ComEWry registration nullLLrr'. N1634605 Cbarity rewtioll J]uTnber:NIC104718 Hope365 (A eoD]pany limityl by guarnntee) Rwrt and Fit]allcial Ststements for the Year Ended 31 October 2023 TB Millar & Co IDdependeDt Examiner 6 LX)agh Road Ballyclare BT39 9BG Hope365 Contsnts RefeTence alld Adn?Jj￿trats.ve Details Tntstees, Report 2to7 Ind¢pendent Ex8mioer's Report staten￿nt of Financial AotiNuties 9tolO BaKance sI￿t li Notes to the Financial Statements 12to22 llo￿365 Reference and Administrative Details Trnstets Ricbatd Crowe Stephen Hunter ChJistophw Jamison Charity Registration Nunther NIC104718 Con￿%￿Y Registration N1634605 The Gbanty is 3Jxx)4KY￿tea in Northern keland. 6 Doagb Road BallsJclare Registered Offjee BT39 9BG Principal Office 73-75 Main Street Ballyclare Co kntsim BT39 9AA Independent Exam¥tier 1ndc￿L(knt Exami 6 Doagb Road BalliFclare BT39 9BG Page I Ho Trnstees. Report The InL8tees, who are a1￿CtOrS for the puwcs of ci)mpany law, P￿sent the annuat rep)rt together d Fllwi¢Aal ststements and auditors, TeExirt of the cb2ntsble cotnpm!, for the year elldAxl 3 1 October 2023. The Trustees confinn that they compty Trith the requirements of the Ckmrities Act (Northern Ireland) 2008. The Ch8rities (Allnual Retum) Regulations (Northern ]Teland) 2015, The ch￿ltieS (Annual Retum) Regulations (Notthern Irelanffj 2015 and AccO￿]ng and ReP)Iti￿ bi. Clwities". StatetDeELt of Recouunended Practice wknch appltes to charities PrepaTI￿ theiT accounts irt accordance witb the Financial Rep)rting sthnd￿d &pplieable in the UK and R¢public of Ireland (FRS 102) (effective l January 2015). THAM(YOU As I look back 0￿￿ tILe prevÈous 12 nKsntbs, l allL so th30kthl to God to see what has ￿eTh accomplished. Without the wfjolehearted supwt of so tuany people would not ha*"e been able to see such pmgress. Whether tbrougb Vol￿teering in one of our shops. tsking on fi]ndtaisitig activities. jOlDing our "Shareholde¢' scheme, our 'f)ne to Oue- cbtld sponsorship schellle or in whatever way, the me&sage is the sgme.. THANK YOU.7 I have again had thE ￿1vIlege of seeing first-hand the change in the hves of matLy of the chddrern in Ethiopia at this yeaT we w¢tr able to bTing a team ol 16 to see foT t}￿n￿1VeS dle challenges facillg Ihe vulllerable kids. This team gave the children an incredible w*k of new activities including SP)rts, crafts, singing and Bible based activities. It genuin¢ty humbljng to See Ix)Vé" much all the children appreciated the ￿lSIt from the teatn and also to see how the cknldren from the very begiDDin8 of the project have now 8towi to Ix great role models for the younger children. MichaelHolmeJ, ChiefExecutive STRucfuRE, GOVERNAflCE & MANAGEMEFIT Hope365 is a regstered charity in Northern Ireland (NIC104718) and a fully licetLs¢d Intemational NGO (Non-GovemmetLt Organisation) in Federal Democratic Republic of Ethi'opia <3730). Hope365 is a company lituited by giiarats. TDJStees served (knring the year were as follows". Alistair Bennett (apy)inted 17.01.24) chard Crowe Siephen Hanllll Stephell HuLrter Clllis Jamison Chief ExecutLve.' Michael Ho]mes Finance Officer: Diane Davidson Tkke Snts are restDllsible for the overnll governanr£ of tbe charity. The of tr￿stee$ shall not less TRUSTEE SELEcfIoN, ApPoIr￿iE￿T & COMPEfENCE When a TrLts vacancy exists. the current T￿￿ Mryll appoint a repla¢enrnt or additional Tnthe. At the Tnjstees, Meeting on 17 January 2024, TB Millat were re￿p￿)inted as external independent exatlliners for the period l Novetllltr 2023 to 31 (ktokn 2024. Page 2 Hope365 Trustees, Report Fll¥ANCIAL REVIEW AND RESi)LTS FOR THE YEAR The results for the yeat alld tbe charity's financial wsition at the end of the ycat are sllown in the attAched fitssnoial statements. RISK MANACEI¥LENr Risk is att everydaj part of tk Charity's norn]Jl acti￿ty. Tb¢ TnLStee8 ha￿e considered and identsfied tbe rnajor risks to which the cbarity is exp)sed aud haviDg tkn appropriate professional advice have Ixen a&8ured that adequate $ySten￿ aThl prooedures are In place in OTder to mitig8t¢ or those rAsks. RESERVES POLICY The ch￿Lty does not have a reserves wlicy. PENSIONS The charity 0￿rateS a defined cotttribution [￿nsIOn ￿hey￿e (3thtch meets the reqluretnents of The Pension Regulator as a qllaltying workplace pension scheme) for the IKnefrt of its staff and those itho are elij(r ble under Auto EnroImenL The assets are *thim"stered by itksutan(t ¢ompames in F¢rsonal pension plans and are held inde•tly from those of the cbaTity. ContributiOL8 are charged to the Statement of Financiaj ActiNTties in the wiod to W￿ch thev relate. STATEMENT OF COMPLIANC In setting our activities and plartT)ing our activities for the year the trtts have given careful c<)nsiderdtiou to the Charity Commission foT Northern ITeland's guidajwe on pubh¢ benefit to ensure that the activities have helped to acb3eve the ch&rity's pw>0￿ ar￿ provide a ￿tLefi[ to the beneficiaties. PURPOSES Hope365's purpose is to ￿scUe and oare for Stre£t kids iti EthiopiL aim is to PFovide for th¢ ph}rsiGal, emotional, spiiitual and e(lucfttional of tbe children. Our int¢ntioll is to help each child realise they are loved by God and ackneve their potential: being 74tll equ1W￿ for adult life and making a w￿ltiVe contribution Éo tILeir loc41 ¢omtllEmity and coullty. There 15 no haTUL &qsociatsl with the puw. The ch￿ity's ￿neFICiatieS ate". The Poorest chil13ren and young people of Shashan)ene in Etkn'opia ore homeless and yleeping on tbc streets of the citv. PRIVATE BEf4EFrr The only wivate benefit arising in the period wa5 the remunerdtion of tknse employed to Ellat￿e and 0￿rnte the charity iK)th in Northern Ireland and in Ethiopa. This benefit is inoiaental to and does not outweigb tbe public benefit. Page 3 HO￿65 Trnstees, Report PUBLIC BENEFIT AND REVIEW OF THE YEAR During the perioys and gtrls ill Sbashem¢ne incluthg many f<)mTrr Street Kids. This year we bal'e ijfiroduced the pro￿510Th of bre4J£asts for the cbtldren to address problem of cbildren fatnting witb hunger in the mornings. Tkns current school YC￿ (cO￿U￿0]ng Sep 2023) Ilas seen 378 wlnerable children resistered in tbe Hope365. Page 4 Hope365 Trnstees, Report OUR FIRST PROJE￿. Trnnsition Centre -Tesfa ManorÉya Bota . Glope Home) is a great faciIity Mthich has the capacity to sleep up to 20 Iws at ally one tiTne. All children are refewed to ￿ by Shashemene Woll￿1.8 & Cbiidren's Atrairs ITE corÈjullction with the local Police Force. Tesfa M8noriya Bots is ceELtral to our project as it acts as the stsrting FK)illt in a journey of ho￿ for street TkLere 8re two strands to our Project Prop)sai. (i) Long tenn care for Street Kids who Iwve one able to care for thellL (u) Reunification of Street Kids with exteth fattllly nkn. The staff team kL2ve come together well throughout the year and bave crea￿j a very loving ￿N￿ronMent for 811 the cbildret4 whether lollg tern) or sb)rter ternL A variety of techDtq1￿ includin8 play tberapy. dr&nH, art tberapy etc. are used by our stsff to help u￿00k the backgrounds to the stories of each of these Indi￿a￿aL chil(trerL All children hai'e full medAcal Gheck-ups and enjoy a well-balanced dieL slLowering faciknties and new clean clothes. Strand l.. IA)ng terni rar When children aTe referred to us by the local uovetnment assess each iDdividual case to detertttine the best possible long-tenn plan for the ohild. (kn staff team ir￿ludeS a psyc1w10￿¢ social ¥w>￿eT, counselling staff, naDny's etc. as well as expeEienced projectnwws etc. GROUP HOMES Where there are no family ]iDks, or Thfiere reunification 147th extend￿ family is not FK)ssible, Ive Thill foTm "Group Homes-. These Teplicate as closely as p)ssible a tradIts"or￿ family environment with our ycially trained live-in nanny's and L4) to ten children. The Children all attend sch(x)l and ch￿ch and esselltially ￿0W together as a faTDily as part of the local coll]Mu￿ty., thereby elinjinafxng ally gti8ma of 'iDStitt￿0naI care", Tkns yeaT we opened a third Group Honw and so now care for a total of 30 orplL8]Led childrem Each Group Home owdes care for 10 orph8ned Street Kids. The hones have been owatin8 very successfully all tbe ix)ys havi￿0 a very stable environment. Wt Tented suitable homes and trained attd enwloya house parents to live WLEIL atKI care £or the boys. Iu line with Ethiopian Government w*licies the "fan)ily" is itLtegrnted into the local coxntnunity The tK>yS are really enjoying dM"s safe, stsble emlir0nm￿t and aTe tF)Tiving at school. Tbey continue to have psycho-g)cial irwt fro￿ OUT Staff but are rem8knbly iTrEll adapted after bavillg 5pettt so lollg on the stteets. Outside in the oarden the boys bave l*en Le￿lling about growing vario￿$ vegetables and how to Totate the p]anting to Ermximize yield . After detailed investigations thTougbout previo￿ y&vs we bave established that 30 of the children in our c￿£ have no one to ￿e for them atKI so reunfficatson will be imEK>ssible. . All have been e￿Olled in schools in Shashernene where thev Thill r￿XiVe an excellent educatso￿ includirtg at the Hope365 Academy. The i¥>ys live Éti one of our Thup Homes" Thtsere they bave settled extremely well at still receive e-psyclw10￿Cal support from our staff team. All have been -vttified as Ixing orphans by the releTr8nt Goven)ment department (Women & Cbildren's Affairs) . Given the Iws, oir¢uTnstauces the choice of school ¢Tucial aod so we ensure the Larers med 7th the teaGh¢rs to engttre their gixTrd wogress ￿nI￿nueS. . All the bovs are all aCti￿elY inTrolved in doing chores arO￿a tbe house such ￿ b￿￿kning Iloois, washing clothes, doing dLshes ets. to help proTride as ttormal an upbnngwg as possible. Even a simple request like asking tmission to briDg school frieuil8 home to play are a vcfj. healthy sign that the boys re&lly do feel secure and that their lives bejng norn]a]ised Pag¢ 5 Hope365 Trustees, Report Strand 2: Re-unification ofkids to exlended family Where appropriate and a biological faD)ity ￿lSts. we believe it would i* itt the cluld's best interest to reunite them Mqth blood relatives. However. one major challenge relates to tbe family's ability to provide adequately for the chil(L Many kids are on the streets because families ate SiULply too poor to caTe for One way of helpll]g wceesSfi￿Y reuntte a chdd into a faTDJty lon8-terLll 18 to come alongside the f8mity alld help them. Our to One" Child SEX)nsorth'p PTogvtm for reullited childreo as the Dame suggests, encourages spollsois to support one ycific ¢hild and Ill's famity Trith a n￿nthty Direct Debit of £20. Thts n￿neY is used to ITI￿rOve the quality of lif¢ not onl}, for the cbild but also for the famÉti'. Typically. we use tbe to prowide food 2nd clothing. We also provide edllcatii)nal resources gnd meth.cal support elc. With no Social SeThq"ces ill Ethiopi4 it is our responsibility to ull(k￿¢. home as%sytnetrt Nrysits before TeuDÈtill8 a child. We aTe also resEX)nsible foT Tegular follow up visits to ensll￿ the re￿ifICation is continwng to be successful. Given the geograplLical spread of the reunited childreo this 18 a si￿lfi&￿t cballenge. . We aTe deligbtsd to have reunited well over 250 ¢hi]dren wKtb memtws oftbeir biologicat family. ODce reunit¢d we cov¢r th¢ associated educational oosts of ensur]￿ the child goes to school. • Some of these children come from nual areas OU￿"de Shasbemene wbile otheTS live MqtbiJ3 the towi limits. * Approxirnatety 30 families of reunited children have so I￿efittttd frollL the Itkcome Generation Micro Fillance Loan scELellLe aud perfomwices have Ixcn ellcoutaging as have tELe repaylllent of loans in a timel HOPE ACADEMY We are del@Ited wilh the Fwgress of the Hope365 Aead¢my. This school comprises 8 cIassrooms for 8Tade students and 3 c]a8sroOn￿ foT the KG pupJJs plus a school 0￿. All grad¢ pupils have a (listinctive sd]ool uniform wbich they PToudty wear. . 378 pupils (EK>th boys and girls) aged between 5 8nd 14yrs &re now receivJn8 a good education as well a nutrilious hot meal each day. Provision of breakfast has now als<) Ixen introduced to help tbt children learn effectively. Reunited Street Kids live ¢lose enough are admitted into the HOF Academy in line the striot admisslon criteria develoExd in conjunction with the lo¢al governm￿ autbonties. . The staff team ¢omprise$ 23 tea¢hers ond swrt staff. Trnsttrs and offieers Tkne tnkn aod officers serving duriDg the year and siuce the year eThl as fottows.. T￿￿ees. Richard Crowe Step1￿ ll￿ter Step1￿Th H8mill Ahstsir Bellnett (apwinted 17 January 2024) Page 6 Hope365 Trustees, Report Plans for the future As plan for the fiLtUTe we ¢OmDJitt&J to exEYanding the number of clothes donations Ex)illts alld shops. We also plan to grow our Child Spynsorsbip pro￿&m￿le &nd oth¢r yTh)nthly subscriptions sc]Mlles. Sjnall companies provision statemtnt This r¢port has been prepared io accordallce with tbe stuall COmE)anies regime under the Cotnpanies Aet 2006. Stsphen Hamill TTUStee Page 7 Ho￿365 Independent Examiner's Report to the trustees of Hope365 ('the Company,) I rewrt to tbe ¢haTity tntstees on my examinabon of the accounts of Cou¥TrallJ for the year ended 3 1 October 2023. Responsibilitxs and basis of ￿pOrt As the chatity's trustees of the CoD¥w (and aLso its ditectors for the purpoges of cornp8ny law) you aTe TestK>nsible for the prep8Trtion of the ac£ounts in accordance with the Fequirements of the Charities Act (Northem Irel&nd) 2008 ('tbe 2(K)8 Act ) and the Conwies Act 2006 21X)6 Act,). Yoll are 8ats¥tfied that the accounts of the Cojnpany are not requiTed bv cl)arity or company law to be authted and have chosen instead to have an independent examillatson. Haling Satisfied tllysejf that the accounts of the COMEW are t￿t ryired to audited ￿der Part 16 of the 2(K>6 Act and are eligjble for jllde￿t examinatio￿ I in reyct of my examination of YOUT chatity's accounts as caThied out section 65 of the 2(X)8 Act and sectirne exceeded £250,0(KJ your ex¥miller must be a of a body listed in section 145 of the 2011 Act. I conflrm that I am qualified to undertake the exarrllrthon knause I am a mem of chart￿ed Accollatants helarf thich is oue of the list¢d bodies. I haie cotnpleted my extiminatson. I confinn that no Tratt￿3 h&ve com¢ to attention ID connection with the examination me cause to Etlieve" accounting re￿r￿4 ThEre Dot kept in re4xct of Hope365 as r¢quwed by section 386 of the 2006 Act", QT 2. the aLcounts do not accord with those records" or 3. the accounts do not Qoyx￿ty wilb the accoimting require[t￿llts of section 396 of the 2006 Act other than any requirell￿nt that the accounts give a 'true and fair view thbicb is not a matter considered as part of an independent examllwtion. or 4. tELe accounts have not Ixen prepared iu accordattce with the meth(ds and ptiociples of the Statell￿nt of Recommended Practice for aw)unting and reporting by charities [appkncable lo clwities preparing their a¢coutLts in accordance with the Financial Report3Dg Stalld￿d applicable in tELe UK aud Republic of Ireland (FRS 102)]. I have no concenis and have cojne across other mattets iry connection the examination to attention should be in this report in order to ¢nable a proEtr understanding of the accounts to ￿ reache Examiner ccoulltants Ire]and Ch Ballyclare BT39 9BG 22 April 2024 Page 8 Hope365 Statement of Financial Activities for the Year Ended 31 October 2023 (Including lllcome and Expenditure Account and Statement of Total Recognised Gains and L•sses) Current Y&gr 2023 UnrestrActed fi￿d5 Restricted fimds Total 2023 Note Ineon* and KDdtswn*nts from". Douations aDd lega¢i¢s Charit&ble activities Other trading activities 95,772 31,841 10.320 127,613 10,320 355,569 355.569 Totsl incorThe 451,341 42,161 493,502 Expenditure on: RaisEng funds Charitsble activities (3(X).li2) (174.017) (300,152) (201.795 (27,778) Total exFnth'ture Net (exE*nthture)Im¢ome Net UK)vement in fimds (474,169) (27,778) (501,947 2,828 14,383 ￿445) 14.383 (8.445) (22,828) Reconciliation of funds Total finds brou8ht forTh*rd 39,499 21,416 60,915 rotal fullds carried forn*rd 17 35,799 i2.470 The Dotes on pag¢s 12 to 22 forni an illtepl wt of these fu￿]¢181 statements. Page 9 Ho￿365 Statement of FiBancAal Activities for the Year Ended 31 October 2023 {Induding Income and Ex￿ndItUre Account and s￿tell￿nt of Totsl Recognised Gains and Losses) Prior Year 2022 Unrestricted Restrieted runds Total 2022 Note Income and EndoTrYmffjts fro Donations and legacies CharitAble aCti￿tieS Other trading activitses 81.452 12.677 6245 94,129 6245 262,310 262,310 Total income 343.762 18.922 362.684 Expendithre on: Ratsing fim(l% Chantabl¢ activiti&8 (266.658) (90,373 (266,658) (97,879 (7,500 Total exFtndiÈure (357.031 (7.506) (364,537) Net (eX￿nditUte)1lllC(>ll Net movernent itt fu￿]$ (13.269) 11,416 1,853) (13269) 11.416 (1,853) Reconcil￿110￿ of fi￿d5 Total fLmds brought fonwd 52,768 10,000 62.768 Total fun& eaTtied foTward 17 39.499 21,416 All of the charity's actiTrities daive from continuing oimliorLS duriD8 the aEKive two periods. The fi)nds breakdown for 2022 is show] in notr 17. The notes on pages 12 to 22 fornl all inte￿1 p&rt of ￿se financial statemeuts. Pa8e 10 ope365 (Registration number: M634605) Balance Sheet as at 31 October 2023 2023 2022 Not¢ FiA¢d assets Tawble assets 13 12572 15,744 Current assets Debtors Cash at bank and xn hand 14 15 11,705 34.853 17,250 46,558 il.025 Creditors: Aniounts falling due WAthin one year 16 5.854) Net curnt assets 39,898 45,171 Net assets 52,470 60,915 Funds ofthe d￿rAt¥. Restiyeted ineojne funds Restricted funds 35.799 21.416 UnrestricS¢d income fonds Utrestricttsl funds 16.671 39,499 Total funds 17 52,470 60,915 For the finallc￿l year endthg 31 &toi*r 2023 the charity wds ¢nts"tied to wxemption from audit under section 477 of the CornE)tiDies Act 2006 ￿latill8 to small COMF￿nIes. Directors, resEK)nskbiiities: The rnemE£ts have tK)t required the ¢barity to obtsiu aEL aL￿1t of its accouttts for the year ￿ question sn aecordance with section 476" and The directors acknowledge their Tespnsibilities for cor£￿ty1￿8 tbe requiren￿ of ts Act respe¢t to accounting records and the Pre￿ation of accounts. These fLnancial statements have IKen p• in accordance with the s￿1&1 provisioDS relatLng to companies sllbiect to the sD]all companies re￿ Thithin Part 15 of tt￿ CompaDies knt 2006. The f]t)8ncial ststerllents on pag&s 9 10 22 were approved by tbe hi￿ees, and authorised for issue <)n 22 April 2024 and sI&￿a on Ibeir bebalf ty.. Stephen Ilamill TTh￿ee The noles on toges 12 to 22 foTm an integtai part of Ih¢se financkal swetllents. Pagell Hope365 Notes to the Financial Statements for the Year Ended 31 October 2023 I Charity staths The charity is liJ))ited by gu8Trntee, inco[￿rated in Nortbem Lrejand. and c4)nsequently (k)es not have share ¢apital. Each of the is liable to contribute an arnount exceediDg £1 toiwds the a￿ts of the ck)arity in the ¢vent of liquidatson. The addTess of its registeJed offic£ is.. 6 DO￿ Road Ballyclare Co Antrim BT39 9BG The principal place of buw&8 is". 73-75 Main Street BallYcl￿t Co Antrirn BT39 9AA These financial staternellts There authorised foi issue by the trustees on 22 April 2024. 2 Aee&unting poliues of significant aecomnting poliefies and kq aeeounting estimates The princip21 accounting EM)licie3 appts'ed in the preparation of these financial statellLeELts are s¢t out ￿lOw. These w>licies bave been eQDSiStentty applied to all the ye8rs presentrl unless otheThose state Staten*nt of compliance The fllwL¢ial slatellLellts bave beeEL prepared irt accordance with AccouDtii)8 ona Reportsng by Ckwities". Statement of R¢xommellded Practice (appli¢&ble to ch￿ltieS preP￿]ng their a¢¢OUllts in accordanoe with the Fitsanc￿ RepottiDg Standard applicable in tbe UK and Republi¢ of Ireland (FRS 102)) (issued in Octokn 2019) - (Chartties SORP (FRS 102)), the Fin8n¢ial Rewtifjg Standard applicable in tbe UK and Republic of ITelaud (FRS 102) and the Companies A¢t 2006. Basis of preparattom Hope365 meets the defmition of a public i￿ri[ entity un(kr FRS 102. Assets and liabthties are iDiti&lly Tecognised at histoncal cost or trans&etion Val￿ unless otherwise ststed in the relevant accounting ￿lleY notes. Golng ¢on¢¢rn The I￿￿e$ consider that there are no material unce￿e8 alx*Ut the ¢l]8Tity's ability to continue as a 8oin8 concern noi any sigllificaot are&8 of that affect the G￿rYing of assets held by the charity. ID¢on)e and endoivments All income is reco￿lSed once the charits has entitlement to the incoll￿, It is probable that the inwme wilk E Teceived aThl amount of the income receivable can Ix measured ￿lIablY. Page 12 Ho Notes to the Financial Statements for the Year Ended 31 October 2023 Donations and legacids Il)natioDS are ftco8n]sed w￿n tbe cbarity has Trxen notified in writi￿0 of knth the amount and Settlement dat¢. In the event that a donation RS wbiect to conditions that require a level of wforniallce by the Oh￿lty E*fore the charity is eutitled to the futlds, the income is deferred and not recognised utttil either those conth"tsons are fully met, or the fillfthnellt of those conditions is wholty" Trithin the control of the Ch￿Tty and it is probable that these conditioyjs will be fiAfilled in the rewting tkrio(L Expendi￿re All ex￿ndituTe is recogDised onoe there is a legal or coustnlctivt obligation to that exp¢nditure, it is probable settlement is Tequired and the an]ounT can be FLwsured ieliably. All costs are allocated to the applicable expenditure heading tbat a8￿Sale similar costs to that calegory. ￿￿ere costs camwt Ix directly attributed to Pa￿c￿lar beadw they have been ￿li)0&ted on a basis cofASiStent ￿7th the we of iesoutces. with central staff osts allocated on the basis of time sp￿¢ &nd depre¢kation ¢barges allocated on the EK>rtion of the asset's vse. Orher suptort costs are allocated based on tb£ swead of staff costs. These ate Costs illcu￿ed iu attraclitig vol• incon￿. the m8tsqgunent of investrneDts and those incuTTed in tradu)g activities that rdise fiuLds. Charitable actwilies Charitable exF¢nth"tutt ¢omprises those costs IncU￿ed by the cbarity ill the delivery of its actiTrities and setvices for its bgnefici￿j¢$. It includes lJ)tb costs that cao ￿ allocated directly to such acttwties and tbose costs of a indirect nature necessary to suv￿rt theDL SupporÉ (xtysts Supwrt costs i￿lUde celltrnl functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for exanu)le, allocaling PTOFCrty costs by floor a￿a$, or peT ca￿tr. staff costs b} the tI￿e spent and Oth￿ costs by their wage. Governanee eosts These include the costs attributable to the Gknity's ¢ompliance with constitutional and stattktory Tequiremettts, includiDg audi¢ strategÈc n￿￿¢￿ellt and trustees m￿￿￿S and TeimbuK¥ed expenses. Taxation The charity is considered to pas8 the tests set out in P4ragrapb I Schedule 6 of the Finance Act 2010 and therefore it nrets the definition of & ckwitable company for UK oorporation tax puryoses, Accordmgly, the cILarity is ryjtentialty ¢xempt from taxation in restKct of inWllLe or capital gains received ￿tegOrieS Covered by Chapter 3 Part I l of the Corporati(pn Tax Act 2010 or Section 256 of the Taxation of Chargeabl¢ Gains Act 1992, to the extent that wch income or gains are appliedex¢lwively to charitable purposes. Page 13 Ho￿365 Notes to the Financial Ststemellts for the Year Ended 31 October 2023 Tangibk fixed r4ssets Indifvidual fixed assets costing £0.￿ or are initiallv LEcorded at cost. less any subseqtwlt accumulated depreciation attd subsequent accumulated impairnTht los￿. Depreciation is proTrided on taDgible fixed assets 50 as to ￿￿te off the cost or valuatioo le&8 any estimated residual value, over their expected useful econollll¢ life as follows: Asset dass FixtUTes & Fittingg Office Equipment Motor Vehicles IkpreciatAon method and rpéte 250/0 Reducing Balance 2IY/o Reduoing Balance 25tl/ts Reducing Balauce Trnde deb¢ors Trade debtors aTe aTnounts due froLU CUStomerJ for mercbatLdise sold 01 setvices FrfOnI￿ in tbe ordmary COUTse of b￿8IneSS. Trade debtors are recognised initially at the lrnDsaction price. They are subsequently measured at amortised cost using the effective interest Metho￿ le￿ provision for impairment. A provision for tILe in4)aThent of trade &btors LS estabb.sbed Ethen there is objective eNidence th&t the ckwity will not be able to collect all amounts due according to the oyiwl terms of the ieceivables. Cash and eq￿l¥a￿ts Cash and cash equÉvaients Compr￿ c8sb oll hand and oall dewsits. and other short-temi bigbly liquid inV￿tmentS that are readily C4)nvertible to a kuown amiXULt of cash and are subject to an iA%wific&nt risk of Change in value. TrAde ereditors Trade creditors are obligations to pay fof goods or serriGCS that have acquired in the ordinary courw of business from suppliexs. Accounts Foyable are classified as curreut liabilities if the cban.ty does noi have unconditional rigbt, at the end of tbe reporti08 [)erio￿ to defer Settlett￿llt of the creditor for at least twelve months afteT the ￿p)It￿8 date. If there is all unconditional right to defer settlement for at least twelve months &fter the re￿rtillE date, tbey are present￿ &$ DOn-cU￿ent iiabth"tÈes. Trnde creditors ar¢ recogDised ioitialty at the trans&¢tion Eyice and subsequently measured at atuortised cost usin8 the effeCts￿e Interest meth(d. Pa8e 14 Hope365 Notes to the Fin2ntia] Statenknts for the Year Ended 31 October 2023 ForeÉgn eth&￿ge Transactions in foreign currencies are reJwted goods 8lld 355.569 355,569 262,310 355.i69 355,)69 262,310 Page 16 Hope365 Notes to the Financial Statements for the Y&qr Ended 31 Oetober 2023 6 EJpeDditsre OD raising fands a) Costs of generating donations and legacie8 Unrestricted funds General Total 2023 Total 2022 ote Other d￿ect costs of generatI￿tr voluntary income 1,711 1,711 23.245 197 20,211 Allocated SUPEX)rt Costs 24,956 24,956 20,408 b) Costs of Irading acti*ities funds G¢neral Total 2023 Total 2022 Note Legal fees Morketing and publicity Depre¢iatioJ4 amoTts"satson and other similar costs 0￿eT direct wsts of activities for generating f￿d8 Allocated SUPFOrt costs 2.935 5.490 2.935 5.490 1.875 5,132 3.838 3,838 4,809 68.893 194,040 68.893 194,040 65,774 168,6&) 275,196 275.196 246,250 Page 17 llo￿365 Notes to the Fioancial Ststements for the Year Ended 31 October 2023 7 Expenditure on eharitable acti*ities UnTr$trided nds G*neral Restrwted funds Total 2023 Total 2022 TMB Centre, HO￿ Acadenty 8nd Group Homes Governance costs 172.652 1.365 27.778 200.430 1,365 96,629 1.250 174.017 27,778 201.795 97.879 £172,652 (2022 - £89,123) of the aknve ex￿iditUrC Twas attriEq]table to unrestricted fun(L8 and £27,778 (2022 - £7.506) to restricted fuuds. In addition to the exFnditUTe atLqlysed above, there ate also govemance costs of £1,365 (2022 - £1250) Thd]ich relate directly to charitsble actI￿￿eS. See llote 8 for furt}￿ detsils. Anatysis ofgovernance and support costs Support eosts aih)cated to Taisiog fands Basis Finance IDforniation tedlnolw Staff costs Administradon Total 4xtysts Total 2022 2023 alloca￿￿ Costs of generatiD8 donations aud legacies Costs of traLting tivities 649 443 21,355 798 23245 20,211 5,416 3.709 178221 6,694 194.040 168,660 6,06) 4,152 199.576 7.492 217,285 188,871 Basts of allo¢ation Referenc¢ Metbod of allocation Percentage of stsff costs Page 18 HO￿65 Notes to the Financial Statements for the Year Ended 31 October 2023 GovernaDee costs Unrestrieted ronds Tots 2023 Total 2022 Indepelldent exawineT fees Examination of the fi[wic￿E ststements 1.365 1.365 1,250 1,365 1,365 1,250 9 Net incomingloutgoing resournrs Nel outgoing resouTces foi tbe year ￿Clude. 2023 2022 Depreciation of fixed assets 4,054 4,808 10 T￿￿tee$ remuneration and expenses No tntss hAve ￿re1Ved auy LEimbur8ed or any other Ixnefits from the charity duri￿[F the year. 11 Indwndent ewuiner's TenmlleratK•n 2023 2022 Examination of the financial Staten￿llts 1.365 1,2iO Page 19 Ho Notes to the Financial Statements for the Yvar EDded 31 October 2023 12 Taxation The charity is a register￿ cl)aTAty and is tberefore dxempt from taxatio 13 Tangible fixed assets equipn*Dt Motor Trehieles Total Cost At l Novcmkn 2022 Additions 18.174 17.745 35.919 666 At 3 L October 2023 18,840 17.745 36.585 Depreeiation At l Novemlxr 2022 Charge for the y At 31 (ktokn 2023 10.787 1,749 9,388 2,089 20,175 3.838 12,536 11,477 24.013 Net bookVa￿t At 31 OcttsTrKr 2023 6,304 6.268 12.572 At 31 octo1￿r 2022 7.387 8,357 15,744 14 Debtors 2023 2022 Prepayments 11,705 17.250 15 Cash and cash equivalents 2023 2022 Cash oll hand C&8h at bank 7,171 27,682 4,303 29,472 34,853 33,775 Page 20 llo￿365 Notes to the Financial Ststements for the Year Ended 31 October 2023 16 Credxtorn. falling due one year 2023 2022 Trade creditors OdKr taxation and S￿la1 security" VAT Otber tteditOTS 2,615 2,198 (1.905) 2.387 1,365 2.621 2286 (969) 395 1.521 5,854 17 FuJds Balanee at I Noventher Incoming R￿OuLt¢S expended Bal#nte at 31 Ottobtr 2023 2022 UnreJ*rithd fonds General 39,499 451,341 (474.169) 16.671 Restricted fwids 21,416 42.161 27,77 35.799 Totsl thnds 60,915 493.502 (501,94 52,470 Balance at I r*ov¢Dther Resour￿$ expended Balance at 31 October 2022 2021 Unrertricted funds General 52.768 343,762 (357,031) (7,51MS) 39.499 Restricted funds iO.C()O 18,922 21.416 Total funds 62.768 364.53 60,915 Page 21 Hope365 Notes to the FAnancial Ststemellts for the Year Ended 31 October 2023 18 Anatysis of net assets between funds UnrestrActed funds General Total funds a¢ 31 October 2023 Restritted Tangible f￿ed assets Current assets Cutrent liabilities 12,572 10.759 (6.660) 12,572 46.558 (6,660) 35.799 Total net assets 16,671 35.799 52,470 Unrestricte41 fimds General Total fimds at Restri¢fed 31 OL*ober 2022 TaDgible fIxeA assets CuTTent as8¢ts Cuffent lÈabilities 15.744 29.609 (i.854) 15.744 51.025 (5,854 21,416 Total Det assets 21.416 60,915 Page 22