Company Number: N1053603 Charity Number: NIC100679 Hope (Nl) Limited IA company Ilmited by guarantee, not having a share capital) Annual Report and Unaudited Financial Statements for the financial year ended 30 June 2023 Daly Park & Company Ltd Chartered Accountsnts 4 Carnegle Street Lurgan Co. Arrnagh BT66 6AS Northern Ireland
Hope (Nl) Limited IA company limited by guarantee. not having a share ¢apitsl) CONTENTS Page Reference and Administrative Information Trustees, Annual Report Statement of Trustees, Responsibilities 10 Independent Examiner's Report Statement of Financial Activities 12 Balance Sheet 13 Notes to the Financial Statements 14-18
Hope (Nl) Limited (A company limited by guarantee. not having a Share capitsll REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Iris Loney Ison Freeburn Paul Thompson Andrew Loney Leonard Adamson Charity Number In Northern Ireland NIC100679 Company Number N1053603 Registered Office 99- 103 Union Street Lurgan Craigavon Co. Amagh BT66 8ED Northern Ireland Principal Address 99-103 Union Street Lurgan Craigavon Co. Armagh BT66 8ED Northern Ireland Independent Examiner Daly Park & Company Ltd Chartered Accountants 4 Camegie Street Lurgan Co. Amiagh BT66 6AS Northern Ireland Bankers Allied Irish Bank 18 Scotch St Dungannon BT70 1AZ Northern Ireland
Hope (Nl) Limited {A company Ilmited by guarantee, not having a share pItalI The trustees present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited financial statements for the financial year ended 30 June 2023. The financial slatements are prepared in accordance with the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trustees, Report contains the infomation required to be provided in the Trustees, Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity trustees for the purpose of Charity law and under the company's constitution are known as members of the board of trustees. In this report the trustees of Hope (Nl) Limited present a summary of its purpose, governance, activities, achievements and finances for the financial financial year 30 June 2023. The company is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and. although not obliged to comply wilh the Statement of Recommended Practice (Charities SORP effective January 2015), the organisation has implemented its recommendations where relevant in these financial statements. Principal Activities The principal activity of this organization is to promote the advancement of the Christian faith throughout the wodd. Thè charitable company is limiled by guarantee and does not have any share capital. Trustses The trustees, who are also the directors of the charity. at the date of this report are listed below '. Leonard Adamson Andrew Loney (resigned Ish December 2023) Iris Loney Wilson Freebum Paul Thompson In accordance with the Articles of Association, the directors retire by rotation and being eligible, offer themselves for re- election. Objectives and Activities The company was established to promote the advancement of the Christian faith throughout the world. to promote the relief of povety and suffering through the provision of humanitarian aid and finance to those in need in various parts of the world. and to promote various Gommunity projects on a regional basis.
Hope (Nl) Limited {A company limited by guarantse. not having a share capital) Achievements and Performance Financial Aid The charity has continued to utilize the surplus from its activities in Northem Ireland to support and encourage the Christian faith both locally and overseas. We are very thankful for all the support and assistance provided by the community around our charity shop in Lurgan and look forward to developing and expanding the community relationships in the Lurgan area in the future. We rely totally on donations of clothing, toys. furniture, and bric-a- brac which we can then sell to fund our mission work. We are also very grateful to all the volunteers who help us with all our day-to-day activities. The charity has donated £71,881 to overseas ministries in Myanmar and Ukraine and £13.263 to local partner organisalions during the current financial year. The Trustees are committed lo provide continued support to these overseas Gountries in order to meet its objectives in future years. Hope Chorlty Shop T&4 3654 4928 E)LPAISE r)L)JN..ITE LOLLECF Below are projects that Hope (Nl) continue to support financially and some information about our partners and what they do both home and abroad.
Hope {Nl) Limited {A company limlted by guarantee. not having a sharo capltall Myanmar Children's Home With the conflict, civil unrest, and war within Myanmar our partner in the work decided to build a school to offer education in a safe environment within Hope's grounds, they nol only educate the kids from Hope but also from the local area. We al Hope have continued to support the kid's welfare and education in 2022123 and have already committed to a further building project in 2023124 See some of the building work undertaken and classrooms full of kids. fx
Hope (Nl) Limited IA Company limltsd by guarantee, not having a Share capltall Ukralne We have partnered with two ministries in past years and just before the war in Ukraine Hope passed a resolution to support Pastor Sergei from Nova Kakhovka, we funded a minibus that became essential in the help of food and aid when the war broke out. The minibus was also used for carrying passengers away from the war zones. We increased our support significantly this year to Pastor Sergei and his church to support local mission and church. STANLÉY Idl14 414 Jl 4 Anya Verenych - Kherson In the Kherson area Anya has been working with ladies and their children in a crisis centre, providing counselling and practical care and support. Anya has been a friend of Hope Mission for many years and has been Ihe interpreter when Hope have visited. Hope has provided funds for Anya to run Christmas programs with the locals and when the war started in Ukraine Hope conlinued to fund the programs and provide humanitarian and medical supplies and care.
Hope (Nl) Limited {A Company limlted by guarantee, not having a share capltall Hope believe the funding strategy this year has been very strategic and directed by Ihe Lord with Hope providing substantial aid to war tom countries. Some local partners *aspire Aspire Nl exists to WO "th children in Northem Iland in poverty to help close th8 educational attainment gap that exists b81ween rich and poor. The sessions offer a place foryoung people to wort in a supeNised and supportive envimnment afterschool. They provide facilitators who encourage Ihe young people and provide th8m with support. At Christmas Hope provided a one-off donation along with the monthly support to help the charity through the Chrislmas period. Hope feels called to partner with Aspire who have a vision for each child in Northem Ireland to attain a least 5 GCSE'S regardless of their social background. reach Reach provides free mentoring to kids of school age and journeys with them on a weekly basis to help unleash their potential. The young person is referred to REACH by the school for a variety of reasons, such as anxiety. behavioral issues or difficult life circumstances, they are matched to a trained mentors. who meets with them on a weekly basis and helps them identify goals and they celebrate successes together. Again, Hope value this woth in the lives of young in the LurganlCraigavonlPortadown area and that is why we support REACH. Craigavon Youth for Christ Craigavon Youth for Christ is a failh-based organisalion passionate about meeting the needs of the young people in the Craigavon area and helping them be all that Ihey were created to be. Like Aspire and Reach, Craigavon Youth for Christ work with young people in the community offering programs and help to young people who are struggling. Hope is committed to organisations and charities that endeavour to make positive change in the lives of both young and old - Helping Oppressed People Everywhere. Reserve Policy The aim is to achieve a level of free reserves of £35,000, which the Trustees believe is essential to the ongoing WOTk and aEof the charity. Free reserves are those unrestricted reserves, not designated nor invested in fixed assets which areavailable for general use.
Hope (Nl) Limited (A company limited by guarantee, not having a share capital) Flnanclal Results The chatity generated a deficit of £8,270 after depreciatron in the current financial period. It has and will continue to be a very challenging environment for all Charrbes in Nothem Ireland, but the Trustees are confident that they can maintain the current level ofreserves over the next iwelve months ?nd have a financial and business plan in place to help them achieve this given the continued uncertainty faced by everyone with the ongoing cost of living crisis. At the end of the year. the company has assets of £138,433 {2022-£148,0631 and liabilities of£2,29312022-£3,653). Theréassets of the company have decreased by £8,270 Publ1¢ Benefit In setting our objectives and planning our activtbesforthe yearthe trustees have given carefrjl consideration tothe Charity Commission for Northem Ireland's statutory guidance on public benefit to ensure that the activitieshave helped achieve the charity purpose and provide a benefit to the beneficiaries. In accordance wsth the Artrcles of Association, the (tirectors retire by rotation and. being eligible, offer themselves for re-election. Compllance 1th Sector-we Legi51alton and Standards The company engages pro-actively wrth legislalion. standards and codes which are developed for the sector. Hope (Nll Limited subscribes to and is compliant with the following.. The Companies Act 2006 The Charities SORP IFRS 1021 Approved by the Board of Trustees on 13th December 2023 and signed on its behalf by: eonard Ada on Irls Loney
Hope (Nl) Limited IA company limited by guarantee. not having a share caprtal) STATEMENT OF TRUSTEES. RESPONSIBILITIES forthefinancial year ended 30 June 2023 The trustees, who are also director5 of Hope INI) Limited for the purposes of company law, are responsible for preparing the finanGial statements in accordance with applicable law and regulations. Company law requires the trustees as the directors to prepare financid statements for each financial year. Under that law the tTUStees have elected to prepare the financial statements in accordance wrth United Kingdom Generally Accepted Accounling Practice (United lQngdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporb'ng Standard applicable in the UK and Republic of Ireland" Section 1A (Small Enlitiesl. Under company law the trustees must not approve the financial statements unless they are sat%sfied that they give a true and fair view of the state of affairs of the company and of the surplus or defiGit of the company for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and apply them consistenly- make judgements and estimates that are reasonable and prudent, stste whether the financial statements have been prepared in accordance with the relevant financial repong framework, ident.fy those standards. and note the effert and the reasons for any material departure from those stsndards; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company WIS continue in operation. The trustses Confimi that they have complied wtth the above requirements in preparing the financial statements. The trustees are responsible for keeping adequate accounting re¢ords that are sufficient to show and explain the company's transactrons and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevents.on and detection of fraud and other irregularites. Approved by the Board of Trustees on 13th December 2023 and signed on Its behalf by: Leonard A am50n Irls Loney 10
Hope (Nl) Limited IA company limited by guarantee, not having a Share capltal) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF HOPE (NI) LIMITED I have examined the financial statements of the company for the financial year ended 30 Jurbe 2023, which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet and the related notes. Respective responsibilities of trustses and exarniner The company's trustees (who are also Ihe directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. The company's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. It is my responsibility to.. examine the financial statements under section 65 of the Charities Act (Northem Ireland) 2008., follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9){b) of the Charities Act- and state whether particular matters have come to our attention. Basis of Independent examinePs report I have examined your company financial statements as required under section 65 of the Charities Act and my examination was carrted out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9}(b) of the Charities Act. An examinalion includes a review of the accounting records kept by the company and a comparison of the financial stalements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees conceming any such matters. The procedures 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 presenl a 'true and fair. view and the report is limited to those matters set out in the statement below. In connection with my examination, no matter has come to our attention which gives us cause to believe that in, any material respect.. accounting records were not kept in accordance with section 386 of the Companies Act 20C the financial statements do not accord with those accounting records the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Praclice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) there is further information needed for a proper understanding of the accounts to be reached. Independent examinerfs statement I have no COnmS 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 financial stalements to be reached. Ruairi Maginn DALY PARK & COMPANY LTD Chartered Accountants 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland Date: 13th December 2023 11
Hope (Nl) Limited IA company Ilmlted by guarantee, not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES {Incorporating an Income and Expendlture Accounti for the financial year ended 30 June 2023 Unrestricted Funds 2023 Total Unrestricted Funds 2022 Total 2023 2022 Notss Incoming Resources Voluntary Income Activities for generating funds 9,001 232,617 9,001 232,617 14,474 213,275 14,474 213.275 Totsl incoming resources 241,618 241.618 227,749 227,749 Resources Expended Charitable activities 249,888 249.888 228.399 228,399 Net incomingloutgoing resources before transfers Gross transfers between funds (8,2701 (8,270) (650) (650) Net movement in funds forthe financial year {8,270) {8,2701 {650) (650) ReconcTliation of funds Balances brought fotward at 1 July 2022 13 144,410 144.410 145,060 145,060 Balances Carried forward at 30 June 2023 136,140 136.140 144.410 144,410 The Slatement of Financial Adivities includes all gains and losses recognised in the financial year. All income and expenditure relale to continuing aclivities. The notes on pages 14 to 18 fonn part of the financial statements 12
Hope (Nl) Limited IA company limited by guarantee, not having a share capital) Company Number.. N1053603 BALANCE SHEET as at 30 June 2023 2023 2022 Notes Fixed A55ets Tangible assets 109.296 112.687 Current Assets stocks Debtors Cash atbank and in hand 6.802 5,544 1,566 28,266 10 20,887 29,137 35,376 Credltors: Amounts falling due within one year 11 (2,293) 13,6531 Net CuTrent Assets 26.844 31,723 Total Assets less Current Uabllllles 136,140 144.410 Funds General fund (unrestricted) 136,140 144,410 Totsl funds 13 136,140 144.410 These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Forthe financial year ended 30 June 2023 the companywas enlitledto exemptron from audit under section 477 of the Companies Act 2006: and no notice has been deposrted under seclion 476. The trustees confim that the members have not required the company to obtain an audit of rts financial ststements for the financial year in quests.on in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuTing that the company keeps accounting records which compty with se¢tion 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profft and loss for the finoncial year in accordance with the requirements of seth.ons 394 and 395 and which otherwtse comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The financial statements have been prepared in 8ccordance wrth the provisions appli¢able to companies subje¢t to the small ¢ompanies' regime and in accordance wtth FRS 102 'The Financral Reporting Standard applicable in the UK and Republic of Ireland" applying Sectron 1A of Ihat standard. Approved by the Board of Trustee5 and authorised for issue on 13th December 2023 and signed on Its behalf by onard Adarnson Irls Loney The notes on pages 14 to 18 form part ofthe financial statements 13
Hope (Nl) Limited IA company limited by guarantse. not having a Share capitsl) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 30 June 2023 GENERAL INFORMATION Hope (Nl) Limiled is a company limited by guaranlee incorporated in Northern Ireland. The registered office of the company is 99 - 103 Union Street, Lurgan, Craigavon, Co. Armagh. BT66 8ED, Northern Ireland which is also the principal place of business of the company The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation lo the charity's financial statements. Basis of preparation The financial statements have been prepared on the going conrn basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordan with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As permitted by the Companies Act 2006, the company has varied the standard formats in that act for the Statement of Financial Acttvities and the Balance Sheet. Departures from the standard fomiats are to comply with the requiremenls of the Charities SORP and are in compliance with section 4.7. 10.6 and 15.2 of Ihat SORP. Statement of compliance The financial statements of the company for the financial year ended 31 December 2017 have been prepared on the going concem basis and in accordan with ihe Stalement of Recommended Practi (SORP) 'Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Incoming Resources Voluntary income or capital is included in the Statement of Financial Activities when the company is legally entitled to it. ils financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered eslablished when the company has been notified of a distribution to be made by the executors. Income reiVed in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accruals basis. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets. less their estimated residual value, over their expected usefijl lives as follows.. Land and buildings freehold Plant and machinery Fixtures, fittings and equipment 2 % Straight line 25Q/o Straighl line 259/0 Straighl line Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid nel of any Irade discounts due. Income recognised by the company from government agencies and other co-funders. but not yel received at year end, is included in debtors. stocks Stocks are stated at the lower of cost and estimated selling price less costs to wmplete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. Donated stocks are fair valued as described in (c) above. 14
Hope (Nl) Limited IA company Ilmlted by guarantee, not having a share capital} NOTES TO THE FINANCIAL STATEMENTS continued forthe financial year ended 30 June 2023 Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at banks requirrng less Ihan three months notice of withdrawal. Taxation and deferred tsxation No current or deferred taxation arises as the company has been granted charitable exemplion. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognised in respect of all timing differences that have originated bul not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the futurè. Timing differences are temporary differences between the company's taxable income and its results as staled in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on lax rates and laws Ihat have been enacted or substantively enacted by the balance sheet date. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2023 2022 Donations and legacies 9,001 9,001 14.474 OTHER TRADING ACTIVITIES Unrestrictsd Restricted Funds Funds 2023 2022 Shop Income 232,617 232.617 213.275 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2023 2022 Expenditure 235,918 13,970 249.888 228.399 SUPPORT COSTS Charitsble Activities 2023 2022 Depreciation Bank Fees & interest Finance & professional fees 3,391 3,239 3,391 3,239 7,340 3,391 3,559 6,080 13,970 13,970 13.030 15
Hope (Nl) Limitsd {A company Ilmited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 30 June 2023 NET INCOMING RESOURCES 2023 2022 Net Incoming Resources are statsd after charyingl(crediting): Depreciation of tangible assets Independent Examinels remuneration= independent examination services 3,391 3,391 1,300 1,300 EMPLOYEES AND REMUNERATION The staff costs comprise: 2023 2022 Wages and salaries Pension costs 97,293 6,633 94,741 6,825 103,926 101,566 TANGIBLE FIXED ASSETS Land and buildings freehold Plant and Fixtures, machinery fittings and equipment Total Cost At 30 June 2023 169.569 1,403 5,756 176.728 Depreciation At 1 July 2022 Charge for the financial year 56.882 3,391 1.403 5,756 64,041 3,391 At 30 June 2023 60,273 1,403 5,756 67,432 Net book value At 30 June 2023 109,296 109,296 At 30 June 2022 112,687 112,687 First Trust (AIB Group) hold a registered charge against all monies and mortgaged property situated at 99- 103 Union Street. STOCKS 2023 2022 Finished goods and goods for resale 6,802 10. DEBTORS 2023 2022 Other debtors Prepayments and accnjed in¢X*me 509 939 333 1,233 1,448 1,566 16
Hope (Nl) Limitsd (A company limlted by guarantee, not having a share capitsll NOTES TO THE FINANCIAL STATEMENTS continued forthe financial year ended 30 June 2023 11. CREDITORS Amounts falling due within one year 2023 2022 Trade creditors Accruals and déferred income.. Pension accwal Other accruals 689 2,138 304 1,300 215 1,300 2,293 3,653 12. RESERVES 2023 2022 At 1 July 2022 Deficit for the financial year 144,410 (8.2701 145.060 (650) At 30 June 2023 136,140 144.410 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds At 1 July 2021 Movement during the financial year 145,060 (650) 145.060 (650) At 30 June 2022 Movement during the financial year 144.410 (8,2701 144,410 (8,270) At 30 June 2023 136.140 136,140 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 July 2022 Income Expenditure Transfers between funds Balance 30 June 2023 Unrestricted funds General Funds 144.410 241,618 249,888 136,140 Total funds 144,410 241,618 249,888 136,140 13.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Total Unrestricted general funds 109,296 29,137 (2,293) 136,140 109,296 29,137 (2,293) 136,140 17
{A Company Ilmited by guarantee, not havlng a Share capitsl) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 30 June 2023 14. STATUS The company is limited by guarantee not having a share capital. The liability of the members is limited. Every member of the company undertakes to contribLrte to the assets of the company in the event of its being wound up while they are members, or within one year thereafter, for the payment of the debts and liabilities of the company contracted before Ihey aSed to be members, and Ihe costs, charges and expenses of winding up. and for the adjustmenl of the rights of the contributors among themsefves, such amount as may be required, not exceeding £ 1. 15. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial year-end. 16. INDEPENDENT EXAMINER'S REMUNERATION The indepèndent examinels remuneration amounts to an independent examination fee of £1.30012022 - £1,300). 17. PAYMENTS TO TRUSTEES The charity has paid £33,020 (2022 £30,125) to one of the tnjstees who is a fijll time employee ofthe charity and manages the day to day activities in the charity shop. Payments were also made to another Itustee totaling £6.040 (2022 £4,440) for accountancy and finance professional services provided. The supplemenlary information does not form part of the financial statements 18