COMPANY REGISTRATION NUMBER: N1622198 CHARITY REGISTRATION NUMBER: 100154 Hope and a Future Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 D C CORR AND COMPANY Chartered accouiitarits 29B Main Street Randalstown County Antrim BT413AB Hope and a Future Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Page Directors, annual report (incorporating the directorfs report) Independent examinerfs rèport to the directors Statement 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 (Incorporating the Directorfs Report) Year ended 31 March 2025 Thg diroclors, who gro also thè dirgctors for the purposes of cornpany l¥w, pro¥•nt thoir r•port and th• unaudited financial slalemen*s of the charity for the year ended 31 March 2025. Reference and administrdtive details Registered charity name Hope and a Future Charity ￿gistratiOn number 1LK)154 Company registration numbÈr N1622198 Principal office and registered 7 New Street office Randalslown County Antrim DT41 3Ar The directors Mrs C Keenan Mr W Pollock Mrs M Blair Mr J Mccabe Mr6 Y Scullion (Appointed 13 January 20251 (Appointed 13 January 20251 (Appointed 13 January 2025} Independent examiner Demiot Corr 2QR M2in 8trg.p.t Randalslown County Antrim BT413AB Structurc. govcrnance and mana9omcnt Hope and a Future is a Company limrte(J ty guaraniee and as suth r( does not have share capital. Every director b￿n9 a member of the ExeaTtrve Committee undertakes 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 he ceases io be a member, for paymeni of debis and liat)ilrties of Ihe Company con1ra￿e[l before he ceases to be a member. 2nd of the cnsts. charges and expenses of winding up. and for the adjustment of rights of the contributors among themsetves. such amount a8 may be required not exi￿￿1[19 £1.00. The Company is registered wrth HM Revenue and Customs as a charitable body for taxation purposes IHMRC Charty Number XT79101. The Company was incorporated on 8 January 2014 and its governing instruments are the Memorandum and Artides of A33wation. The addre33 of the Company's f¢egistered Offi￿, which is also lls principal a¢¢ress, is shown on page 1. Hope and a Future Company Limited by Guarantee Directors, Annual Report (Incorporating the Directorfs Report) {conliniJod) Year ended 31 March 2025 Obj•¢tiv•$ and •ctivities Hope and a Future is a small Northein Ireland diarity based in Randalslown, Couiily Anlririi. The charity was initiated by local couple Kevin and Christine Keenan following a trip to the town of Shashemene in the south of Ethiopia in 20(￿. Thpy werp movéd by thp high lèvp.l of KX)Vérty And th lack of education for some of the poorest children. Many of these children worked from as young as 54 ye¢llS uf ¢ige vi ITldde d livirig by be99in9 Oll the slreet5. The Hope and a Future Charity was fomied in 2007 and is overseen by a committee of local people frorn Randal-town and Antrim. Thc initial aim at thc start wa- to provide education for some of the poorest children in the town of Shashemene in South Elhiopia, 200 kms from Addis Ababa. From a very small beginning of a small rented building wtih 150 children the charity has grown over the pa£t 12 years to the extent that in 2019 support was boin9 provided for EchoolÉ with up to 500 children. The first sthool was purpose built and provides education for children 8yrs to 16yrs. This school is called "School for Humantty" and (Jjrrentiy provides e¢Jucaiion Yor up to 4cKJ cnildren. A second school called Tesfa had around 100 children attendina of age 5-7 years. The decision was made to lo caase the second school in Juno 2019 and the children would be transferrgd into the first school as places became available. Frotn September 2019 the Charity was maintaining the School for Humanty with 4UU children. All childron wgre provided with school unrforms and for many of th• children it is their main items of lothing. Each Child re￿IveS a nourishing meal each day whiGh greatly help5 the health of the children but this also presents a challenge due to increasing costs ot toodslutts. Lhildren also are provioed with ngw qhopq whpn rg.qiiirpd aq wp.112% mp.dir21 trp.almg.nt when nerEssary. All teacherg and support ¥laff are employed from the I￿al area and the charity up to Junc 2020 wcrc cmploying more than 50 50 staff a5 teacher5, cook5, deaner5, adrnin, stores and tnanagetnent. In 2015 the Hope and a Future charity began lo plan towards building a Therapeutic Centre for children with 3 Disabilrty and a Youth Centre in Shashemene. Al that time Ihere was very litt18 provision for children with a Disabilrty with many of these children living in i301ation in their 8hack houses. They have no access to educaiion. therapeuuc InieNeniions, heallhcare or opportunf(les for socialisation with their peers. Constru¢lion of this new building was compleled in 2019 From 2015 the Cherity began to gather Disability equipment into store facilities Gonnectcd to thc Chamty shop outlets wllh the alm of senolng a Sea Conlainer loaded wth Ihi5 equipment from N. l. inlo Ethiopia and on to the new building in Shashemene. Arrangement was made for the Container to loavè 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 volunteers from N. Ireland have travelled to Ethioptg to provide direct SUPF)Ort >nd encouragement for all ongoing projetAs. These trips are generally 10 to 14 day8 duration. The la31 trip was ID November 2023 8nd four people visited the variou5 p(ojeGts in Ethiopia and biou9hl bath g(MJd piogres5 report. Hope and a Future Company Limited by Guarantee Directors. Annual Report (Incorporatrng the Directorfs Report) (Confini￿d) Year ended 31 March 2025 Athi@v@m@ntS 2nd pp.rfrJrni#nce In oeplember 2019 there vvas a fomial opening of the ncw Youth Centre in Ethiopia. alleiided by Local Authority including the Mayor and also represenlalives from N. Ireland The Youth centre on the upper flnnr woiild provide local children w¢th somewhèrè to meèt 2nd gotig1i#e_ They would have atxess to a library and a place lo study and complete homework. During 2019, due to increasing expense of maintalning ihe school wfth Mslng cosis lor food, salaries eic, there were delays in achieving full operation of the Disabilty Centre and Youth Centre. Al this time the Chanty Commtttee We￿ looking at ways to reduce the finan￿al burden. The fiiianGial siluatioii iiil¢iibifi¥d iii MiifLlI 2020 wlierl Coiun¢ltlQn5 rame into N. Iteland brittging the Iirsl Lockdown when our shops had to close and the main source of income ceased. By June 2020 any reserve finance was depleted and deusion was made to teminate our finance input to the Sthool -till in Lockdown with for Humanity an¢J to the DiAbilty and Youth Ccntrc. At thi- timc thc Charity was- Iiu iriLuiiiE ciiid ritj ieseive finan￿ to rnainlain Piojett5. Letter5 were wtttten lo Authorilie5 in Ethiopia explaininq Ihe Charity Position and givinq the Projects over to their administration. Followin9 Iha first Lockdown the Charity Bhops reopened in July 2020 and income began to be restored bul slill willi liiiiilaliviis lu Ilie uiiguiriy C(Jvid 19 P¢iiideriiiL. Iii July 2020, Illib Clidiily beqan to send finance support to two smaller SCh￿IS in the same region of Elhiopia.. The Charity finance position remained very low during the Covid threat in the country and there was a second Lockdown from Dec 2020 til April 2021.our shops were dosed for this time. Following the second Lovi¢ lockdown our shops reopeneo In Apnl 2021 and began to restore income for Charity funds. In the months following Charity support was restored lo the School for Humanity and also 5UPPOrt continued for a second school callad 'Mululalam'. Tha School for Humanity continue8 to have 400 Children and the Mululalem school also has up to 4¢XS children so in total our Charity is providing educaiion for 6tKI children and also provinaalrties for more than 50 Stsff across the Mo schools. Many of the students from School for Humanty have prc￿ded into higher levels of Education and may proceed Inio University Educalion which will bnng good prospects of &mploymenl and future finance support for their families. Since the summer of 2021, thanks trj steady income from our Charity shops. y￿ have maintaine(I regular momhly finance payments to Ihe s¢h¢)ols in Eth￿p1a. We also SLlPPOrt a Deaf communty of around 40 families with monthly finance as their disgbility lirnits thcir cmployment potential.we el¥0 support 8 communty of people whose adults have lepro8y, buypuiliiiy £111 Ayiilulluie piogiarntne to encourage self sufficiency in the future. The Deaf g￿vp and Leprosy group INe in the same region as our schools in Ethiopia. In gddi(ion to our projocts in Ethiopia. tho Charity also aims to support sm311 local naad$ in our local Area of N. Ireland. This indudes single parent families. tnigranl families. people on low incomes and others with disabilty, aOOictions andlor mental health Issues. At present lime the Ghanty may support people exw.rip.nring slrg.qq diip to National pe￿noMIC downtum Oiir Charity shops have ￿t￿)rne popular social lO￿lOnS where people find friendship and encouragement. Our Charty 3h¢ps 3erve mainly ftandalstown and Antrim and surrounuing regions. Many of our volunleer staff speak of the personal benefit of engaging in worthwhile work and escape from isolalion and loneliness. We also èneourage involvement of people who may have disabilty or mental health issues and this is therapeutic for individual heath. Hope and a Future Company Limited by Guarantee Directors, Annual Report (Incorporating the Directorfs Report) (contsnu@d) Year ended 31 March 2025 Finanei41 r•vi•w Tlie yElly re.viewed and are based on experience and other fgctors, induding axpgclations of fulurc cvcnts that a￿ believed to be reasonable under the cirGumStan￿s. Fund accounts'ng Unrestricted funds >r• avaiiabla for uso at thè discretion of the trU￿ee. lo furthcr any of the charty's purposes. Designated funds are unrestricted funds earniarked by the dirÈctor* frjr partirJil8r fvrture projed or commitment. RebliiLted funds are subjecteil to restrlciions on their expendrture Oedared by tne Uonor or through the terms of an appeal. and fall into one of two sub4asses: restricted income funds or Èndowmgnt fiJnd* 10 Hope and a Future Company Limited by Guarantee Not@s to the Financial Statements {eonlpntsedJ Year ended 31 March 2025 Aeeounting polici•s (eontsnu￿) Incoming resources l incoming ￿soUrceS are induded in the statement of finanaal activities when entitlement has passed lo the charity.. it is probable that the ecnnomic beneffts associated with the transaction Y4ill flow to the charity and the amount Gan be reliably measured. The following speofiG policie¥ are applieu lo particular categones ot Income". income from donations or grants is recognised when the￿ 1$ eviden¢¢ of entitlement to the gift, re￿Ipt is probable aiid ils aiiiouiil can be IiiediTruied ieliably. legacy in¢ome is recognised when re￿Ipl is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical 10 measure reliabty, In which case the value Is Uerweu from the cost to the Oonor or the estimated resale v8luÈ_ Donated faulities and gervices are recognised in th accounts when received rf the value Gan be reliably measured. No amounts are induded for the Goiiliibulioii of geiièial voluiileeis. inv￿rne from cJ)ntracts for thÈ gupply of servicÈs is rÉ￿gn1Sed wrth the delivery of the contraded 8ervi¢e. Thi8 is dassified as unrestricted funds unle33 there is a contractual requirement for It 10 be speni on a panicular purpose and retumed rf unspent, in whlch case it may be regarded as reslncted R•8our¢g¢ oxpgndgd Expendttuie 15 recogllised on an accruals basls as a Ilablllty Is Incurrecf. Expendf(ure IncltJdes any VAT which cannot be fvlly recovered. and is classified under headings of the statement of finanetal aelsvitiès to which il relates: expenditure on raising fvnds indudes the costs of all fijndralslng actlvllles, events, non-charitable trading activities. and the sale of donated goc*Js. expenditure on charitable activtties indudes all costs incurred by a charity in undertaking actlvftles Ihat Iunher its charitable aims for the benefrt of its beneficiaries, induding ihose support Costs and costs relating to the govemance of the chanty apportioned to charitable activities. Olher expenotture Includes all expenditure Ihai is neither related to raising funds for Ihe charity nor part of its exrenditure on charitable activilies. All costs are allocated to expenditure eotegories refiectin9 the use of the rcsourcc. Dircct costs 8111 ibuliibl¢ Iu <1 biJiyle clLrtivity are allocated diiectly to that activtty. Shated cx)sls are apporttoned between the actNities Ihey contribute to on a reasonable. juslifiable and consislent basis. Tangiblo as80ts Tangible asseis are initialty recorded ai cost, and subsequentty slated at cosl less any accumulated depreuation and impaiment losses_ Any tangible assets e2rriÈd at rp.v3liJp.d amounts are recorded at the fair value at the date of revoluation less any ￿UbsCquent acGUtnulated depieoatioii ajid subs¥qwiil 04} 108.336 At 31 March 20 24 At 1 April 2023 Incotne Expendilure General funds 148.86A) 342.503 (370.2611 121,102 16 Hope and a Future Company Limited by Guarantee Notes to thè Financial Statements iconlinuedj Year ended 31 March 2025 18. An2ly*ig of charitsbl• fund8 i¢onts*utd) Restricted fund¥ At 31 March 20 25 At 1 April 2024 Income Expenditure ResIn￿ed Funu i 8,(￿8 8,068 At 31 March 20 24 At l April 2023 Income Expendiiure Restrided Fund 1 8,C68 19. Analysis of changes in net dobt At At 1 Apr 2024 Cash flows 31 Mar 2025 Gash at bank and in hand Debt due within one year Debt due after one year 33.Jf70 {19.533) {11.604) 2.433 (30,821) 12,507 11,804 2,749 {7.026) 16,7101 {4,277) 17