COMPANY REGISTRATION NUMBER: N1622198 CHARITY REGISTRATION NUMBER: 100154 Hope and a Future Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 D C CORR AND COMPANY Chartercd accountants 29B Main Street Randalstown County Antrim BT413AB Hope and a Future Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Directors, annual report (incorporating the director's report) Independent examiner's report to thc directors Statem8nt of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements 10 Hope and a Future Company Limited by Guarantee Directors. Annual Report (Incorporats"ng the Director's Report) Year ended 31 March 2024 The direclors, who are also Ilie iJireLtor5 foi the purpose5 of wtnpany law, present their report and the unaudited financial statements of the charity for the year ended 31 M2rr.h 2n24 Reference and administrative details Registered charity name Hope and a Future Charity registration number 100154 Company registration number N1622198 Principal offlce and reglstered 7 New Street office RAndAlqtown County Antrim BT41 3AF The directors Mrs C Keenan Mr W Pollock Independent examiner Dermot Corr 296 Main Street Randalstown County Antriin BT413AB stru￿U￿, governance and management Hope and a Future Is a company limited by guaiantee and as such it does not have shale capital. Every director being a member of the Executive Committee undertake$ to contribute to the assets of the Company, in the event of the same being wound up while he is a member, or within one year after hp ceaso.s to be a member, for payment of debts and liabilities of the Company contracted before he ¢ease$ to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of rights ot the contributors among themselves. such amount as may be required not axcooding £1.00. The Lompany is registere¢J with HM Revenue and Customs as a charitable body for tsxation purposes IHMRC Charity Number XT7910}. The Company was incorporated on 8 January 2014 and its governing instruments are the Memorandum and Articles of Association. The address of tne Pompany's Registered Office, which is also its principal address. is shown on page 1. Hope and a Future Company Llmlted by Guarantee Directors. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Objective5 and activities Hope and a Future is a small Northem Ireland charity based in Randalstown, County Antrim. The Glicirity wa5 Inltiated by loGal Gouple Kevin ana Christine Keenan followlng a irtp io tne iown or Shashemene in the south of Ethiopia in 2006 They were mcjvpd hy thp high Ipvp.l of povprty and the lack of education for some of the poorest children. Many of these children worked from as young as 5-6 years of age or made a living by begging on the streets. The Hope and a Futu￿ Charity was formed in 2007 and 13 overseen by a committee of local people from Randalstown and Antrim. The Initial aim at the start was to provide education tor some of the poorest children in the town of Shashemene in South Ethiopia, 250 kms from Addis Ababa. From a very small beginning of a small rented building with 150 children the charity has grown r)ver the past 12 years to the extent that in 2019 8UPPOrt was being provided for two schools with up to 500 children. The first school was purpose built and provides education for children 8yrs to 16yrs. This school is called "School for Humanity and currently provides education for up to 400 children. A second SGho]ol called Tesfa had around 100 chil(Jren atten(Jing of age 5-7 years. The decision was made to to cease the second school in June 201g 2nd the childrpn would be tr2n.Efprred intn thp firql school as places became avai18ble. From September 2019 the Charity was maintaining the School for Humanity with 400 children. All Ghildren were provided with school uniforms and for many of the children it is their main items of clothing. Each child re￿iVeS a nourishing meal each day which greatly helps the health of the children but this also presents a challenge due to increasing costs of foodstuffs. Children also are provided with new shoes wlien requlred as well as medical treatment when necessary. All teachers and support staff are employed from the local area and the charity up to June 2020 were employing more than 50 50 staff as teachers. cooks, cleaners, adiiiin, sloies and maiiagemeiil. In 2015 the Hopa and a Future charity began to plan towards building a Therapeutic Centre for children with a Disability and a Youth Gentre in Sha5hemene. At that titne there was very little provision for children with a Disability with many of these children living in isolation in their shack houses. They have no access to education, therapeutic interventions, healthcare or opportunities for socialisation with their peers Construciion of this new Ouilding was completed in 2019 From 2015 the Chartty began to gather Disability equipment into sto￿ facilities connected to the Lharity shop outlets with the aim of sending a Sea container loaded with this equipment trom N. l. into Ethiopia and on to the new building in Shashemene. Arrangement was made for the Container to leave N. l. In September 2019, laden with the equipment which had been gathered up over the previous years. The container arrived at its destination in Ethiopia in November 2019. In the years from the beginning of the Charity. teams of volunteets trom N. Ireland have travelled to Ethiopia to provide direct support and encouragement for all ongoing projects. These trips are generally 10 to 14 days duration. The last trip was in November 2023 and four people visite(J the various projects in Ethiopia and brought back gc￿d progress report. Hope and a Future Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 AGhievements and performance In September 2019 there was a formal opening of the new Youth Centre in Ethiopia, attended by Local Auihorlty including the Mayor ana also represeniaiives trom N. Ireland The Youih centre on the upper floor would provide local children with somewhere to meet and socialise. They would havè accass to a library and a place to study and complete homework. During 2019, due to increasing expense of maintaining the school with rising costs for food. salaries etc. there were delays in achieving full operation of the Disability Centre and Youth Centre. At this time the Charity Committee were looking ai ways to recluce the financial burden. The financial situation intensified in March 2020 when Coronations came into N. Ireland bringing the first Lockdown when our shops had to close and the main Sour￿ of Income ceased. By June 2020 any reserve financo was depleted and decision was made to terminate our finance input to the School Ivi Huinar)ity drid to tlie Disability and Youth Centre. At thi5 time the Charity wa5 5ti11 in LocK(Jown with no inr.ome and no reqerve finance to m2intgin Proj@cts. L@ttors w@r@ writtèn to Authorities in Ethiopia explaining the Charity position and giving the Projects over to their administration. Following the first Lockdown the Charity shops rgopgngd in July 2020 and income began to ba reslored bul slill willi littiildtlDnS due to the ongoing Covid 19 PandetniG. In July 2020, thi5 Charity began to send finance support to smaller schools in the same region of Ethiopia.. The Charity finance position remained very low during the Covid threat in the County and there was 8 second Lockdown from Dec 2020 til Apnl 2021.our shops were Closed for this llme. Following the second Covid lockdown our shops reopened in April 2021 and began to restore income for Charity funds. In the monins following Charity SUPPOrt was restored lo the School for Humanity an(J also support continugd for a second school callad 'Mululalam'. The School for Humanity continues to have 400 childien and the Mululalem school also has up to 400 children so in total our Charity 15 providing education for 800 children 2nd also provincialities for more than 50 staff across the Iwo 5Ghools. Many of the studonts from School for Humanity have proceeded into higher lavels of Education and may proceed into University Education which will bring good prospects of Etnployment and future finance support for their families. Since the 5ufftmer of 2021, thanks to steady income fvorrb our Charity shop5, we have maintained regular monthly finance payments to thp. schools in Ethiopi2 We also support a Deaf community of around 40 famllies wlth monthly finance as thelr disabillty limlts their employment potential.we also SLSPPOrt a community of people whose adults have leprosy, supporting an Agriculture programme to encourage selF sufficiency in the future. The Deaf group and Leprosy group live in the same region as our schools in Ethiopia. In addition to oui projects in Ethiopia, the Charity also aims to support small local needs in our local Area of N Ireland This includes single parent f2milies. migrant families, people on low incomes and others with disability, addictions andlor mental health issues. At present time the Charity may support people experiencing stress due to National economic downturn. Our Charity shops have become popular social locations wh8ra p8ople find friendship and gncouragomant. Our Charsty shops sarv Inaiiily Raiiddlslown aKitJ AiitiirTI diiij è4uirouwidiny iegiuiib. Mdfly ul Liui vulurileei èiidff bpedk of Ilie personal benefit of engaging in worthwhile work and escape from isolation and loneliness. We also encourage involvement of people who may have disability or mental health issue3 and this 18 therapeutic for In(Jividual health. Hope and a Future Company Limited by Guarantee Directors. Annual Report {Incorporating the Directorfs Report) (continued) Year ended 31 March 2024 FinanGial review Both the level of activities and the year end financial position were considered satisfactory. The dlreciors expect Ihai income to increase in Ine year 10 31 Marcn 2024 an(1 this will De maintained for the foregoÉablÉ future. The Statement of Financial Activities shows a net decrease in Unrestricted Funds of £27.758 and a no change to the Restricted Funds. The Company had Total Charity Funds of £129,170 at 31 March 2024. Small company provisions Thig rÈport has been prepared in accordanco with the provisions applicable to companias antitlèd to the small companies exemption_ The directors, annual report was approved on 17 December 2024 and signed on behalf of the board of trustees by- Mrs C Keenan Director Hope and a Future Company Limited by Guarantee Independent Examiner's Report to the Directors of Hope and a Future Year ended 31 March 2024 iepoil Iv Ilie director5 Oll tny examinalion of the flnancial statemenls of Hope ano a Future {'Ihe charity'l for the year ended 31 March 2024_ RE5pon5ibilili¢s and ba515 of report As the directors of the company (and also tts directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act {Northem Ireland) 2008 (the '2008 ACY) and the Companies Act 2006 {'the 2006 Acti. You are satisfied that the accounls of Ihe coinpany are iiut iequired by Gharity or company law to be audited and have chosen instead to have an independent examination. Havlng satlsfied myself that the accounts of the company are not required to be auditecl under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my axamination of Ihe Gharity's financial statements as Garried out under sectioii 65 of tlie 2008 Act. Iwi Laiiyiwiy uut Iny examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{91{b} of the 2008 Act. Independent examinerfs statement Sinbe the Gharity's gross income exceeded £250,000 your examiner must be a member of a borjy listed in section 85 of the 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of Chartered AGGountants Ireland. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection willi Iny exaininaliuii yiving rne Gause to believe thal in any material respect- accounting ro¢ord8 were not kept in respect of the charity as required by se¢tion 386 of the 2006 ALI, uw the financial stat8monts do not accord with those records., or the financial ststements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter consi¢Jered as part Of an independent examinatson., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in trie UK and Reputlllc of Irelanij IFRS 1021. I confirm that there arc no other matters to which your attention should be drawn to enable a proper unQerstsndlng ol the acco be reached. Dermot Corr Independent Examiner 29B Maiii Street Randalstown County Antrim BT413AB 111 tA2Y Hope and a Future Company Limited by Guarantee Statement of Financial Activities (including income and expenditure acGount) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacias Other trading activities Total income 1,000 341,503 1,000 341.503 3,096 319,350 342.503 342,503 322,446 Expenditure Expenditure 011 charildble activities Total expendlture 370,261 370.261 370,261 370,261 301,406 301,406 Net (expenditure)lincome and n•t movement in funds (27.758) 127,758) 21,040 Reconciliation of funds Totsl funds brought forward Total funds carried forward 148,860 8,068 156,928 135,888 121.102 8.068 129.170 156,928 The statement of financial activitics includes all gains and 1098e3 recognised in the year. All income and expenditure derive from continuinq activities. The note8 on pag¢3 40 to 17 fomi part of these finanGial stateineiits. Hope and a Future Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets l angible tixea assets 13 139.526 146,216 Current assets Stocks Debtors Casli al bdrik tand in han 14 15 2.726 6,528 33,570 1.230 4,941 63,982 42,824 70,153 Creditors- amounts falling due within one year Net Current assets 41,576 29,935 40,218 1,248 Total assets lèss current liabiliti•s 140,774 186,434 Creditors: amounts falling due after more than one year 17 11.604 29,506 Net assets 129,170 156,928 Funds of the charity Restricted funds Unrestricted funds 8,068 121.102 8,068 148,860 Total charity funds 18 129,170 156,g28 For the year endirig 31 March 2024 the chartty was entllle(J to exemption from audit under section 477 of the Companies Act 2006 relating tn small companies Directors. iespon¥ibilitlES". The members have not required the company to obtain an eudit of its financial statements for the year in question in accorc1an￿ with section 4/6" The directors acknowledge their responsibilities for comp5ying with the requiretnents of the Act with respect to accounting records and the preparation of fin2nci21 st2tp.mentg Tliese financial statements have been preparecl In accordants with the provisions applicable to comp2nip.s subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 10 lo 17 Iotrn part of theSE finanGial statements. Hope and a Future Company Limited by Guarantee Statement of Financial Position (eontinuedj 31 March 2024 These financial statement5 were approved by the board of Irus1￿￿ and authorised for issue on 17 December 2024, and are signed on behalf of the board by" @I Mrs C Keenan Director The iiotes on page5 10 to 17 form part of these flnanclal statements. Hope and a Future Company Limited by Guarantee ststement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating activities Net (expenaiture)Iincome (27,758) 21,040 Adjustmenls for.. Depreciation of tangible fixed assets Accrued expenses 11,553 1.378 10,834 553 Changes in.. Stocks I ra(ie an(i other debtors Trade and oth@r croditors (1,496 (1.587 10,263 610 14,785 (9,699} 38,123 38.123 Cash generated from operations Net cash (used in}lfrom operatlng activities (7,647 (7,6471 Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities (4,8631 (4.863 {1.625) {1,625) Cash flows from financing activities Proceeds from borrowings Npt cash uspd in financing activitl8S (17.902) (17.902 116.952) {16,952) Net (decTease)lincrease in cash and cash equivalents Cash and cash Èquivalents at beginning of year Cash and cash equivalents at end of year {30,4121 63.982 19,546 44,436 33,570 63,982 The notes on page5 10 to 17 form part of these flnanclal statements. Hope and a Future Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General informatio The charity is a public benefit entity and a private company limited by guarantee, registered in Nortliei11 Iielarid diirj