Company.. N1627174 Charity.. NIC102220 Real Hope Limited (a Company limited by Guarantee and not having a Share Capital) Directors, Report and Financial Statements For the year ended 31 October 2023
Real Hope Limited For the year ended 31 October 2023 Contents Page Company information Dlrectors. Report Independont Examine¢s R&port to the Directors of R8al Hope Limited Statement of Financial Activities Balance sheet Notes lo the financial slatemenls 9-11
Real Hope Limited For the year 8nd8d 31 October 2023 Company Informatlon Cornpany number N1627174 Charity number NIC102220 Registered office address 63 Old Ballyrobin Road Antrim Co Antrim BT414TJ Tru5tges (who are also directors under company law) Pastor John Birnie (resigned 25 September 20231 James Hewitt Law Gayle Catherin8 Anne Pennant Iresigned 25 September 2023) Richard John Mayrs (resigned 4 June 20241 Robert Francis Hamilton Carey Orr (resigned 13 November 20231 Ken Gammon Marius Fritea (appointed 27 November 20231 Keith Mccrossan (appointed 27 November 20231 Secrelary Barbara Elizabeth Moisevici Bankers Ulster Bank Limit8d 8 Market Square Antrim Co Antrim BT414AT Independent examiner David Mcmullan FCA K8nvei House 1 Ballykenver Road Stranocum BT53 8PZ
Real Hope Limited For the year ended 31 October 2023 Directors. Report The directors present their report and financial ststements for the year ended 31 October 2023. Reference and adminislralive information set out on page 1 fonns p8rt of this report. The financial statements comply with current statutory requirements. the Memorandurn and Articles of Assoclation and the Statement of Recommended Practice Accounting and Reporting by Charities (effective from January 20191. Principal activities The companys principal activity during the year continued lo be to assist underprivileged children in Romanian orphanages and families who live in poor conditions in Romania. Objectlves and a¢tlvities Real Hope is a Christian charity whose main objects are= To show the love of Christ and lo assist the needs of socially deprived children from orphanage background and families in poor conditions in county Brasov. Romania by,. 1. Providing accommodation for children over 14 years of age Ifrom orphanage background) in order for them to attend day school and lo avoid the abuse that Is in the boarding 8ccommodation; 2. Build and maintain staffing needs, of a purpose built 12 bedroom home for children and adolescents leaving the care system. This will be a long term commitment: and 3. Assist families by providing food, clothing. and shelter as their p8rsonal needs require. A¢hlevements and performance The charity conlinued to run the self-susiaining farm, "Maudie's Fam", near Brasov where young men can live and work in a safe and supportive environment. The farm has four lemporary accommodations units but fund raising continues to allow the construction of a permanent building wllh addib'onal accommodation and facilities. Plans for the future The charity will continue to develop the skills of the men livlng on the farm and worf< to provlde them a small incorrie from the sale of farm produce. The charity will also seek to improve the farm facilits'es. Public benefit Th8 charity's objects are specifically restricted to th& following.. To assist underprivilegod ¢hildren in Romanian orphanages and families who Ilve in poor conditions in Romanla. Governing document The organisation is a company with charitable statsjs. The charity was incorporated on 10 October 2014. The company was es18blished under Memorandum & Artlcles of Association which outlined the area of benefit and the objects of the charitable organisation. Risk management Th8 directors have a risk management strategy which consists of establishing a system of identrfying risks and mitigating such risks. Financial Teview The results and perfom)ance for the year of Real Hope Limited are summarised in the enclosed financial statements.
Real Hopè Limitsd For the yoar ended 31 OGtvbor 2023 DireGtors' Roport Rgservos polioy It is the p¢Jlicy of the charity Ihat unrestricted funds that have not been designated for a specific use should be maintained at a level equivalent to two morrths, expendituie. The trustees consider that reserves at this level will ensure that, in the event of a drop in income. théy will be able to continue the chartirfs current activities while additional funds are ralsed. Stat•mBnt of r•sponsibiliti09 of the trustgps The trustèas, who are also directors of the chattty for lh8 purposes of company law, are responsible for preparing the directors, report and nanCIal sttteTnents in arLordance with applicable law and United Kingdom Accuunting Standards, including Financia Reporting Standard 102.. The Financial Reporttng Standard applicgble in the UK end Republic of Ireland (UK Generally Accepted AcLounting Prac*'cel. Company law requires the trustees to prepare finanaal statements for each financial year. which give a true and fair view of the state of affairs of the charty and of the incorT]e and trxpenditure of the charity for that period. In preparlng th¢se financial ststements the trustses are require¢J to.. select suilable accounbng poliGies and then apply thern consistently,. observe th2 methods and prinaples in the Charities SORP., mgke judgement5 and accotJnting estimates that are reasonable and prudent state whether applicable UK accounting standards and statements of recommended practice ave been followed, subject to any material departure5 disdosed and explained in the financial ststements; ond prepare the financial statements on the going Goncem basis unless It 15 inappropriate to presume that the charity wll continue in operation. The trustees are responsible for keeping proper aGcounts'rLq records which disclose wtt) reasonable accuracy at any time the financial position of the charity and which enable them to ensurè that the rinancial statements compty th the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the eharity ar hen for taking reasonable steps for the prevention and detection of fraud and other irregularrt¥es. The trustses are rosponsiblo for the maintenan¢e and iTrtegrlty of the corporate and finanesal Inforrnatson included on the charitable company's website. Legislation in the United Kingdom governing tre preparatton and dlssemination of financial statements may differ From legislatlon in other jurisdictions. The trustees are members of the charity btrt this entFlles them only to votrng rrghts. The trustee have no beneficial interest in the charity- Approved by the trustees on 28 August 2024 and signed on their behalf by rt~Cco£- 2É( y(2oLtr Trustee
Real Hope Limited For tho year ended 31 October 2023 Independent Examlnerfs Report I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 October 2023, which are set out on pages 5 to 8. Respectlve rosponsibilitles of charity trusts8s and examlnar As the charfty Iruslees {and also the directors of th9 company for the purposus of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies A¢1 2006. Having satisfied myself that the charity is not subject lo audit under company law, and is eligible for independent examination, it is my responsibility lo.. examine the accounts under section 65 of the Charities Act 2008. follow the procedures laid down in the general directions given by the Charity Commission for Northem Ireland under section 6519}Ib} of the Charities Act 2008-, and state whether particular matters have come to my attention. Basis of independent exarninerfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in aCrdan with the general Directions given by the Charity Commission for Northern Ireland under sectlon 6519llbl of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of th& accounts presented wtth those records. It also included considaration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees conceming any such matters. My role is lo slate whether any material matters have come lo my attention giving me cause to b&lieve'. tttat 8ccountlng records were nol kept in accordance wllh seclon 386 of the Companies Act 2006., that the accounts do not accord with those accounting records., that the accounts do not comply with the accounting requirements of the Section 396 of the Companies Act 2006 and the methods and principles of the Charities Staletnent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland., and that there is further information needed for a proper understanding of the accounts to be reached. Independgnt examinerfs statement I have completed my examination and heve no concerns in respect of the matters listed above and, In connection with following the Directions of the Charity Commission for Northem Irelarid, I have found no matters that require drawing lo your attenlion. David Mcmullan FCA David Mcmullan & Co Ltd 1 Ballykenver Road Stranocum Ballymoney Co. Antrim BT53 8PZ Dale= 29 August 2024
Real Hope Limited For the year ended 31 October 2023 Statement of Financial Activities (Incorporating an income and expenditure account) Total funds 2023 Total funds 2022 Note Income from: Donations and legacies 37,019 23,766 Total income 37,019 23,766 Expenditure on: Charitable activities 38,441 28,179 Total expenditure 38,441 28,179 Net income l (expenditure) and net movement in funds (1,422) (4,4131 Reconciliation of funds: Funds brought forward 19,127 Funds carried forward 13,292 14,714 All of the above results are derived from continuing activities. All of the charitys income and expenditure pertains to unrestricted funds. The charity has no other recognised gains or losses other than slated above.
Re?1 Hope Limlted For tho year ended 31 OGtobpr 2023 Balance She¢t Notès 2023 2022 Current assats Debtors Cash at bank and in hand 4,443 9,149 14,641 210 13,592 14,851 Uabllltlas CTeditors: amoLmts falling due vthin one year (300 137 Net current assets 13,292 14,714 Net assèts 13,292 14,714 Funds UnreBtricied funds 13292 14,714 Total oharity funds 13.292 The director5 are sattsfied that the company is entiled to eXptiOn from the provisions of the Componies Act 20W (thè Act) rBl8ting to the audit of the financial statements for the year by virtue of section 477(2}, and that no mnbr or members have requested an audit PLErsuanl to section 476 of the Act The directors acknowledge thelr responsibilities lor. li) ensuriTtg that the company keeps proper acc(Junting records which comply wth seBtiE>n 386 of the Art and lil) PTeparing financial statements which give a true and fair view of the state of affairs of the cotnpany as at the end of the finanryal yegr and of its profit or loss for the financi81 year in accordance 1th the requirements of seotion 393, and which othetwise comFly with the requirements of the Act relating to financAal statemenrf sa far as applicable to the company. Theso ac£ounts have been prepared in accordance with the special provisions applicable to wmpanies subject to the small companies. regime. Approved by tha tnJstees an 28 August 2024 and signed on their behatf by . rL- Cro£*t Trustee
Real Hope Limited For the year ended 31 October 2023 Notes to the Financlal Statements 1 Accounting pollcies Basls of preparation The financial statements have been prepared In aGcordance wth Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191- <Charitles SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Going concern basis of accounting The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties surrounding the charivs ability to conlinue as a going conc6rn. In¢ome Income is recognised when the charity has entitlement to the funds. it is probable that the income will be received and it can be measured reliably. Donated goods and servl¢es Donated professional services and facilities are recognised on the basis of the value of the gift to the charity. which is the value the charity would have been willing to pay for services of equivalent economic ben8fit on the open market. A corresponding amount is recognised in 8xpenditur9 in the period of receipt. In accordance with the Charities SORP, general volunteer time is not recognised. Funds a¢¢ounting Unrestricted funds are available to spend on any activities that further the purposes of the charity. Expenditure and irrecoverablg VA T Expenditure is recognised once there is a legal or constructive obligation to moke a payment to a third paty, it is probable thal selllement will be required and the amount of the payment can be measured reliably. Irrecoverable VAT is char9ed as a ¢2)st 8gainst the actlvity for which the expenditure was incurred. Grants payable Grants payable are charged in the year in which the offer is conveyed lo the recipient, unless the offer is ¢onditional. There are no support costs allocated lo grants payable. Allocatlon of support and governance costs Support costs are those costs which assist the work of the Charity but do not dir6ctly undertaké charitable activities. Govem8nce costs are those costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charitvs activities. These costs are allocated to charitable activities or raising funds on a direct basis. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued al the amount prepaid net ofany trade discounts due. Cash at bank and in hand Cash at bank and in hand includes cash and highly liquid short temi investm8nls.
Real Hope Limited For the year ended 31 October 2023 Notes to the Financial Statements l Accountlng policies Icontinuedl Credltors Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a Ihird party, and th8 amount due can be measured or estimated reliably. Creditors and provisions are valued al their setuement amount, after allowing for any trade discounts due. Financial instrumont$ The charity only has financial assels and financial liabilities that qualify as basic financial instruments. These are initially recognised at transaction value, and subsequenuy measured at selllement value. Cash flow statement The charity has taker) advantage of the exemption from presenting a cash flow statement as it qualifies, under the provisions of the standard, as a small charity- 2 Donations and legacles 2023 2022 Personal and church donations Gift aid Gifts in kind" 32.576 4,443 20,848 2,718 200 37.019 23,766 'Gifts in kind relate to the provision of independenl examination in 2022. 3 Total oxpenditure Raising funds Charitabla a¢tivities Total 2023 Total 2022 Grants payable (note 41 Staff costs (note 5) Land transfer Support costs Governance costs 24,335 24,335 7,264 20,333 13,500 306 300 13.500 306 300 382 200 38,441 38,441 28,179 There is no direct expenditure on raising funds. Support and govemance costs have been allocated in full to charitable activities. 10
Real Hope Limited For the year ended 31 October 2023 Notes to the Financial Statements 4 Grants payable 2023 2022 Grants to indivlduals Grants to Institutions.. Asociatla Real Hope 19,600 4.735 7,264 24,335 7.264 Grants to individuals These relate to salary payments for Marian Moisevici, as set out in note g below. Grants lo institutions Asociatia Rgal Hop8 {CIF 34759987} is the Romanian sister charity of Real Hope Limiled. All grants payable ar8 to fund the chariws direct work in Romania. 5 Staff costs 2023 2022 Gross wages 20,333 2023 No. 2022 No. Average head count 6 Debtors 2023 2022 AccNed income Other debtors 4.443 1,141 13,500 4,443 14,641 7 Creditors 2023 2022 Accruals 300 137 8 Nèt movoment in funds 2023 2022 This is stated after charging.. Trustees, remuner8tion Trustees, reimbursed expenses Independent examination fees Nil 300 200
Real Hope Limited For the year ended 31 October 2023 Notes to the Financial Statements 9 Taxatlon The charity is exempt from corporation tax as all of its income is chanlable and applied for charitable purposes. 10 Relatgd party transactions The charity made payments of£19,600 to Barbara and Marian Moisevici during the year, who are Ihe daughter and son in law of former trustee, Jatnes Hewitt Law, for their direct work for the charity as missionaries in Rom8nia. Marian Moisevici was directly employed by the charity during 2021122, and received payment of £20,333 as wages during the prior year. These payments were made in the furtherance of the charity's aims and objectives and were approved by the trustee board. The charity previously held funds lo purchase a piece of land in Romania to the value of £13.500. This ha5 now been passed to Barbara and Marian Moisevici lo purchase Ihe land on behalf of sister charity, Asociatia Real Hope. in Romania. The land has been leased to the charity for them to use in furtherance of their aims and objectives. 11 Liability of the members In accordance wllh the company's Memorandum and Articles of Association, the members oflhe company have each undertaken lo contribule to the assets of the company in the event of it being wound up an amount not exceeding £1. 12