Company registration number.. N1634605 Charity registration number:NIC104718 Hope365 (A company limited by 8uaranttt) Annual Rcwirt and Finan¢iaJ Statements for the Year Ended 31 October 2024 TB Millar & Co Chartcrcd Accountant & Registered Auditor 6 Doagh Road Ballyclare BT39 9BG 'AE3GIB2A' 2710512025 COMPANIES HOUSE A20
Hope365 Contents Rcfuence and Athninistrative Details Trustees, ReN)rt 2to7 Independent Auditors, Report to 11 stst¢ment of Financial Activities 12to13 Balance Sheet 14 Statement of Cash Flows 15 Notes to th¢ Financial Statements 16to25
Hope365 Reference and Administrative Details Trustees & Directors Stephen Hunter Clwistopher Jamison Stephen Harnill Aiistair Bennett Charlty Registration Number NIC104718 Company ReglstratloD Number N1634605 The charity is incorporated in Northern Ereland. 6 DoaBh Road Ballyclare Co Antrim BT39 9BG Regtstered oif* Principal Office 73-75 Main Street Ballyclare Co Antrim BT39 9AA Auditor TB Millar & Co Chartered Accountant & Registered Auditor 6 Doagh Road Ballyclare Co Antrim BT39 9BG Page I
Hope365 Trustees, Report The trustees, who are dire¢tors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable cornpany for the year ended 3 l Othobcr 2024. The Trustces confirm that they comply with the requirements of the Charities Act (Northern Ireland) 2008, The Charities (Annual Return) Regulations orthern Ireland) 2015. The Charities (Annual Return) Regulations (Northern Ireland) 2015 and Accounting ar Reporting by Charities: Statement of Recommended Prartic¢ which applies to charities preparing their accounts in accordance with the Financial RepKrting Standard applicable in the UK and Republic of Ircland (FRS 102) (effective l January 2015). THANK YOU As I look back over the previous 12 months, l am so thankfid to God to see what has been accomplished. We opened a big new Charity Shop in Larnc visited many of the local primary schools to inforn them of how they can donate to the new local shop. We also installed new clothes donations bin3 at Inver Park. home of Latn¢ FC. WithoLrt the wholehearted support of so many prA)ple we would not have been able to see such Pro¢$8. Whether through volunteering in one of our shops, taking on fimdraisin8 aclivities, joining our "Shareholder. Scheme. our "One to One" child sponsorship scheme or our new 'Wourish to Flourish" scheme, the message is the same: Thank Youl Micknl Holmes, Chlef £recuilve STRUCTURE, GOVERNANCE & MANAGEMENT Hope365 is a registered charity in Northern Ireland (NIC104718) and a fidly licensed International NGO (NonovernMent Organisation) in Federal Democratic Republic ofEthiopia (3730). Hope365 is a )rnpany limid by 8uarantce. Tntee5 who served during the yew w¢r¢ as follows: Alistair Bennett (appointed 17.01.24) Richard Crowe (re5ign¢d 17.01.24) Stephen Hamill Stephen Hunter Chris Jamison Chief Executive: Michael HoIrne8 Finance Officer: Diane Davidson Thc trustees ore responsible for the overall governance of the charity. The number of trustees shall not be less than three, nor more than seven. TRUSTEE SELECTION, APPOINTMENT & COMPETENCE When a Trustee vacancy exists, the Current Trustees will apFK)int a r¢plwxm¢nt or additional Tne¢. EXTERNAL INDEPENDENT AUDITORS At the Trusteel Meetlng on 18 Marth 2025, TB Millar wer¢ re-appointed as external independent auditors for the period l November 2024 to 31 October 2025. Page 2
Hope365 Trustees, Report FINANCIAL REVtEW AND RESULTS FOR THE YEAR The results for the year and the charity's financial p)sition at the end of the year are shown in the attached fuwlcial ststements. RISK MANAGEMENT Risk is an everyday part of the Ciwitys nonnal activity. The TneS have considered and identified the Major risks to which the charity is expos¢d and having taken 8ppropriate professional advirx have been assured that adequate systems and procedures are in place in order to mitigale or rnanage those risks. RESERVES POLICY The Charity docs not have a reserves policy. PENSIONS The charity operates a defined contribution pension h¢m¢ (which meets th¢ requirements of The Pension Regulator &8 a qualifying workplace pension scheme) for the bencfit of its pcnnanent 3taff and those who arc eligible under Auto Enrolment. The assets are administered by insurance companies in personal pension plans and are held independently from thosc of thc charity. Contributions are ¢h4T8ed to the Staternent of Financial Activities in the period to Nvhich they relate. STATEMENT OF COMPLIANCE In setting our activities and planning our activities for the year the tru$tecs hav¢ given carefvl consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activitics have helped to achiev¢ th¢ charity's purpo%s and provide a benefit to the bcneficiArie$. PURPOSES Hope365's purpose is to rescue and care for Street kids in Ethiopia. Our aim is to provide for the physical. cmotional, spiritual and edu¢attonal nccd$ of th¢ Children. Ow intention is to help each child realise they are loved by God and achieve their potential, being well equipped for adult life and makin8 A positive contribution to their local community and country. There is no harni as50Gial¢d with the purposes. BENEFICIARtES Thc ¢harity'$ beneficiaries are: The poorest children and young pwple of Shasham¢ne in Ethiopia who arc homeless and sleeping on the streets of the city. PRtVATE BENEFIT The only private benefit arisin8 in the period was the remuneration of those employed to manage and opffats th¢ charity both in Northern Ireland and in Ethiopia. This benefit is incidental to and doc3 no¢ outW¢i8h the public benefit. P8ge 3
Hope365 Trustees, Report PUBLIC BENEFIT AND REVIEW OF THE YEAR During the period. the charity has continued to provide benefits from its activities &8 follows: (i)- At Home To achieve our objectives in Ethiopia we must generate fmancial support at home. Our range of fuwic¢ 8enerating schemes currently includes,. . Three large Charity Shops in: Ballyclare, The Junction { Antrim) and Larnc. Thc Larnc Shop h93 been opened during thi5 year. • Online pre-ovmed Furniture Base (Ballyclare). • Monthly Direct Debit "Shareholder" scheme, (Project Sponsorship). 'One to One" Child Sponsorship Scheme for reunified Street Kids. • Nourish to Flourish Food ytKJnsorship scheme. . Speaking engagements in school3 and churches. . Fundraising activlties. . Truyt Fund ppplications. . Developing business relationship5 with local companie5 and partnering them with our projects. . Throughout the year all charity shops have perfonned very well. b The number of participants in our "Shareholders" regular 8ivin8 stheme also remains en¢ourdging. Our "One-to-one" Child sponsorship scheme for reunited Street Kids has increased significantly durin8 the year. . The new Nourish to Flourish scheme has had an encouTa8in8 $14rt. We wntinue to develop new r¢la¢ionships with Primary & Sendary S¢hools and eontinue use our speciaIly developed resources (KS2). . Income from fundraisin8 activities has improved. Finally, our 'Tr&ileT for Change" which is a portable clothes and bric-a-brac donations trailer visited many churches. businesses, and schools throu8hout th¢ ycar. These additional donations contributed SIficant1Y to th¢ profitability of shop sales. HOW WE ACHIEVE OUR PURPOSE {li)- ID Etbiopia Uslng the funds geTherat at home we employ Ethiopian staff (currently 12 PfAtrple in our Origin project of Transition Centre and Group Homes, along with 23 staff in our 'Hope365 Acaderny. School) to outwork tho objectives of our approved projects in Ethiopi4 Our status as an International NGO statu3 8iv¢s us the scope to consider addilionol strategic projects as we uncovcr the Lx)re nceds. In addition, it allows us to ensure tha¢ 1 key Staff who will be workin8 closely with the children in our care should be followers of Jesus. Children are accepted into our care regardless of their faith or ethnicity; howcvcr, our projects opcrate in accordance with thc exarnple and teaching of Jesus. We have developed good relationship5 with lo1 rhur¢h¢s in the r¢gions wh¢r¢ w¢ worL to Mlze th¢ chan¢¢s of children ¢ontiniiin8 to ww in their faith. The Hope365 AdemY ntinUed to operate from excellent rented facilities. This school project offers all important education as well as s¢hool dinners to vulnerable b)ys and girls in Shashemene including many fomier Steet Kids. This includes the provision of breakfasts for the children lo address the problem of ¢hil(tr¢n fainting with hunger in the mornings. This current school year (commen¢ing Sep 2024) has seen 483 vulnerable children register in the Hope365, an in¢rease of almost 100 children. Page 4
Hope365 Trustees, Report OUR PROJECT.. TrnJitioD Centr¢ 'Yesfa MaIriYa Bota" (Hope Home) is a great fa¢ility which has the capacity to sleep up to 20 iM)ys at any one tirne. All children ar¢ Tef¢rred to us by Shashemene Womcn'5 & Children's Affairs in c4)njunction with the local Police Forcc. Tesfa Manoriya Bots is ¢entral tr) our project as it acts as thc starting point in a journey of hope for street boys. There or¢ two strands to our Project ProsaI. (A) Long temi care for Street Kids who have no one able to care for them. (li) Rcunifi¢ation of Street Kids with cxnded family mernb¢rs. The staff team have come together well throughout the year And have created a very loving environrnent for all the Childre whcthw lon8 t¢rm or shorter terni. A variety of techniques in¢ludin8 play therapy* dram4 art therapy etc. are used by our staff to help unlock the backgrounds to the trhumotic stories of each of these individual children. All chkldren have full medical check-ups and enjoy a well4alanced diel showering facilitie5 and new Glean cloth¢s. Strand I: Long term rI. When children are referred to us by the lorhl government we assess each individual to detern]ine the bvJt ssible long-teTrn plan for the ¢hild. Our staff team includes a p5ycholo8isi Social WOTk¢r, nselling $tsff. nhnny's etc. as well as experienced project man&8¢rs etc. GROUP HOMES Where there are no family links, or where reunification with extended family is not possible, wc will forn? ,rOup Homes" These replicat¢ as ¢los¢ly u possible a traditional family environment with our specially trained Iiv¢-in nanny's and up to ten ehildren. Thc rhildren all attend school and church And essentially grow tO8¢ther &8 a family as part of ihc local community. thereby eliminating any stigma of "institutional care" This year we opened a third Group Home and so we now care for a total of 30 orplwi¢d children. Ea¢h GTOUP Home provides care for 10 orphaned Street Kids. The homes have been operating very su¢¢essfully with all the boy5 having a very stable environment. We rent¢d suitable homes and trained employed house parents to live with, and Care for the boys. In line with Ethiopian Government policies the "family" is 11 int¢gTated into the local ¢ommunity. The boys are really enjoying this safe. stable envlronment and are thriving at school. They continue to have psycho-so¢ial input from our staff but are remarkably well adapted aftcr having spent so long on the streets. Outside in the garden the boys have been learning about growing various vegetables and how to rotate the planting to maximize yield. • After detailed investigations throughout previow years we have established that 30 of the children in our care have no onc to rarc for them and so reunification will be impossibl¢, • All have been enrolled in schools in Shashemene where they will receive an excellent education. including at the Hope365 Academy. The boys live in one of our'fFroup Homes" whcr¢ they have s¢ttl¢d extremely w¢ll and still rrfeive e-psychologtcal support from our stsff tearn. All have been verified as being orphans by the relevant Government departsnent (Wornen & Children's Affairs). . Given the boys, circumstances the choice of h0o1 was crucial and so we ensure the E¥)y's cer5 m¢¢t weekly with the teachers to ensure their good progress continues. All the boys are all actively involved in doing chores around the house such as brushing tloors. washing lothes. doing dishes et¢. to help provide as nonnal an upbringing as p055ible. Even a simple request like asking perniission to bring school friend5 hom¢ to play are a very healthy si8n that the knys really do feel Secu and that th¢ir Iivcs ar¢ bein8 norn)41is¢d. Page 5
Hope365 Trustees, Report Strand 2: Re-uDlfieAtlon of klds to eiteDded famlty Where appropriate and where a biological family exists, we believe it would be An the child's best interest to reunite them with blood relatives. However, one major challenge relate5 to the family's ability to provide dequately for the child. Many kids are on the streets because families are 8Amply too poor to care for them. One way of helping 5ucce5sfully r¢unit¢ & ¢hild into a family long-tenn is to com¢ alongside the family and help them. Our .ne to One" Child sponsorship program for reunited children, &8 the name suggests, encoura8e5 sponsors to support one specific child and his family with o monthly Direct Debit of £20. This money is used to improve the quality of life not only for the child but also for the family. Typically, we use the fimds to provide food and clothing. We also provide educational resources and medical support etc. With no So¢ipdl Services in Ethiopi4 it is our responsibility to und¢rtake home assessment visits before reunitin8 child. We a130 responsible for regular follow up visits to ensure the rcunifi¢&tion is wntinuinB to be successful. Given the geographi1 5pr¢ad of the reunited children, this is a significant challeng¢. . We are delighted to have reunited well over 250 children with members of their biological family. Once reunited we cover the associated edutiOnal costs of etL8urin8 the child goes school. . Some of these children comc from rural 8re&8 outside Shashemene while others live within the to1 limits. . Approximately 30 families of rcunited children have so far benefitted from the Income Generation Micro Finan¢e Loan scheme and perforn]ances have bccn enrouTaging as have the repayment of loans in a timely Manner. HOPE ACADEMY We are delighted with the pro8rcss of the Hope365 Academy. This school comprises I I classroorns for 8rnde students plus a schi)ol office. All grade pupils have a distinctive school Unifo which they proudly wear. 483 pupils (both boys and girls) aged between 6 and 14yrs arc now receiving a good cducation as well a nutritious hot meal each day. Provision of breakfast ha5 now al80 been introthiced to help the children learn effectively. Reunited Street Kids who live closc enough are admitted into the Hope Academy in linc with the strict admission ¢riteria d¢Y¢loped in conjunction with the local 8ovcrnm¢nt authorities. • The staff team compriscs 23 teachers and support staff. Trustees and officers Th¢ tru3tee5 and otTi¢ers serving during the year and since thc ycor cnd were 48 follows.. Tnjstees: Richard Crowe (resigned 17 January 2024) Stephen Hunter Christophcr Jamison Stephen Hamill Alistair Bennett (appointcd 17 January 2024) Page 6
Hope365 Trustees, Report Plans for the firture As we plan for the future we are committed to fundraising to generate addttional fldS to allow us to build 4 new cl&8srooms lo extend the educ*ion of our pupds to gr8de 7 (previously our highest level was Grade 5) in the Hope365 Academy. We also plan to grow our new Nourixh to Flourish Meal SPK>nsorship programme and other monthly sub5rription5 5chem¢s. Stephen Hamill Trustee Page 7
Hop¢365 Independent Auditor's Report to the Members of Hope365 Opinion We have audited the fin¢181 statements of Hope365 (the 'charity'} for the year ended 31 Othober 2024, which cornprise the Statement of Financial Aclivities, Balance Sheet, Stai¢ment of C&8h Flows. and Notes to the Financial Statements, including a summary of si8nificant accounting policies. The financial reporting framewoTk that has been applied in theiI preparation is United Kingdom Accounting Standards, comprisin8 Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the fmanciaj staternenls.. give a true and fair view of the state of the clwity's affair5 a5 at 31 October 2024 and of its incomin8 resources Jnd application of resources, including its income and expenditure, for th¢ year th¢n ended. have been properly prepared in acMrdance with United Kingdom G¢n¢rally Accepted Acwuntin8 Practice; have been prepared in accordance with the requirements of the Componi¢s A¢t 2006. B*$is for opinion We conducted our audit in accordance with International StandaT(ts on Auditin8 (UK) (ISAS (UK)) and appli¢abl¢ law. Our r¢sponsibilities under those standards are fiwther described in the 4uditor respolbilitieS for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are r¢levant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in ac¢ordance with these requirements. We believe that the audit evidence wc hav¢ obtained ig sufficient and appropriate to provide a basi3 for our opinion. Concluslons relatlng to golng con¢er In auditing the financial statements, we have concluded that th¢ truslees use of the going concern basis of accountin8 in th¢ preparation of the financial ststements is appropriate. B&sed on the work we have pcrforn)ed, wc have not identified #ny material uncertainttes re12tin8 to events or conditions thJL individually or rollectively> may cast Significant doubt on the charity's ability to wntinu¢ as a going concern for a period of at least twelve month3 from when the original fuwicial statements were authorised for issue. Our responsibilities the r¢sponsibilities of the trustees with respect to 8oin8 con¢em are descTibcd in the relevant sections of this rcFK)rt. Other Informatlon The tnL8t¢es are responsible for the other infoThnation. The other infonnation comprises the infOrntiOn included in the annual report, other than the flnancial statements and our auditor'y report thereon. Our opinion on the fllwicial statements docs not cover the other inforniation and, except to the ex1ent otherwise explicitly ststed in our reporL we do not expr any form of assurance rAyn¢lusion thern. tn connection with our audit of the fin4n¢ial stat¢ments, our responsibility is to read the other infonnation and, in doing so, conslder whether the other infonnation is materially inconsistent with the fthancial statements or our knowledge obtsined in the audit or otherwise appears to bc rnaterially misstated. If we identify such Material inconsistencies or apparent material mis51atements, we are required to defrrniine whether there is a material misststement in the fman¢ial ststements or a material misstatement of the otheT information. If. based on thc work we have perf0rnie we conclude that there is a material mis5tat¢ment of this other infonnation, we #r¢ required to rewrt that fact. We have nothing to report in this rega. Page 8
Hope365 Independent Auditor's Report to tbe Members of Hope365 Opiniop on otber matter prescrlbed by the Companles Act 2006 In our opinion, b&ged on the work undertaken in the course of the audit: the infonnation given in thc Trustees, Report for the ron¢la1 year for which the financial $tatements are prepared 1$ consistent with the financial statements; ar the Trustees, Report has been prepared in acLx)rdance with applicable legal requirements. MAtt*rs ott whleh we Are requtred to report by exceptlon In the light of our knowledge and understanding of the charity and its enviromnent obtained in the course of the audit, we have not identified material rnisstaternents in the TsteeS. ReporL We have nothin8 to report in r¢$pe¢t of th¢ followin8 matters where the Companie9 Act 2006 requires ug to report to you if, in our opinion: adequate accountin8 records have not been kepl or returns adequate for our audit hav¢ not been receiv¢d from branches tt visited by us. or the financial statements are not in awrnent with the COunting records returns. or certain disclosures of tNstees remuneration specified by law not mad¢. or we have not received all the infonnation and explanations we require for our audit. the directors were not entiiled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparin8 the directors, rew)rt and from the rcquircmcnt lo prepar¢ 8 strategic report. RespoDslbllltle$ of trust$ As explained more fully in the (set out on page ), the tnthes are resp)nsible for the preparntion of the financial 5tstements and for being satisfied that they give a true and fair view, and for such internal CA)ntrol as the trustees detemiine is necessary to enable the preparation of financial statemcnts that arc free from material misslatem¢nt, whether due to fraud or error. In preparing the fmancial statements, the trustees are re5PODsible for assessing the charity's #bility to continue As a 8oin8 concern, disclosing. 8s appli¢able, matters related to goin8 concern and using the going concern basis of accountin8 unless the trust$ either intend to liquidat¢ the charity or lo Cease operation& or hav¢ no Tealistio alternative but to do so. Audltor regponslbllltles for the Audlt of tbe Ilnan¢knl itatemeDts Our objectives are to obtain reasonable UranC¢ about whether the fancIal statements &8 a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's rert that includes our opinion. Reasonable assurance is a high level of a55urance, but is not 8 guardntee that an audit conducted in Accordance with ISAS (UK) will always detect a material mi5slatcrnent when it exists. Misstaternents can arise from fraud or error and Are considered material if, individually or in the ag8Tegate, they could reasonably bc expected to influence th¢ ewnomtr decisions of users taken on the b&sis of these finan¢Aal statements. The extent to which our procedures are capable of detectin8 irre8ularities. includin8 fraud is detailed below: Page 9
Hope36S Independent Audilor's Report to the Members of Hope365 We considered the opportunities and incentive5 that may exist within the Charity for fraud and identified the atest rK>tential for fraud in relation to revenue reColI10n and payment of amounts from the Charity. tn common with all audits under ISA8 (UK). we are also required to perfo spe¢ifi¢ prOdureS to respond to the risk of management ovcrridc. We also obtained an understanding of the lega] and rcgulatory fromeworks that the Charity operates in, focusin8 on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key la and regulations we consldered in this context included Companies Act 2006, Charities Act (Nt) 2008 and guidance provided by the Charity Commission for Northern Ireland. In addition. we considered provisions of relevant laws and r¢gulations that do not have a direct effect on th¢ fmanciai statements but MplIanCe with which may be fundamentsl to th¢ Charity's ability to operate or to avold a material penalty. Our procedures to respond to risks identified included the followin8.' reviewing the fmancial statement di3closures and ¢¢sting $upportinB documentation to assess complianG¢ with provisions of relevant laws and regulations described as having a direct effect on th¢ fmancial statements. - enquirin8 of management regarding actual and potential litigation and claims. - perforniing Analylical procedures to identify Jny unusual or unexpected relationshipg that May indicate risks of materi81 mi53tatement due to fraud: - reading minutes of meetings of those charged with governance and reviewing regulatory correspondence with the Charity Commission for Northern Ireland. in addressing the risk of fraud through management override of controls we, tested the appropriateness of journal entries and other adjustments: assessed whether the jud8¢ments rnadc in m&king accowiting estimates are indicative of a potential bia5. cvaluated the business rationale of any sigThificant transaction5; and where possible obtained direct confimiation of balances independently from the relevant party. We also communicated relevant identified law5 and regulations and potential fraud risks to all engagement team members, remained alert to any indications of fraud or non4ompliance with laws and rc8uIAtions throughout the audit. Because of the inherent limitations of an audi( there is a risk that we will not detect all irregularities, including those leading to a material misstatement In the financial ststements or nun•L4Jmpli&iLe with regulation. This risk increases the more that compliance with a law or relatiOn is rernoved from the events and transactions reflected in the financial statements. AS we will be less likely become aware of inslancc5 of non<ompliance. The risk is also greater rcgarding irrcgularities occurring due to fraud rather than error, as fraud involvc5 intentional conc1rnenl forgery, collusion, omission or misr¢prc5entstion. Page 10
Hope365 Independent Auditorls Report to the Members of Hope365 Ust of our report This report is made solely lo the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit Work ha8 been undertaken so that we might state tr) the charity's trustees those rnatters we are required to 5tste to them in Jn auditor's report and for no other purpos¢. To the Ilest extent pemiitted by law, we do not accept or assume re5pon5ibility to anyone other than the charitable company and its ¢rustee$ 18 a body, for our audit work, for this rert, or for the opinions we have fomied. Barry For enior Statutory Auditor) f of TB Millar & Co, Stotutory Auditor onbe 6 Do8gh Ballyclare Co Antrim BT39 9BG 26 Marrh 2025 Pa8e 11
Hope365 Statement of Financial Activities for the Year Ended 31 October 2024 (Including Income and Expenditure AccouDt and Ststement of Total Recognised Gains and Losses) Current Year 2024 Unrestricted futtds Restricte4J funds Total 2024 Note Income And Endowments from: Donations and legacies Charitsble activities Oth¢r trading a¢tivitl¢g 91.389 38.909 18,348 130.298 18,348 374,931 374,931 Total income 466,320 57.257 523,577 Expenditure OD: Raising funds Charitable activitie5 (398,822) 79,796 (398.822) 144,143 Total expenditLwe Net expenditure TrS(cr$ between funds 478,618 64,34 542.965 (12,298) 11,000 (7.090) 11,000 (19,388) Net movement in fimds {1,298) (18,090) (19,388) RecoDclllatloD of fuuds Total fimds brought forward Total fimds carried forward 16,671 35,799 52,470 18 The notes on pages 16 to 25 forn] an Inteal part of these fmancial statements. Page 12
Hope365 Statement of Financial Activitie$ for the Year Ended 31 October 2024 (Including Income and Expenditure Account and Statement of Total RecogDised Gains and Losses) Prior Year 2023 UDmtrlcled fundg Restrlcted runds Total 2023 Not¢ Income attd Endowments from: Do[tIonS and legacies chItable activities Other tradin8 a¢¢ivities 95.772 31.841 10,320 127,613 10.320 355.569 355,569 Totsl in¢orne 451341 42.161 493,502 EipeDdlture on: Raisins funds Charithble activitics (300,152) 174,017 (300,152) 201.795 27,778 Total expenditure Net (expenditureyincome 474,169 27,778 501,94 22,828 14,383 8,445 Net movemcnt in fund3 (22,828) 14.383 (8,445) Rttonclll&tloD of Ibnd> Total funds brought fonvard 39,499 21,416 60,915 Totsl fid5 Carried fon¥Ard 35,799 All of the charity'5 activities derive from continuing operations during the above two periods. The funds breakdown for 2023 1$ shown in note 18. The notes on pages 16 to 25 forni an inte8ral part of these financial statements. Pa8e 13
Hope365 (Registration number: N1634605) Balauce Sheet as at 31 October 2024 2024 2023 Note Fixed g9$tts Tangible Sets 14 9,267 12,572 Current aJJ¢ts Debtors Cash at bank and in hand l5 16 6,030 28,649 11,705 34,853 34,679 46,558 Credltors: Amounts fglllng due within one year 17 10,864 6,660 Net ¢urr¢A¢ aJ5ets 23.815 39,898 Net aets Fuods of the etrlarlty; Restricted income fundi Re5tri¢ted funds 17,709 35.799 Unrestrlcted Infom¢ fvnd$ Unrestricted fimds 15,373 16,671 Total funds 18 52,470 For the fmancial year endin8 31 October 2024 Ihc charity was entitled tr) exemption from audit under section 477 of the Cornpanies Act 2006 relaling to small companies. Directorg, responsibilities: The membcr5 h8v¢ not r¢quir¢d the charity to obtain an audit of its accounts for the year in question in accordance with section 476. and The directors acknowledge their r¢sponsibilit1¢5 for ¢omplyin8 with th¢ r¢quirem¢nts of the Act with respect to QountIng rerdS and the preparntion of accounts. Th¢ fmancial ststements on pages 12 to 25 were approved by the trust¢es, and authorised for issue on 26 March 2025 and signed on their behalf by: Stephen Hamill Trustee The note5 on pmges 16 to 25 forni an integral part of these fmancial statement5. Page 14
Hope365 SlatemeDI of Cash Flows for the Year Ended 31 October 2024 2024 2023 Nott C•ih flows frorn operatlng *etlvltles Net cash expenditure (19,388) {8,445) AdJu¥tm¢ots to Clbgb flowg frnm nOD-¢&gh Items Depreciation Loss on disposal of fixed assets held for the ¢harity's own use 3,169 314 3.838 {15,905) (4,607) Workinz capital adju$tm¢llts Decrease in debtors Increase in ¢redAtors 15 17 5,675 4,204 5,545 806 Net cash flows from operating activities C•$b nowg from Inv¢Jtlo8 aetlvliles Purchase of tsngible fLxed assets Sale of tangible f¢d assets 6,026 14 (628) 450 (666) Net cash flows from investing a¢liviti¢s 178 666 Net (de¢re8s¢yincrease in c&qh and cash equivalents (6,2(M) 34.853 1,078 Cosh and c&8h equivalents at l November 33,775 Cash and cash equivalents at 31 October 28,649 34,853 All of thc cash flows arc derived from ¢ofttinuin8 operntions during the above two periods. The notes on pages 16 to 25 forn an inte] part of these fan(la1 5tstements. Pa8e 15
Hope365 Note$ to the Financial Statemellts for the Year Ended 31 October 2024 I Charity Status The charity is limitrd by guarantee, incorporated in Northern Ireland, and consequently does not have share ¢apit81. E8¢h of the trustees is liable lo rontribute an amount not exceeding £1 lowd5 the a55ets of the rharity in the event of liquidation. The address of its registered office is.. 6 Doagh Road Ballyclarc Co Antrim BT39 9BG The principal place of business is: 73-75 Main Street Ballyclare Co Antrim BT39 9AA These fmancial statements were authorised for issue by the trustees on 26 March 2025. 2 AccouDtlng polid¢s SummAry of slzninuDt aeeouDtIDg polieiel aknd kty aetounthi£ estlmates The principal accounting policies applied in the preparation of these fancial statements are sct out bclow. These poli¢ies have b¢¢n wnsistently applied to all the yean pr¢g¢ntr4 unl¢ss oth¢rwise stated. Statemen¢ of compliAn¢e The tAnCIal Statements have been prepared in cordnCe with Accounting and Reporting by Charities.. Statement of Recommcnd¢d Pra¢ti¢e (applicable to charilics preparing their arwunts in a(rdIn¢¢ with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102)) (i&8ued in October 2019) - (Charilies SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Cornpanic5 Act 2006. Basis of preparation Hope365 meets the defmition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cnst or transaction value unless otherwise stated in the relevAnt accounting Frt)licy notes. Going tontern The truste¢s ¢onsider that there are no material uncertainties about thc ¢harity's ability to continue &5 a going ¢on¢¢rn nor any signiflcant areas of unc£rtainty that 8ffe¢t the catrying value of assets held by the charity. Intomt *nd endowments All incom¢ is recognised once the charity has entitlement to the Inrne. it is probable that the income will be received and the amount of the incorne rereivable Can be mwured reliably. Page 16
Hope365 Notes lo the Financial Statements for the Year Ended 31 October 2024 Donalions dnd Iqacies Donations are rewgnised when the charity has been notified in writing of b)th the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before th¢ ¢harity is entitled to the funds, the income is deferred and not recognised until either those wnditions are fully meL or the fvlfilment of those L%)nditions is wholly within the wntrol of the charity and it is probable that these ¢ondition$ will be fulfilled in the reportin8 period. Expenditsre All expenditure is recognised once there is a legal or constNctive obli8ation lo that expenditure, it 15 probable settlement is required and the wnount ¢an Ix measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that cale80ry. Where Costs cannot be directly albul¢d to parti¢ular headings they have been allocated on 4 basis consislent with the use of re50ur¢e5, with ¢¢ntral staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated b&8ed on the spread of staff costs. These arc costs in¢utred in attracting voluntary income, the management of inve5trnents and those incurred in trading activities that raise funds. Charliable acdvldes Charitsble expendith comprises thosc costs incurred by thc charity in the delivery of its a¢tivities and services for its bcneficiari¢5. It includes lyoth ¢osts that can be allocated directly to such activities and those costs of an indirecl nature necessary to support them. Support costs Support Costs includc c¢ntral fictiOnS and hav¢ b¢¢n allocat&l to activity cost categories on a b&8is consistent with thc use of resources, for cxample, allo¢atin8 property wsts by floor areL8, or per capits, staff costs by the time spent and other costs by their usa8e. Governance costs These include the costs attributable the charity's tompliAnce with constitutional and statutory rquirements. includlng audit, strategic management and tru5tce3 meetings and reimbursed expenses. Tax•tion The charity is considered to pass the tests set out in Para8Taph I Schedule 6 of the FinCe Act 2010 and therefo it meets the d¢finition of a ¢haritsble company for UK corporation tsx purposes. Accordingly, the charlty is tentiallY exempt from taxation in respect of inwme or &ipital gains receivcd within categoric3 covered by ChapteT 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the T&xation of Chargeable Gains Act 1992, to the extent that such income or 8ains are applied exclusively to charitable purposes, Page 17
Hope365 Notes to the FiDaB¢ial Statements for the Year Ended 31 October 2024 TgDglble rued 4$$¢ts Jndividu&l fixed assets costin8 £0.00 or more are initially recorded at cost, les3 any subsequent accumulated depreciation and subsequent accumulated impairnThl losses. Depreciation and amortis*tion Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual v8lue. over their expe¢ted usefvl economic life as follows: Asset tlass Fixtures & Fittings Offi¢e Equipment Motor Vehicles Depreciation metbod and Tate 250A Reducing Balance 20Yo Reducing Balance 25% R¢du¢in8 Balanrx Tr4d¢ debtors Trade debtors are amounts due from customers for merchandise sold or services p¢rfonncd in the ordinary course of business. Trade debtors are Te¢Olsed initially the transaction PTice. They are subsequently rneasured at amortised cost using the effective interest method, le55 provision for impairnent. A provision for th¢ impainnent of trade d¢btors is established when th¢re is objective evidence that the charity will not bc able to collect all amounts due aLYordin8 to th¢ original ternts of the reteivables. Cash and cash equivalents Cash and cash equivalents Mprise ¢ash on hand and c411 deposits, and other short-terni highly liquid investments that are readily convertible to a known amount of ¢ash and are subject to an insilfIe4ftt risk of change in value. Trade credltors Trade creditors are obligations to pay for 8ood5 or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilitics if the charity does not have an unwnditional righl at the end of the reporting period, to defer settlement of thc Creditor for at least t1ve month5 after the reporting date. If there 15 an unconditional right to defer settlement for at least twelve months after the rep)rting date, they are presented as non<urr¢nt liabilities. Trade creditor5 ar¢ T¢Sn15ed initially &t the transaction pritt and subsequently rnwur¢d at 4mortis¢d cojt using the effective interest method. Page 13
Hope365 Notes to the Financial Statements for the Year EDded 31 October 2024 Foreign txehange Transactions in forei8n GU¢()¢9 or¢ f¢¢OTded at the r&t¢ of ¢x¢hange at the date of the transaction. Monetary assets and liabilities denominated in foreign rurren¢ies at thc balance she¢t date are reported 4t th¢ rates of exchange prevailing at that date. Th¢ r¢sults of overseas operations are translated at the average rates of cxGhang¢ during the period and their balance Sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net a&8ets and results of overseas operations are reported in other comprehensive inwme and accumulated in equity (attributed to nOnOntrollIng interests as appropriate). Other exchange differences are r¢cogni5cd in th¢ Statement of Financial Activities in the P¢Tiod in which they arise except for.. l) exchange differences on transactions eThtered into to hedge certain foreign currency risks (see above). 2) exchange differen¢u arising on Bains or losses on non-monetAry items which are recognised in other comprehensive income; and 3) in the case of the consolidated fuwicial ststements, exchange differences on monetary items r¢¢¢iv8ble from or payable to a foreign operation for which scttlement is neither planned nor likely to occur (therefore forn]in8 part of the net inveslJn¢nt in th¢ forei operation), wthich are reco8nised in other comprehensive income and reported under equity. Fund structure Unrestricted incomc fidS are general funds that are available for use At the trustees discretion in furtherance of the objectives of the charity. Restricted income fLmds are those donated for use in & particular arco OT for specifi¢ purrK75cs, the usc of which 15 restricted to that area or purpos¢. Pa8e 19
Hope365 Notes to the Fiwdncial Statements for the Year Ended 31 October 2024 3 Income from donations and legaei¢s UDregtrleted fundy General Regtricted funds Total 2024 Totsl 2023 DOtionS and legacies: Donations from individuals Gift aid reclaimed 70,878 20,511 38,909 109,787 20,511 108.187 19.426 91,389 38,909 130,298 127.613 4 Ineome from charktable actfvltleg R¢$tritted funds Total funds Child Sponsorshlp Total for 2024 18,348 18.348 18,348 18.348 To¢•1 for 2023 10,320 5 Income from otb¢r tr•dlng a<tlvldes UDregtrlcted funds GtDerYdl Totsl 2023 Totsl 2023 Tradtng inLMe. Shop income from sale of donated goods and services 374,931 374,931 355,569 374,931 374,931 355,569 Page 20
Hope365 Notes to the Financial Slatements for the Year Ended 31 October 2024 6 Expenditsre on ralslng funds 8) Costs of geDeratiDg donatlons and legaeles UDrestri¢ted fuDdg General Total 2024 Total 2023 Note Other dir¢¢t costs of 8enerntin8 voluntary income Allocated sUPPOrt costs 2215 30,565 2,215 30.565 1,711 23.245 32,780 32,780 24,956 b) Costs of tradlng ellYlti Unrestrleted funds GeDerl Totsl 2024 Tot41 2023 Not¢ Legal fees Marketing and publicity Depreciation, amortisation and otheT similar costs Other direct costs of activities for generatin8 fld8 Allocated support costs 2,860 6,465 2.860 6.465 2,935 5,490 3,482 3,482 3,838 98,146 255,089 98,146 255 089 68,893 194,040 366,042 366 042 275,196 7 Expenditure on ¢barit*ble artiviti¢g UDrestrlcl¢d funds G¢n¢ral Restrlcted fuods Total 2024 Totsl 2023 TMB C¢ntr¢. Hope Academy and Group Homes Governance costs 76,796 3,000 64,347 141.143 3,O¢XI 200,430 1,365 79,796 64,347 144,143 201,795 Page21
Hope365 Notes to the Financi81 Statements for the Year Ended 31 October 2024 £76,796 (2023 - £172,652> of the above exPedItUre was attributsble to unrestricted fimds and £64,347 (2023 - £27.778) to restricted funds. Jn addition to the expenditure analysed abov4 there are also governance sts of £3,000 {2023 - £1,365) whith relat¢ dire¢tiy to charitable activitics. See note 8 for fiffther dctsils. 8 Analysis of gov¢rnDte and sttpport tosts Support eosts allocated to rJ15iDg funds B•sis Finaace costg IDfonntion technology Stif¢osts AdmiDiitr4tion Total eosts 2024 Total 2023 Allocation Cost5 of generating donations and le8acies Costs of tradin8 activities 739 1,134 27.873 819 30,565 23.245 232,621 255 089 194,04 I 6,905 10,599 260 494 7,656 285,654 217,286 Basts ofalloctlon Reference Method of allocailoD Pewenta8e of sthff cosls Gov¢rn4D¢¢ eosts Unrestricted funds General Totsl 2024 Tot21 2023 Audit fe¢s Audit of the fmancial statements Independcnt examiner fees Examination of the fwancial slatements 3,000 3,000 lJ65 1,365 9 Net iDcomiDgloutgoiDg re$our¢e5 out8oin8 rcx)urres for th¢ y¢ar include: 2024 2023 Audit fe¢s in5s on disposal of fixed assets held for the ¢h8rity'$ own use Depreciation of fixed assets 3,000 314 3,168 4.054 Pa8e 22
Hope365 Notes to the Financial Statements for the Year Ended 31 October 2024 10 Thistees remuneration and ¢xpenses No trustees, nor any persons connected with them, have received any remuner*ion from the charity during the year. No truslees have received any rcimbursed ¢xp¢nses or any other benefits from the charity durin8 the year. 11 Independtnt ¢x•mln¢r'$ remun•radon 2023 Examination of the financial slatemcnts 1,365 12 Auditors, remuneratlon 2024 Audit of the fllwiciAI statements 3,000 13 Taxation The clwity is a registered charity and is therefore exempt from taxaiion. 14 Tangible fixed issets Furnlture And equipment Motor vehlclej To¢NI Cost At l November 2023 Additions DisS&18 At 31 October 2024 17,262 628 17.745 35,007 628 4.995 4,995 17,890 12,750 30,640 Depreciation At l November 2023 Charge for the year Eliminated on disposals 10,958 1,668 11.477 1,501 4.231) 22.435 3,169 (4.231) At 31 October 2024 12,626 8,747 21,373 N¢t book valut At 31 October 2024 5,264 4.003 9,267 At 31 October 2023 6,304 6,268 12.572 Pagc 23
Hope365 Notes to the Financial Statements for the Year Ended 31 October 2024 15 Debtors 2024 2023 Prepayments Oth¢T dcbtors 3,073 2.957 9.576 2,129 6.030 11,705 16 Cash and egih equlvalents 2024 2023 Cash on hand Cash at bank 6,909 21,740 7,171 27,682 28,649 17 Credltorj: •mounts fallin£ due wlthln One ytar 2024 2023 Trade creditors Other Iation and sociAI security VAT Other creditors Accrua15 5,347 3,127 (2,489) 2,615 2,198 (1,905) 2,387 1,365 4,879 10,8fA
Hope365 Notes to the Financial Statements for the Year Ended 31 October 2024 18 FuDds Balan¢¢ at I Novernber 2023 B*laD¢e #t 31 Octob¢r 2024 Incowing resources Resourt•s exp¢nded Tran$fers ureriCted funds Oeneral 16,671 466,320 (478,618) 64,34 11.000 15,373 17,709 Restricted funds 35,799 11.000 TotAI funds 52,470 523,577 542,965 33,082 BAI2D¢• ot I November Incoming resouT¢¢S Ruouree$ expended Balance At 31 Oetober 2023 2022 Unr•strlcled fuDdi GeneTal 39,499 451,341 (474,169) 27,778 16,671 RtrIcted tslldg 21,416 42.161 35,799 Total thDdJ 60.915 493,502 501,947 19 Anatyiil of Det assets between funds UDrestrleted funds G¢Der#l Total funds At 31 October 2024 Rejtrlcted nds Tangible fixed assets Current assets Current liabilities 9267 16,970 10,864 9,267 34,679 10.864 17.709 Totsl net ass¢ts 15.373 17,709 33,082 Uorestrleted fundg G¢Denl Total funds gt 31 Ottober 2023 R¢Jtrlcted funds Tangible fixed assets cUent assets Current liabilities 12,572 10,759 (6,660) 12,572 46,558 6,660 35.799 Total net 16,671 35,799 52,470 Page 25