REGISTeReD CHARITY NUMBER.. 244669
Re￿rt of thg Trust••s and
Fin*nclal Statements forth& Y￿r End•d 31¥t Ilarch 2024
for
The Hopmarknt Charlty
Thg Rlchards San(ty P8rtneTship
Thorneloe House
25 Baibourne Road
Worcsster
Worce6tershi
WRI 1RU

Tho HoFxnark•t Charfty
Contsnts of the Financl818tat•monts
tor tho Year Ended 31¥t March 2024
Pau$
R•port ofthe T￿￿tte5
Independent E￿MInerf8 Rgport
statem•nt ol Flnancial Actlvltle
Balancg Shoet
Nots$ to the Flnanclal Ststements
8 to 14
Detailed Ststement of Flnanelal Athitie8
15

The Hopmarketcharity
R•portof th• Tru8tee•
for thè Year Endod 31gt March 2024
The trustee5 present thelr report with the financlal 8t8teThnts of the charlly for lh• year ended 31st March 2024. Thè
Irustees have adopted tho provlsions ol Accounting BNI Reporting by Charities.. St8t8rnent of Recomrnended Praclic*
applicable lo charit￿s prepariTra their ¥¢tounts In accordance wrfh the Flnancl81 Reportlng Slandard op￿iCable In th8 UK
and Republic of Ireland IFRS 102) leffectlve 1 January 20191.
OBJECTIVES ANDACTIVITIES
ObJgCt5v•8 and alrns
The tharty has been set up to bengfrt'needy persons" In Ihe cty ofWQr￿f9r. Needy p￿n5' means p8rson$ vjho
r•a8on of poverty, 8l¢knoss or Inffirmily whethèr young or okl ara in need of fin8nclal a$sigtance, care or ott¢ntlon.'Neety
persons In the dty ofWoKeslel' are persons wh08e ne8d ar￿￿6 In the dty, whother or not they P8rmanently res&Je the￿.
In accord$n¢¢ wlth Charlty Ccffirnis8lon guidance. the tN8tee$ ragard people suffèring from povgrty as includlng per80r
who do not have the re$ourc&8 lo provide for themselves, eitheron a short ot 8 iong-tsrm basls, wlth the fiomial Ihlngs of
lrftwhleh M¢￿ people take for gr8nlèd. The trusteé$ glm to add￿sS bolh thè causes and ihe ¢onsequences ol poverty by
all￿￿11￿9 grants to assi6twith both the preventlon and religf of povety. In yiew of Ihe1Smiled resour¢o$ of the charity, the
trustees take the viow that the object8 of th& charty bg8t bè luifilled by supportirrfJ other organisatlons byhSch have
b88n &stablished for purposes wlthln the charity's objects. rather than dgvotlng the iesour¢e8 of lh8 charity lo the support
of a limhed number of Sndlvldu81¥.
SlgnSftcant acflvltle6
The Charlty owns a building known as the Hopmarkel complex Iformorfy The Hop Math•t Hold) In Foregats Street.
Worce8ter, together with annexed pfftmisÉs at 13, 14, 16 and 18 The Foregate, Worcester. The compl•x ¢￿tr￿)￿se$ a
number ol retail ¥wth reshJential accornTnodalion thve,
Th& Income from18aslng th8 pr8mls8s of the Charity 1$ on trust lo applylh• samg for th8 benerrt of ￿e￿V per8on¥ In
the iity. Neèdy persons are defined in the Act as person$ who by re￿On of po¥8rty, slckne8s or infimity Whet￿￿T youTha
or old are In nged of financlal ass18tance. atienuon.
flats abov& the reiall unlts ar8 leased to Platlorm Houslng Group. Ahhtsugh no rent IJ payable. Platfomi Hou81ng Group
bears 75% ofthe cost ofthe 8nd maintenarKe tg tho bulldSng.
Publlc benefit
The ttu¥le9s ￿ThfirM Ihal they hav• coMp￿ed with th8 duty In section 17151 ofthe 2011 Charili05 A¢t to have due regord
lo guidance Iss￿1 by Ihe Charity CommlssSon on PLi)lic bgngfftwhen dec4din9 on Ihe charitls attMlle$.
ACHIEVEMENT AND PERFORMANCE
Property Managom•nt
In January 2023 the Trustees appointed GJS Dlllon to succeed Fisher German LLP for an inibai temi of 3 ye8T8 wilh the
pli¢n lo roll on. The contrad wmmenced with 8ffadfrom 1stApril 2023. The Truste85 receThfed regular reports fiotn GJS
Dillon Ènd their repTesenlativ85 atlend meetings of Ihg TNstees Board to prasent thetr rwrt artd anS￿r questions. The
reportB includè Inf0M)a￿On on188sès. maintenance. servl¢e d)arge8 and 9eneral man8gem9nl bsuss. The Trustees have
agreed that the comm8r(481 units should bg gbte tts open on Sundays.
A thmprehenslve co[￿￿10n $urvey ofthe Hopmarkgl building ¥va6 complstad by GDS Dillon and presented tolhg T￿￿￿S
Board In March 2024.
Platfomi Housing Group
Following re￿ip10f Ihedetailed Bullding Rèporlfrtsm GJS Dillon, a numberof online meating5were held befvTrenTnTrslees.
Officers and senhJT staff from Plalfomi Houslng Group durfng the year to di5wss varfous m8tt8rs. In March 2024 a report
wa$ presellted to the Twstees 8oard by thtr Chair, together with one by Plafform Houslng Group. This ¥et out the posllbn
regaTding the condltion of the Hopmsrkol building. Thls logglh8r wilh potential cost of repairs and addiUonÈl work was
evaluate(l. In short, il Is a huge PToje¢¢, which wlll require significant Investment. This m8lterwll be a key priorbty for bolh
tho Clty Councll and ts Trugtees over Ihe nexl 12 months.
Legal 1$6U••
The Trustees recelve Bthice from Clty Councll Offlcers on 8 range ofoover￿nc9 and legal188ue8.
The Trustees were asked to eonstder Ih818sue of bad debts and the 8xl•nt to whith t￿#& arè purnued. One ¢ommerdal
unit w85 vacated during thé yèar wlth 6ignifiGant Tènt arrears. The Trust868 were advlsed Ih?I thet• vras no Te8sonab18
wospect of ￿￿Very and regreltBbty conduded that these arrears should net ￿ pursued.
Pagg 1

Tho Hoprnark•t Charity
R•port of the Trustees
for the Ygar Ended 318t Mar¢h 2024
ACHIEVEMEwf AND PERFORMANCE Icontlnugdl
Hopmarket Promovon and Income Generation
The TNslee8 r￿e1ve regular reports on v8rlous mattels illL4udedv15ual app￿rance, ernpty unlts, marketing and pro￿￿11
and advltles.
The Twslee5 werè advised In November 2023 Ihal follo%￿ng a slafl dgparture, 11 vill not be feaS1b￿ for Ihe Coundf$
Economk Development team to continue supporting the Hopmarket Charlty- The Trustees consldered a proposal to haml
Ihe majority of work to Kabble Langford. to manage PR Ipublidly thTOUgh social media and the p￿Sts. The Twstees
agrged the proposed tssks io btr trans(erred io K8bbie Langford. There ￿ an addilltsnal cost lo the Cherlty. A lormal
8greemvnlwilh KBbble LangfoTd ha8 been stgnod bulls an athllllonal co8t to the Chtrily
Appll¢Atlon8 for Grant Ald
The fin8naal frJre¢a&l Show￿ an Imwoved rJ)sllion (x)mpared to prgvious year5. The Ir&4ing surplus (exdudSng bss
on rovaluatlon of Inv6stmenl property) shgwed a significant improvement from 2cr22123. However the Charily Is fa￿[
wilh IArge propety repalr bills In the rlexl fN8 years, tte Trea$urtr recommend9d that no gran15 are ￿ld oul in 2024125
and the surplus is Instead r?tain•d to CL)ver the repair costs. Consideratlon will be glven to resuming grafit payments once
the f￿1 cost of the r8pair8 b8 known. The Trusta8s ￿read Ihal no grants should be madg lor 2024r25 for Ihe reaso
outlined above.
FINANCIAL REVIEW
Financlal position
The Flnandal rethiwas carr(èd Fobwary 2024 lor2023124 and w88 based on Ih8cuFrent y8ar-Io-dale actuals and
the foTecaJts of Itrfure cos16 8nd I￿Ome. The level tsf In¢0￿ was forecast to b8 slighlty morè than budgeted due to mo
occupied urdts. The management and admlnlstralK•n rosl$ were foreGa811o be less than budgeted, nwinly due less
managomeni fees, The ltsrecasl did indude a ¢onlingerKy of £5L Th• premises expendllure was foTec8stlo be more than
budgeted due to higherthsn twdgeted premise8 vold Luts and addhlonal rnalor rep8k8 costs.
The overall surphJ6at31 M*rth2024wa6 £8.* (excluding reval(Mtlon lossos}. The Finana81 forècastshowedan Improved
poslllon comparo4 to prevlous year8 howevèr the Charity Is fA¢ed with a large property repair b￿7. It w86 T￿Or￿M9nd&d
Ih8l no gran16 are paid out In 2024r25 and Ihg surplus Is Instead rgtained to cover repaircosts.
Th8 Repairs Fund at 31 Marth 2024 VAS loreca611o than trrtJdgat8d due to additional maior repaws eosts to be
covered by the Chath during 2023124.
There was a balanc4 of £q3.2K on Ihe Dwetopment Fund reserv& brought forward from 2022r23. A budget of £9k was
required for 2024125.
Reserves pollcy
The Charty hosds genorol unrestrtcied funds Iwhid) exdudes amgunts held in de8•Jn8ted funds) of £80.92812023 -
£49,436) to ongotng èxpendfture If there is 8 fulure drop in rental income r￿1Ved by the Charlty.
Deta118 regardlng d8stgnated fvnds by th& Charfty can bg found In note 13 of Ihe I￿￿$ to the financial ststemnts.
Golng eoncem
See note I regarding an exk8ting urK&tslnly swtoundlng the golng concern of the charlly.
P8ge 2

The HOprna￿ Ch•rlty
Report of th& Trust•e$
for the Year End¢d 31st March 2024
STRUCTURE, GOVERNANCE AND MANAGE1￿NT
Governlng dtxument
The Hopmathet Ss a Charfty eslablishgd urKl&r Act of ParflamenL Its ojrrnnt Goveining Aet is the Worcester Cty CoutKII
Ad 19B5.
Rècrttitmènt and appolntment of n8w trustees
The Chafily is govèrned by a Board of Tru81o9s. The Board ha$ al le8Èt 6. but not mor8 than 7 Worcester Cty Counclllors
and at lea812, but no more than 3 IndependenlTrusl88s. The Clly CowKllorTwst8es ere appointed annualWln May. The
Independent Tru61ees are appointed fora period of up to four years.
The followro Worcester Cty Councilbrs were Truitèss Appointed by the Councll forthe period ￿￿red by r8POrt:
(was an independent Irustse between 23 May 2023 and 21 May 20241
(apPo￿ted 6 February 2024 & r98igned 21 May 2024)
(appowrted 23 May 20231
{iesigned 23 May 20231
(reBlgned 23 May 20231
(beGame an indep8ndent tnJslee on 21 M8y 2024)
{￿signad 21 May 2024)
{res1gned 23 May 20231
(appoknled 23 May 2023 a resigned 21 May 20241
{8ppoknted 23 May 2023 & resigned 21 May 20241
The fdlowing IndependentTru8tees were Twstees app05nt￿ by th8 Council fort*e perlod ¢o¥•rad by Ihis ￿pOrt.
Iwas a Coundllor trustae Èefore 23 May 2023 and after 21 May 20241
Iwa8 a Counc411or trustso 21 May 2024)
Counullor Jenny Bames
Coundllor Katqe Collier
Coundllor Lynn Denh8m
CounLyllor Allah Dltta
Counc411or Nidg Ha$6Bn
Coundllor Stephen Hodgson
Coundllor Karen Lewing
Councillor Chris Mitch811
Coun¢illor Elena Round
CounclltorJames Stsnl
Jenny Bame8
Jo Hodges
stephen Hodgson
Bill Sirnp$on
The Chair tsfthe Twslees forthe peiiod was Mr Bll Slryon with Jenny Bame6 88 Wce.Chair.
The Trustees Board ￿￿tth￿l￿eS duriNJthe perbd ¢ovorad by thls report, In S¢plgmt*r and Novernber2023 and Marth
2024.
Oryanlsatlonal 8truciur•
The Char*ty is adrnlnl8lergd by ￿rceSter Clly Coun¢ll from th8 Guldhall, Hkgh StrEa( wOr￿Ster. The CourKII'g Head of
Finance acts as the TreaSU￿r of the Chaiity and legal support is provfded by the Council's Legal Ser¥Kes team.
Tr￿le* remunoratlon
The Trustee8 re¢eiv$d no remuneratlon dudng 2023r24 and Ihere were rn r¥lated party transaction8.
REFERENCE AND ADMINISTRATIVE DET￿Ls
R•gistered Charlty numbor
244569
Prlnclpal addr•
GuilLlhall
Wtsrcester
Worcestershwe
WR12EY
Tru¥teeg
Currènt Clty Ccun¢illorTnffjt•o5
Counc411or Jenny Barnes
Counc411or Lynn Denham
Counclllor Karen Hol￿￿5
Coundllor Jessie Jagg8T
CouncillorAdam Sts)11
Counullor Louls Stephon
VKe-Chaimia)
IndepÈndént trustee between 23 May 2023 and 21 May 2024
Appolnted 23 May 2023
Appolnted 21 May 2024
Appointed 21 May 2024
Appointed 21 May 2024
Appolnted 30 Juty 2024
Page 3

Th¢ Hopmart(et Gh#rNy
Reportofthe Trustees
for tho Year Ended 31st Wknrch 2024
REFERENCE AMD AOMINISTRATIVE DETAILS Icontinuèdl
Fomer Clty Gounclllor Truststss
Councillor Katia Colller
Coun¢illorAlzh Ditta
Councillor Nlda H8$$8n
Councillor Slephen Hodgson
cOur￿lI10r Karan L￿ng
Cournillor ChTi8 Mllthell
Coumllor Elena Round
Coumllor Jam$ S￿leY
R85igned 21 Klay 2024
Resigned 23 M8y 20tJ
Resigned 23 May 2023
Independent Imste& after 21 May 2024
Resigned 21 May 2024
Resigngd 23 May 2023
Appointed 23 May 2023 8nd r&8Sgned 21 May 2024
AppoIn￿l 23 May 2023 and Tesigned 21 May 2024
Current IndependentTn
Joseph￿& Hodg8S
Stephen Hodg80n
Blll Sirr¢)son
CouneAllor trvslee until 21 May 2024
Cheirman
Formor Independent TrtHtse#
Jenny Bames
Vic&Chalmwn
Cotsndllor tfU5tee b¢f¢re 23 May 2023 and after21 May 2024
Ind•pond•nt Examln•r
Th¢ Rlehards SBndy Part￿rShIp
ThornekJÉ HtYJS8
25 8arlxwme Road
Worcesle¥
Worctrstershlre
WRI 1RU
Tr•agurer
Cathy Davles
Interirn Head of Flnance
Worwter Cily Councll
The G￿ldha
High Street
Woroster
WoTce$t¢rshlrn
12EY
Administratorg
WOr￿￿T Clty Col￿1
The Gulldhall
Hkjh Street
rcester
Worcg51grshlra
R12EY
Inve6th)ent propgrty managgrs
GJS LXlk)n Limhed
7 Roman Way Buskng5$ ¢antt•
Drtsilwlch
Worcost8rshke
WR9 9AJ
Approved by 0￿er oftho b￿r￿ of Iruslees on. ..
..A<8TrJ 8lgned on its behall by.
n.Tm
Page 4

Indepèndènt Examlntrf8 R9POrtto th• Trust￿ of
The Hopm?rket Char
Indewndont¢xamlnBrfs report to thg tfustees ofThe Hopmarket Charlty
I report to the ¢hèrftylru8tees on my examinalon of thg aiuunl¥ ofTh& Hopmarket Charity Uhe Tru81) for th8 yearended
31$1 March 2024.
Rg$ponBlblllll8s and bas5$ of roport
As the charity tru8tees of the Tru8t you are respon5ts1& for the preparath)n of tho a¢c￿jnts In accordance with the
requirèmènts of the Charities Acl 2011 Ohe Acn.
I report in r8sFect of my exarninallon of Ihe TrU8t￿ aciyJunts caf¥led Dut under Section 145 of the Act and in ¢8rying C
my 8x&mlnalkn I have fdltrded all applicablt Dir•ctions gwen tythe Chaiity Comm188lon under Secli)n 14515)Ibl ollha
Act.
IndependentfjX4mlnees gt&tement
I havo cornpleted my examlftatlon. I confirrn that no material matt¢rs have corng to my attention In conneclion wlth the
examinati￿ 9￿Ing me (au88 to believe that In any malarial r6spect'.
aocountlrsg records were ml kept #i r¢$p¢ct of the Trust as required by Secllon 130 of the Act.. or
IhÈ acci)unts do not accord with those records., or
the accotsnts do not comply with lh8 appliGable r8quiraments conc8rning the forrn and conlent of accounts set out
in the Charikn'e5 IALtounts and Reports) Regulations 2008 tstherthan any requi￿rnenttha1 th6 a￿Unts a true
and fa[r￿eW which i¥ n¢A o matier ¢on$lderad as part of on Independent 8xamlnAflon.
I have ¢)0 concerns and have CO￿ 8cross no other rnattÈTS in connection wrth the examinalon to whlch altsnlion shoukl
be drnwn in thi& TerKrt h orderlo enable a prowr understsndlrtg ollhE accounts to be reached.
Mdissa Jean Go(kn ACAACCA
The RIGhards Sandy Portnarshlp
Thom910è House
25 BarbDurne Road
Worcester
Worceslershlrg
WRI 1RU
3L...ai...a.............
P8go 5

Thg Hopmarket Charfty
Stat•m•nt of Flnanclal Actlvitlos
for thp Y8ar Ended 31st March 20
2024
2023
D&vebpment
deslgnated
fund
Rqxl
deslgnBted
fund
Unrestricted
fullds
Total
funds
Toial
lunds
Not8S
INCOME AND ENDOWMENTS FROM
Inv85trmnl Income
196 186
198 186
EXPENDITURE ON
Raising funds
125,593
125,593
91.857
Charftable actlvitiO$
Grants issue
Support cos15
42.279
42,279
59,605
Total
187
187
180 168
NetI￿See5 on investments
870 000
NET INCOMEIIEXPENDITUREI
(861,081)
1861,0811
131.S85)
Tran61ern btriween furtds
13
N•t movement In I￿￿8
{858￿10)
14,2391
1,668
1861,061}
131,6851
RECONCILIATION OF FUNDS
Totgl funds broughtfoNaYd
1,219.438
13,239
92.567
1,325.242
1,35fj.807
TOTAL FUNDS CARRIED FORWARD
360 926
9 000 ￿235
464 161 ￿42
The noles fom) part ofthese finanaal stslements
Pbge 8

The Hopmarket Chirlty
Balance Shoot
318t r¥iar¢h 2024
2024
2￿23
Devekjpment
deslgnated
fijnd
Repalrs
d85ignated
fund
Unrastricted
funds
Total
fundo
Total
lunds
Nolos
FIXED ASSETS
Investment property
300,000
300.000
1,170,000
CURRENT ASSETS
Debtors
Cash at bank
10
33.608
144.115
33,606
103.%4
177.721
9,000
94235
280.9156
280202
CREDITORS
knounls falllng due wlthin onè
y8ar
11
1116.7961
{116.795}
1103,9111
NET CURRENT ASSETS
156291
TOTAL ASSETS LESS
CURRENT LIABIUTIES
360,926
9,000
94,235
484.161
1.326,291
CREDITORS
Amgunts f8lllng due after rn
Ihan 000 yw
12
{1,0491
NET ASSETS
464 161
1,325 242
FUNDS
Unrestricted fund¥'.
Ge￿ra1 unrestrtdèd fund$
Capital reserve fund
Oevelopm8nt fund
Repalrs fund
13
60.926
300,000
9,000
94
49,436
1,170.000
13,239
TOTAL FUNDS
1325 242
Thefinanclal st4témÈnts weTe approved by the Board ofTrusle¥¥ and authodBed for i85U8 on...-il&l....Trnw.(y..11.,......
and w8Y8 slgned on its behalf by..
The nofes fom) part ol Ihe8e fin8nd81 statement8
Page 7

Thè HopmArk•t ChArity
No*•s to the FingncTral 5tstements
for tho Y¢4r Ended 31st March 2024
ACCOUNTING POLICIES
ASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial ststèmeAts of Ihe charfly, which is 8 publlc beneffl entity under FRS 1￿2, have been prepared in
aceordancfj wlth Ihe Charitie$ SORP IFRS 1021 'AccounNThJ and Reporting by Charities.. Statement of
Recommended Practlce appI￿able lo charitles preparlng Ihgiraccounts In accordance with the Flnanckgl Rèportlng
Stsndard applTrcabk in the UK and Republic of Ireland (FRS 1021 l¢ffeGMve 1 JBnuary 20191,. Flnanclal Reporting
StAndard 102 The Finandal Reportlng Standard applicablo in the UK 8nd Republic of I￿land, and the Gh&rit
Act 2011. Th& finanr481 ststemerttA havé been prepared under th8 hl8tDrical cost ￿nVen￿on, as modffj8d by the
revaluatlon of ctrrtain ossets.
Thtr fin¥nclsl stalements are prepaTed In stsrllng. whlch is Ihe fun¢tional currency of Ihtrcharfty.
Monelary amunts in these ffinan(x81 statements are rounded to the neare81 £1.
GOING CONCERN
Durlng the yearthe trusta&s have become awarg ofsub8tantl81 ￿TrovatIon woyk nBEded lo be don810 the wjpety,
forwhich the charity may not be able toffinance out of thg current levél oflree reseNes. IIVhil8tthe trustees
8rè stlll eonsiderlng thelr IWlon3, there is 8 rlsk thal the trus1985 may dec4de to Bell the some or all of the propyrty
if they are un8b18 to find an altemative nxlhod ol ffinanclng the rw£&sary lonovalion work. and fhe impact lo the
S&Nes olthe charity 85 a re5LFM Is cU￿entlY unkn¢)wn. The current 8im of Ihelrttstees18 to retain H hg011ty reserve
0$ a resukof enydeca81on6 ￿gardIng the propety, and Iflhg property Is sold Iher& rnay b& sufficient￿h generated
from th* s#1• to acquire allemalNe investff*nts, the in￿rne Irom whith will then fiAKI fulure grant paymèntg.
However until 8 dèdston regardlng the fvlure of thg property Is reached and th8 Impact on the reseNes is known,
th8r• 18 some uncertainty as to the charity's 81ylty Ip ¢ontlnue 8s a gokng eoncom.
INCOME
All Income18 rwnLsed in th& Siaternenl of FIA8ndal ActfvMie$ orLCè tht eharty has enlitlernent lo the funds. li 1$
probable that the income wlll be Ye¢eIv￿ and the amount ￿n be me8STJf8d r6lWiy.
Rental IncYJffle18 recelved on 8 8tr•ghl bas18 over the ￿ri￿a to whlch It re1818s.
Grnnt Income rs rwised when there Is e¥￿er￿ ofgnlitlement lo the 9rant. reG•lpt is probabk8 Ks amount
an be measur8d reliaNy. EAtMement usually arise8 Imrnedlately on its recelpt, un1¢6$ thore 8Te le￿$ orcondition$
which nvjsl be mel before Ihg tharity 15 8TrtiUed lo the income.
Inieresl iicomg18 meo￿11$ed lor all kn18re81-bè&1ng Instrurnents using thè eftectiv6 Interesl ratg ￿thLy1.
EXPENDITURE
Lkgbllilles gre recognk8eil as gXP9nditurè as soon as there is a18gal orconstbucbveoblig8tlon comnNtting Ihe¢harity
lolhat éxpèndlturts. It is probable th818 tr8nthf of economic ben8rrt8 will be ￿qU￿red In setllemenl and amount
of the obligation can be ￿￿asured reliabty. Expendilure Is accounted for on 8n acxruals basis and has been
classified under h88dingS that aggregate all c051 r81ated to the category. Wherg vjsts cannot be direcmy altributad
lo pgrtrcular headlng5 Ihey have b88n allocated lo activiti85 on a basts CLJnsist8nl￿th the use of resources.
ants payat48 are charged lo expendittjre whan Ihe offer Is convoyed to th& red￿ent, Ihe offer Is
Condilic￿al in whl¢h case swh grants are chargBd lo 8XPtndfturewhen the conditions attachlng a￿ fuifilad. Grdnts
offer•d Subject lo condltlon$ whlch have not been met at the yearend are nol¢d as a commilment. but not ?￿rUed
35 8xpendliuro.
INVESTMENT PROPERTY
Inveslrnent propèrty Is shown at mst recent valuabon. Any aggregat8 surp1￿ or defich arf61￿ from Cheng￿ In
fair value is recogni88d in the Statement of FinHnct81 Actnittles.
TAXAMON
Th¢ Gharily is exernpt from lax ils ch81itable
FUND ACCOUNTING
Unroslricted fund3 w be ￿ed In 8c¢LYd8nce ￿th the chariiablè obledves al the dIsc￿lI￿n of trustees.
Resbkied lund8 can only b8 used lor paru￿lar restftctèd withln Ihe objects of the thrty. Restrictions
arfse when 8pecffie(I by Ihe or%then fund$ 8r& rA166d for partlcular re8lN¢t9d pu￿0$8$.
Furtherexplanatlon otlhe n8lure and purpose of e8¢h fundlg Includod In the notss to Iho fina)dal statements.
Page 8
conlinue(I,..

Thè Hopmark•t Charity
Notos to thg Flnanelal Statern•nt* . continued
fortho Yèar Ended 318t Maroh 2024
ACCOUNTING POLICIES . contlnued
FINANCIAL INSTRUMENTS
The charfty has elerted tts ap￿Y the provislons of Section 11. B&81c Flnandal Instruments, and Secllon 12'0th8T
Financial Instrument6 Issues, of FRS 102 to al of its ffinanclal instwments.
FinanclBI Instruments arè recognlsed whgn the charity bscorn05 party to eontraclu81 prov161ons of Ihe In8trument.
Financlal a889ts ar8 off881, wilh Iho net amounls pr•s8nted in the accounts wh¥¢ there Is a le9alty enlorceablè
rfght to off th8 recognlsed arnounis and thewe is an tnl8tblon to 8elUe on a nel bast5 or to malise the asset and
sgltle the liability wmull8ngou$Sy.
BaslG Financlal Atytsets
Basic financial as8el8. whlch Indude Ifade and otheT Tet*lv8bles and ¢8sh and bank balances, are initially
measured al Iransaction price irKluding transa¢l(on costs and are subsequenlty c81ried at amorti8¢d cosl using thg
eff￿tIVe interest method unles5 th8 8rrangemenl con$￿tUteS a financing transaction. where the trans•don
M￿sUred at Ihe pr88ènt vakte ol Ihe fijlure r￿￿ts ￿￿%￿Unted 8t a math8t r81ts of Inter981.
Ba81¢ Flnanclal Llabilitl88
B8slc financial Il&bilitig$. Includlng trad¥ and i*her payauas, are inilially recognl&ed at Iran?*ctton ￿ce unk8S¥
#rran9ement cork4titute5 0 ffinancing tran8actlon, where the debt instrumonl 1$ measured 81 the preEenl value of
future 18(*lpts. dlscounled al a market Tale of Inlerest. Dgtl instruments are 8ub$equenlty carri8d *t amortlsed
cost, using the effeGtNe inlernsl rate method.
Trada payable8 aTe obligallons to pay for goods or servlces Ih?I have been ar4ulred in the ordlnary course of the
operations from suppllers. Accounts payable are classified as cuffent Ilabillles If payfflentlg due within one year
le8s. If not, they are presented as non4urrenl118bllilies. Tr¥de p3yab18È ar& recognised inltihlly atlran8actson c08L
SERVICE CHARGE MONIES
Ser¥ke charga monies co118CtÈd and managed bythe inveslmenl proporty manager of Ihe charfly are manag8d on
Irust on b8half of th6 tenants ol fhe investment property. Service tharge monies not ry)nsideTed lo balong to
Ihe Charity and the flnandal aclNiOes (Incli*Jlng Incom$. axpeThYllure, assets and Ilabilitiasl r8lating to Sorvi¢¢
chargè monl&s have been exdudEd from these h)anrAal 8talements.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Arxounting estimates 8rKI ludgemenl ar8 ¢onUnualty evalual•d and are based ￿ h181orfcal 8xperignc8 and other
factors. Includlng expectat￿n$ of future ￿entS Ihal ar8 belp¥ed to ba 18èsonalAe underthe cArcurnstsnc*s.
Slgnlflcant 6ourt•¥ of oslknatton uncerlainty
The Investment property Is ￿valued to m8rket value based on a valuation ￿rfornied by an independenl
professlonal qualifled valuer at a dale 60me mDnltts after the ffinanelal yaar end. The trustees are of th8 opinion
that the valuatton of the investm8nl proPe￿e5 have not sIgn￿¢an1￿ changed beiweeTh ffinancial year end And
the dale of tha vgluation. The valuè of inve61ment property is induded in note tr of the $t8tements.
INVESTMENT INCOME
2024
2023
Rents reCe￿ed
196186
148 603
Page 9
continued...

Tho Hopmarkèt Charity
Notss to th• Flnancl?I Statsments. eontlny8d
for the Year Ended 31¥t March 2024
RAISING FUNDS
INVESTMETrif ￿￿NAGEMENT COSTS
2024
2023
Investment prop•rty managgrfees
Propety Insuran¢9
Advertising and markettng
Electricity, w&tsr And bu8ine58 tal88
Bad d&bt provision
ProE*rty repalr8 and rn&1nt8na￿e
29,114
58,128
13,61B
5,525
283
18,925
14,9
50,627
1,84fj
7,808
12S,593
GRANTS PAYABLE
2024
2023
Gfvnts Iss(ted
The lotal gmnl8 pald lo Institutions dufing the yearwa8 as follrhvs:
2024
2023
All Sorts of Performlng
Art￿haIr
Blln¢J Veterans UK
Disabled S8lkJrs AsBoryal•?n
Footstép$
Happy Days
H•adway WorcestsrTrust
Mago8 Day Centre
8Alor Llnk
08818 WarrKJon
Reacl
Rolate wor￿81ershlr0
St. stephen's Cl￿Tch
The MyTiad C8ntro
wor￿Ster Crtvien5 Ad¥lce Bureau 8 WHA8AC
Worcester Comrnunlty Trust
2.000
3,500
3,000
1.000
3,500
5,000
1.020
8,300
8,QlY)
1,079
7.000
3.700
3.000
4,685
1,Y)O
2,300
3.000
5.000
7,000
6,(N)O
42
SUPPORT COSTS
2024
2023
Admlnlstrotion charg¢s
Indgp&nd&nt examination f8$
Trustee indemnlty In$￿ance
Legal fee8
Sundri
16,300
1,800
700
380
215
16,300
2,190
682
9,294
Pag9 10
conllnued...

Thè Hopmarket Charity
Notss to the Flnanci¢l Statements- contlnued
for th? Ygar End¢d 31¥t March 2024
TRusfEES' REMUNERATION AND BENEFITS
There were no twstse8' rgmuneration or other b&neffts for Ihg year eniled 31st March 2Wd4 nLYforthe year8nded
31st March 2023.
TrUSTEES' EXPENSES
Th8r8 wet8 no tru$lees' 6xpensg6 paid for Ihe year 8ndad 31st Marth 2024 nor tr thè year ended
31st March 21)23.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVlnES
Developmrtt
designated
lurtd
Repairs
dosignated
fvnd
UnrestrKled
funds
Tot81
INCOME AND ENDOWMENTS FROM
InvB$tm¢nt Income
EXPENDITURE ON
Ralsing fund$
91,851
91,857
Charltablg a¢tlv1I9$
Grènts issu
Support¢osts
59.605
Totsl
180.16B
180 188
NET INCOMEIIEXPENDITUREI
Tran$ferg bet&veen fund8
131,5651
(31.565)
32
movem•nt In fundB
142.4971
932
10.ODJ
131,5851
RECONCILIATION OF FUNDS
Total funds brought fotwgrd
1.261.933
12,307
82,587
1,356,807
TOTAL FUNDS CARRIED FORWARD
1219A36
1325 242
INVESTMENT PROPERTY
FAIR VALUE
Al 151 April 2023
Rev81uation
1,170,000
At 3161 March 2024
300 000
NET 8OOKVALUE
At 31st IAarch 2024
AI 31Bt March 2023
1 170000
The Investment propety was revalued by an indep6ndenl yof6ssw)nal qualifiéd v81uer on 22 January 2025. Thi8
wa8 undertaken by Annèka Wllks Bsc (Hon3) MRICS on behalfof GJS Dlllon Llmlled.
The trusteès are of the opinlon that Ihe velualKJn of the Investrnenl prgportss have ncl si9n¥ficontly charoed
between 31 Match 2024 and 22 January 2025.
Pag8 11
conlinued...

Tho H0pma￿t Charity
Nots? to tho Flnonclal Slatsm¢nts- contlN¢d
for the Year Ended 31gt Ma￿h 2Q24
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtor8
S Dilloft l Fisher Ge￿an LLP
Prepayments and aGw8d income
4.049
28.251
1,888
43,696
58.580
103.954
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
T•nanl deposits
Worce9ter Clly Counc41
Accrued gXP8nsè8
Deferred incvTr￿ (see 141
2.204
.198
4,461
103,368
10,003
116796
103911
11 CREDITORS: AMOUNT8 FALLING DUE AFTER ￿)RE THAN ONE YEAR
2024
2￿23
D&f&rr8d inojme {see note 14}
13.
MOVEMENT IN FUNDS
N81
moveThnt
In lund8
Tiensfer8
Al 1.4.23
lunds
31.3.24
Unr0$trlctod fund#
General unre8trfcted fuThJ6
Capitsl reserve fttnd
Dev8lopmBnllLnd
Rapaws fund
49.436
1,170,000
13,239
8,919
1870.0001
2,871
60,928
300,OOD
9,000
94
315
14,2391
25
861.081
TOTAL FUNDS
1325 242
8610811
Net rnovemenl in lunds. inclth in the above are as folbws:
In¢omirrfJ
re8ource8
R&sourcg5
Éxpended
G8in5 8nd
)Bseg
MoveTMnl
In fvnd8
Unrastrlcted fund
GonBral unrtrstrioted funds
Capitsl r858rva fttnd
196,186
1187,2871
6.919
870 0001
187267
TOTAL FUNDS
187 2871
870 0001
8610811
Page 12
continued...

Th• Hopmark•t Charity
Notes to the Flnanclal Statemonts . contlnued
for the Year Ended 31st March 2024
13.
MOVEMENT IN FUNDS - contlnued
Comparatlvu for movement in funds
Net
mvèmenl
In bJnd8
Transfers
balween
Jnd5
Al
31.3.23
Al 1.4.22
Unrestrlcted funds
Genèral unrestricted funds
Capital ie5eThe fund
Dev&lopment fund
Repalrs fund
91.933
1,170,000
12.3Ct7
82 587
131,5651
110,9321
49.436
1.170,IX)O
13,239
92.567
932
10.0
1356 807
1325,242
TOTAL FUNDS
1,3S8,807
1585
1.325.242
Comparaiwe n81 n￿)vement in funds, included in Ihe above are 83 follows..
Ineomir
rosouf¢es
Resource8
expended
th)vernent
fLmds
Unrtstrlcted funds
Genergl unre51￿ct84 funds
148,603
(180.168)
131,se51
TOTAL FUNDS
180188
Tho Repairs Fund18 hFld lo provlde funding for major rgpalrs and a8 8 ts)ningenGy unforesegn repah. Thi¥
Is part￿￿18￿Y Important for8 building of thi3 agè, type arnl ¢on$lwclI￿. The Ch8thtls prop&￿ agent is ¢onsulted
10 6nsur8 Ihe adequacy of the reservg.
Dov¢l
ent Fun
The Dev&lopn7ent Fund Is held for fijlure irNestmnl In Th￿at1￿J aclfvity lo prorrK*t¢ and dovelop th8 Hownarket
and thernty attract m¢r¢ 1gttlng6.
Th& Capital Reservès Fund represents the Charit*s hoidlng In the Invgstmgnt pr￿erty.
P8g813
cC￿ttnue{I...

Tho HopmArk•t Charity
Notes to the Flnanclal Ststement8- contlnutd
for thg Ygar Ended 31st Moreh 2024
14.
DEFERRED INCOME
Oelerrgd Inwme relate5 to £1.04812023- £2,09n 10 year lease payr￿nt recdvèd In adva￿ aThJ other r•ntsl
income weiv8d in advance totslling £2,375 {2￿23- £nlll.
15.
RELATED PARTY DISCLOSURES
Woreester Clty Council provlde6 kay management porscMg1 s¢f¥ices lo charlty. Wor¢esler Clty Coundl
received W management per8onnel remuneration forthe8e seTViC8S of É16.300 (2023- £16.3001. During the year
Worcester Cty Coundl made payments ta INrd parties as ￿ent ofthe (tharity toialling £87,067 {2023- £79,898}.
At the yearend the tharity owed Worcester City Coundl £103,36712023- £90,19n.
There WgTe no OtheT related party tr8wwcbpns th the year.
16. OPERATING LEASE INCOME COMMITMENTS
Mlnlnwm leaw Income due to the charily undw nonvcan¢•lIa￿e operabno leases fall due as folbw8'.
2024
2023
thSn one year
Bel**en one and five ￿r8
After yBars
94387
277,609
133473
84,469
214,Y97
128 339
427 e05
Page 14

The Hopmarket Charity
Dets118d Ststsment of Financlal Actlvltte8
for tho Y￿r End•d 31¥t M*r¢h 2024
2024
2023
INCOME AND ENDOWMENTS
Inv•stm•nt Income
Rent& rwfved
196 1B6
Total Incomlng resour
196.1B6
14B.603
EXPENDITURE
Inve8tr)ent management c￿ts
Investment property manager fee8
Property insurnThce
Adverbsing and marketlnu
Electriclty. water and bJslnesB Tal88
Bad debt provision
Property ryglrs and mainlenanog
29.114
58,128
13.618
525
283
14,990
50,627
5,568
1,e46
7,808
12S,693
91,857
Charftabl• a¢tlvlY9$
Granis lo instiiution$
42,27
59.e05
Support ¢￿ts
Atlministr2tion charges
Independent ex8minalion fo9
Trnstee Indemnity in5UTanee
LtgAI fegs
Sundries
16,800
1,800
700
380
215
16.300
2.190
9.294
240
Tol81 rnsouK6s expen¢*8d
180 168
Nèt incomellexpendltuMI
Thls page doe¥ nol form part oftho statutory ffinancldl stsleft￿nts
Page 15