (in person or online) to help people take contfol of their finan5 with advi on budgeting, saving and spending wisely. CAP Job Club- a short course which provides practical help and the tools needed to help find work,. CAP Life Skills - a short course which provides practical tools to help people live well on a low budget., Drop In - a weekly meets.ng which offers those in need the opportunty to have a nutritious meal and some company" 'ntsugi Hope - runniro a series of Kintsugi Hope courses which are designed to help participants accept themselves, understand their value and worth and grow towards a more resilient and hopeful future,. Counselling.. 1.1 sessions with a fully qualified counsellor to help dients wrth issues such as trauma, anxiety and loss., Emergency Assistance.. using a variety of funding sources to provide for the urgent andlor unaffordable. but essential, needs of some of our dients. All Creating Hope seniic8s courses a open to anyone in need without $triCtion. Public Benefrt Trustees have had regard to Charity Commission guidan on public benefft, set OLrt in section 4 of the Charities Act 2006. and we consider that all our work complies in very tangible ways with the concept of public benefft. Trustees are convinced the work of tts membership fulfils every criteria of public benefit and that significant impact is attained through our direct w(yk and work we support through others. Achievements and perfomian¢e Key highlights of the year indude= Helping 45 dients (and often their families) through the awar&winning CAP Debt Help SeN1 of which 13 becoming debt free during the year. Most of our dients were also supported with gifts and personal needs, in addttion to over 35 existing families known to us. Upskilling 52 clients to cook on a budget and live better on a tight budget through participation in our CAP Lrfe Skills Courses (recently adapted to indude money ¢oachingl running from 2 venues. Through securing a strong referral stream wtth Job Centre Plus in Wallington and Mitcham, we have over doubled attendee capacity at our Job club. running 5 Job Clubs over 2 venues, leading to 40 members participation. All of these have made posrtive 'Steps towards Employment, particularly improving their rnnflden, motivation and employabilty. One attendee is now volunteering at Job club in Wallington, some have found full and P work and others are keenly job seeking. 7 volunteers are now fully trained to deltver CAP Money coaching which is now incorporated into our Life Skills courses and consistenlly promoted at Job club. We have successfully run 5 Money Coaching Courses either in groups or on an individual basis to help people to manage their day-tO- day finanS. The first money coaching course following Job dub was successfully trialled in the Autumn term
CREATING HOPE CIO ANNUAL REPORT continued Providing over 700 hot meals through our Dropln service, which experienced a 17% increase in the number of people attending the sessions over the course of the year. Of 64 inrtial enquiries, 37 people were invited to attend one of 3 Kintsugi courses to improve their mental and physi¢al well-being". 29 people attended with 24 completing the course111 sessions). One attendee trained to deliver the course and 27 people were added to the waiting list for 20251 Setting up 'Coffee and Conversations, as a follow-on from Kintsugi Hope in May 2024 has provided a weScome safe space to build relationships. Securing emergency fijnding to provide grery shopping, fuel topups, appliances such as ovenslmi¢rowaveslwashing machinesfftidgesffteezers arKI fund Debt Relief Orders, amongst other items. for a variety of people in desperate need of assistance. Providing Emergency AKI (for a wide range of purFrf)ses) to 15 beneficiaries from our dedicated Emergency Fund in 2024, totalling £1.601. Boosting the number of volunteers supporting the work of the charity to 36 drawn from 10 churthes across the borough. Undertaking 8 targeted fijndraising events at local churches which raised many thousands of pounds. Successfully applied for local bidslgrants to further our impact in the community and fund a one-year Administrative post to help wtlh the day-to-day running of Creating Hope . We will set out a much more detailed analysis of our activities and achievements in our Annual Impact Report which will be published in time for the Annual General Meeting which is expected to be held in June 2025. Reserves policy The main source of income for the chanty is C3 UnitedLFfe Church. This totaled some 74% of our total income during the year The medium-temi obiectNe of the trustees is to maintain reserves equtvalent lo 250A of the Gharty's annual expenditure. Fundraising We have been very fortunate to have the substantial and continuous financial support of C3 United Lrfe throughout 2024. This support has allowed us an opportunty to focus on building a strong framework of govemance and systems that will provh* the foundation for future grthh of the Charity. AlongsKle this support we have urKlertaken a series of fundraising events principally at loGal churches which have resuhed in donations totaling £9,539 {2023'. £8,096). IrKIivKlual donations totaled £4,406 {2023'. £4.1241, including £200 (2023.. £1,000) for Job Club and £700 {2023.' £1.CM)O) for Dropln. 104e have also secured £5,500 in grants from local funding SoUrS for 5CC use (2023: £nil}. In line with the reporting requirements induded in the Charities Act 2016 the Trustees are pleased to confimi that all fundraising is done in Complian with Best FuThJraisiThJ Practice. Plans for the future Our main priorty for 2025 is to ensure that the full range of services we currently offer continues to be available to help deal with the ever-increasing number of individuals and families who are struggling with debt and poverty and who often fa complex needs. This is a challenging tsrget given that around 950 of our human resources are volunteers who often have a muftiplicity of demands on their time.
CREATING HOPE CIO ANNUAL REPORT continued Particular need is to recruit additional supportfor our Debt Help servi¢e; allowing us to book-in more clients annually. Additional to supporting clients on their joumey OLrt of debt, we aim to build access to ti)ols to help them stay out of debtl We plan to deliver money coathing to all dients after their budget visit. Having integrated money coaching into our Lrfe Skills courses and, by offering it to attendees following job club sessions, we are increasing the number of opportunities to improve people's money management and budgeting skills. We plan to recrutt more money coaches to deliver more courses throughout 2025. We will continue to adapt and tweak our Job Club, Ltfe Sknlls and Kintsugi Hope courses as well as our Drop-ln warm. safe, community Spa to find the best ways to meet the needs of the people we setve. Supporting professionals with good. strong mental health is key to suSsful delivery in their area of expertise. We plan to offer professional Kintsugi Hope courses in 2025 to support collaborative working. We aim to increase our audience and reach by greater adverts'sing of our serViS locally and becoming more integrated into local provision. We will further increase the numt*r of fundraising opportunities we pursue to sustain and increase our overall income and the diversty of income sources.
CREATING HOPE CIO ANNUAL REPORT (continued) Tru8ts0$' rnsponslbllltles The trustees are responsible for preparing the Trustees. Annual RerK)rt and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United lQ'ngdom Generally Accepted Accounting Pryacti). The law applicable to charrlies in England aTKI Wales requires that the trustees must not approve the finanrial statements for each ffinanal year unsS they are satisfied that they give a true and fair view of the state of affairs ofthe charity and ofthe income arKJ experKlrture ofthe chanty forthat period. In weparing these financial statements, the tnjstees are required to". select suliable accounting policies and then apply them consistently: observe the methods and prin¢iples in the Charities SORP.. make judgements and estimates that are reasonable and prudent; stste whether aplCae accounting standards have been followed. 8uW to any material departures disclosed and explained in the financial statements.. and prepare the financial ststements on the going o)ncem basis unths it is inappropriate to presume that the charity wll continue In business The trustees are responsibte for keeping Fyoper accounting reo)rds that disctose with reasonable accuracy at any lime the financial position of the chanty and enable them to ensure that the financial statements Comply with the Charities A¢t 2011, the Charity (Actounts and Reports) Regulations 2008 and the provisions of the twst deed. They are also responsib for sateguarding the assets of the charlty and hence for taking reasOnale steps for the prevention and detection of fraud and other irregularities. FOR AND ON BE1I4LF OF TrIE TRUSTEES Anthony Thompso Chalr of Trustees
CREATING HOPE CIO Independent Examiner's Report to the Trustses of Creating Hope For the year ended 31 December 2024 I report to the charity trustees on my examination of the accounts of Cr8ating Hope (the 'Charity') for the year ended 31 Decemter 2024 set out on pages 9 to 14. Re8pon$lbllltl08 and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act.). I report in respect of my examination of the Charity's accounts as carried out under section 145 of Ihe A and in carrying out my examination I have followed all the applicable Directions given by the Charrty Commission under section 14515)Ibl of the Act. Independent examlnerfs statement I have compleled my examination. I confim that no matters have come to my attention in connection with the examination giving me Cause to believe that in any material r88pect'. 1. accounting records were not kept in respect of the Chanty as required by section 130 of the Act., or 2. the arxount8 do not accord with those records,. or 3. the accounts do not cornply with the applicable reqU1MentS concerning ihe form and content of accounts set out in the Charities (Accounts and Report) Regulations 2008 otherthan any requirement that the a¢counts give a 'true and fair view, which is not a matter considered as part of an indep8nd8nt examination., or 4. the accounts have not been prepared in accordance wrth the methods and principles of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland {FRS 1021. I have no cOnrn$ 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. Miriam Hickson CTA FCA JCS Accountants Ltd 5 Robln Hood Lane Sutton. Surrey SM12SW Lozs
CREATING HOPE CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Income from Donations and grants 69.171 6,400 75,571 58,775 8,500 67,275 Salary Costs CAP Central Costs 40,727 40.727 30.918 30,918 5,160 5,180 8,115 8,115 Room Hire 2,058 5,500 7,558 3,290 1,000 4.290 Operating Expenses Governance Costs 12.393 3,236 15.629 8.318 1,417 9,735 2,436 2.436 1.920 1,920 62,774 8,736 71,510 52,561 2,417 54.978 Net Incomel(expendfture) 6.397 {2,336) 4,061 6,214 6,083 12,297 Net Funds 6,397 12,336) 4,081 6,214 6,083 12.297 Balances brou forward Balances caled forward ht 6,214 6,083 12.297 12,611 3,747 16,358 6,214 6,083 12,297
CREATING HOPE CIO BALANCE SHEET A 1 DECEMBER 20 2024 2023 Curr•nt Assets Debtors Bank balance Cash balance 18,784 93 14,403 82 18,903 14,485 CrltOrS du• wlthln ono yoar: Accruals 2,545 2,188 N•t Curr•nt A88•ts 18,358 12,297 NET ASSEf8 12,297 R• rnmn Unrestricted Funds Rostricted Funds 12,611 6,214 12.297 Approved by the Trustees on date and signed on their behaff by.. Anthony Thompson Chaimian 10
CREATING HOPE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.Accountlng pollcies The charity is a CIO, limrted by guarantee, registered in England and Wales. The registered office is 1 c Manor Place, Sutton. Surrey SM14BB Thè principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows". al Basis of preparation The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have b*n prepared in accordance with the Charities Act 2011, Charities Statement of Recommended Pra'Ce (Chants'es SORP (FRS 102)) and Finanaal Reporting Standard 102 {FRS 102). The Charity meets the definition of a puLlTrc benefft entty under FRS 102. The a¢xounts are prepared in pounds sterling rounded to the nearest pound. b) Going Concern The trustees consider that there are no material Unrtain'eS about the Charity's abilty to continue as a going Concem. c) Fund Accounting The funds held by the Gharity are either. Restricted funds- defined as those used for specified purposes laKI down by the donor, or where an appeal limits the use of the funds. Unrestricted funds - representing donations and other incomes recerved for any of the purposes of the charity and are available for use. d) Income Donations and other income {induding legacies) are induded in the Statement of Financial Activities (SOFA) when the charty has entitlement to the income, it is wobable the in¢ome will be received and the amount of income receivable can reliably measured. e) Expenditure All expenditure is accrued as soon as a liabilty is considered probable. discounted to present value for longer temi liabilities and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and servi$ for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to supwrt them. Govemance costs are those costs associated with meeting the constitutional and statLrtory requirements of the charity and include accountants. fees and costs linked to the strategic management of the charity. These have been allocated directly to chantabbe exFerKliture.
CREATING HOPE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued fj Cash at bank and in hand Cash at bank and in hand indudes cash and short tem highly liquid investrnents with a short maturrty of three months or less from the date of the opening of the deposit. g) Creditors and provlsions Creditors and wovisions are recognised Whe the dwrity has a present obligation arising from a pasl event that 11 probably resuM in the transfer of funds to a third party and the amount due to settle the obligation can bè measured or estimated reliably. Creditors are recognised at their settlement amount. h) Financial instruments The Gharity only has financial assets and liabilities of a nd that qualfy as basic financial instruments. Basic financial instrurnents are initially recognised at transaclion value and subsequently measured at their settlement value. 2. Charges Invoi¢ed by C3 UnitedLife Church Included within Donations and Expenditure are invoios from C3 UnitedLife Church as follows.. 2024 2023 a) Share of salary costs £40,727 b) Payments to CAP Central for seplices in the riod £ 5,160 c} Room hire rental costs for the period £ 5,570 d) Other operating expenditure £30,918 £8,115 £ 2,712 Total invold by C3 UnitedLife £55812 £48 965 See related party transactions note 5 below. 3. Gfft Aid The Charity was advised on 15th Dernber 2023 by HM Revenue & Customs that its application for recognrtion as a chanty for tax purposes had treen accepted, and was therefore able to submit claims for Gift Aid. Gift aid was daimed for the period up to 31 October 2024 totalling £314. No provision was made in these accounts at 31 December 2024 for grft aid recoverable on the basis of the sum being immaterial. 4. Remuneration and Expenses None of the trustees or Offi5 of the charity r1ved any direct remuneration from the Gharity. 12
CREATING HOPE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued S. Related party transactions Mr Timothy Croxson acts as a trustee and senior leader of C3 UnitedLife Church. Mrs Katherine Parsons, one of the trustees, is also employed by C3 UnrtedLrfe Church. £1,859 expenses were reimbursed to three trustees (2023.. £nil). The ¢harrty received a donation of £6,500 in 2023 from the Milk and Honey Trust. where Mr. Timothy Croxson is a trustee. Donations received from trustees in the year totalled £120 (2023.. £50) C3 UniledLrfe Church have waived their right to payment of the invoiced charges in note 2. Consequently an equal and opposite sum is included within unrestricted income as donation8. 6.Indopondant Examlners Fee The fees charged by the Independent examiner accrued in these financial statements totalled £1,680 plus VAT. 7. Rwdtrlcted Funds Grant Income 2024 Drop Emergency Job Club Life Skills Fundin Total Income received 700 200 5,500 6,400 Exp8nditure in year Balance carrlod forward at 31 Decembor 2023 Balance carried forward at 31 December 2024 1700) 11,602) {434) 1500) (5,500) (8,7361 5,349 234 500 6,083 3,747 3,747 2023 Drop In Emergency Fundin Job Club Life Skills Total Income received 1.000 6,000 1,000 500 8,500 Expenditure in year Balance carried forward at 31 December 2023 (1,000) (651) {766) (2,417) 5,349 234 500 6,083 13
CREATING HOPE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued 7. Restrlcted Funds (continued) Donations for specified purposes indude the following.. Drop In - This is a weekly meeting which offers those in need th8 Opportunity to have a nutritious meal and som8 company. Emergency Fundlng These are funds provided to clients of the charity facing severe and urgent financial challenges. Job Club - This is a short course which provides Practical help and the tools needed to help find work. Life Ski118 - This is a short course which provides practical tools to help people live well on a low budget. Grant Income- £5,000 was received from Sutton Community Fund towards the operational costs of the charity. Additionally £500 was received from Ihe same source in respect of an NHS Winter Engagement Fund. Both grants were accounted for in the year. 8. Analy•l8 of net a88ets by fund 2024 Unrestricted Restricted Total Current A888t8 Current Liabilities Net assets 15,156 2,545 3,747 18,903 2,545 2023 Unrestricted Restricted Total Current Assets Current Liabilities Nel assets 8,402 2,188 6,083 14,485 2.188 14