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← HopeFull (SCIO)

2025-04-30-accounts

Charity registration number SC049842 (Scotland)

HOPEFULL (SCIO)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

HOPEFULL (SCIO)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

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Charity number (Scotland) Principal address

SC049842

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Auditor

Bankers

Solicitors

Findlays Audit Limited 11 Dudhope Terrace Dundee DD3 6TS Weatherbys Bank 52 - 60 Sanders Road Wellinborough NN8 4BX Turcan Connell Princes Exchange 1 Earl Grey Street Edinburgh EH3 9EE

HOPEFULL (SCIO)

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9 - 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 25

HOPEFULL (SCIO)

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 APRIL 2025

The trustees present their annual report and financial statements for the year ended 30 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FRS 102)".

Objectives and activities

As stated in the Charity’s Objectives and Purposes (as declared to OSCR and reflected in its constitution) the organisation provides humanitarian aid to those suffering in Ukraine. This aid is principally providing food, and bringing some joy and hope for those rural communities in the East, often neglected by other NGOs.

Charity Aims and How We Deliver to Achieve These Aims

In January 2024, HopeFull (SCIO) – as a new charity with OSCR - was set up. This was the result of 3 of the Trustees wanting to take the forerunner to HopeFull SCIO (Siobhan’s Trust) back to its roots in Dundee. The other 2 trustees wanted to continue their work in Ukraine – hence the establishment of a new charity. Most of the funds and assets previously held under Siobhan’s Trust - were transferred to HopeFull SCIO – as the majority of the Charity’s donations had been given (since Mar 2022) to support the Ukraine operation, operating as Siobhan’s Trust (Mar 2022 – Jan 2024).

The new charity’s Ukraine operation is principally one of providing food (based on pizza) – delivered using specially adapted trucks and international volunteers - operating out of the Charity’s bases in Lviv and Zaporizhzhia. As well as providing food, the aim of the charity is to offer fun, love and joy hope to a beleaguered nation via dancing, music, painting, and sport.

While we always operate outside artillery range, we are regularly serving our unique blend of food and fun, in the far Eastern areas of the country – one of few charities willing to provide humanitarian relief, where, without doubt, the need is the greatest.

Significant activities undertaken in year

We have been fortunate that so many individuals and organisations have continued to take a close interest in our activities and maintained their donations to us. During that time the metrics showing our achievements are in the section below. Nonetheless, we have seen a significant drop in revenue towards the end of the period (end 2024), as charity fatigue sets in and the war slips from media headlines.

We have continued to host visits of MPs, VIPs and major corporate donors, which has helped to maintain our profile and keep the Charity in the public eye. Notwithstanding this, we do not anticipate this level of support being sustained throughout 2025, which means the Charity has had to adjust its operating model (from Mar 25). These changes will be reported upon in next year’s accounts.

Grant making policy

During the year, donations were made to Mobile Medical Rescue (MMR) to support humanitarian operations in Ukraine. The Trustees are satisfied MMR's activities align with the charity's objectives.

Volunteers

The charity benefits greatly from the time and commitment of its volunteers, who support our work in areas such as pizza distribution. The number of volunteers who helped the charity in the year was approximately 140. Their contribution is invaluable, and the trustees are grateful for their ongoing support.

HOPEFULL (SCIO)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

Achievements and performance

Significant activities and achievements against objectives

While for the majority of 2024 our work has remained largely unchanged – the numbers of Ukrainians we have supported racks up – and the number of new sites (particularly in the East) increases too. Other significant metrics (as at end Mar 2025):

Financial review

The financial statements show a deficit in the year of £369,526 (2024 - £170,947). At the year end £68,580 (2024 - £418,101 as restated) was classed as unrestricted reserves. At the year end, restricted funds totalled £113,846 (2024 - £133,851 as restated).

Going concern

After reviewing the revenue versus expenditure (in early 2025), the Trustees have concluded that significant changes will be required to our operational model going into the FY25/26 period. To that end, it was agreed to suspend our pizza operations (costing circa £60k/month) as at mid Mar 2025 and realign around our trauma services for veterans, their families and those displaced from the East. In addition, the Charity now supports 3 x pet shelters and is bringing these animals into the veteran domain to act as therapeutic aids. These changes will be reported upon in next year’s accounts.

With these changes the Charity has a reliable expectation that it will have sufficient resources to continue in operational existence certainly for the rest of 2025. A new fundraising strategy will be kicked off in early Sep 2025 – with a view to finding new sources of income and bolstering those existing donors who have stood by us. Further details regarding the continuation of the Charity as a going concern can be found in the accounting policies.

It is the policy of the Charity that cash reserves are maintained to support ongoing activities of the organisation (as of Sep 2025 we have sufficient funds to see us through to early 2026). Nonetheless, it needs to be recognised that without adequate additional funding, the Charity may have to consider its viability into 2026.

Reserves policy

The trustees aim to maintain sufficient unrestricted reserves to ensure the charity’s financial stability. The target level of free reserves is three months of expenditure, which the trustees consider appropriate for the size and nature of the charity.

Principal funding sources

Funding continues to come in via many forms and ways. From generous individual donors – who might offer us £5 from their pension – to wealthy ‘Friends of the Charity’ and corporate sponsors, who might provide us £50,000. In between, there are other smaller enterprises and NGOs, community groups, and other charities who wholly support our aims and aspirations and also give generously.

We have accounts set up with Just Giving, Stripe, CAF, PayPal, and also are happy to take BACS transfers direct into our Bank. We also encourage the use of Gift Aid which (where appropriate) also adds to the Trust’s revenue.

Over the last 12 months we have raised £693,666 excluding the pizza base gift in kind donation.

HOPEFULL (SCIO)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

Major risks

As we have flagged to OSCR and our accountants – we acknowledge that there is (of course) some risk in operating in Ukraine. To that end, at the outset of the deployment, the Trustees insisted on the operational staff producing a risk register/matrix – which flags all the likely risks and the means of either reducing the impact and likelihood, or appropriate mitigation.

Our risk matrix/assessment is reviewed monthly and updated annually. To date, we have been fortunate (a reflection of our safeguarding and ‘duty of care’ policies) in only suffering from very minor incidents/accidents amongst our wonderful volunteers (cuts from sharp knives etc).

Other charities operating in Ukraine, along with 3 years of our own experience, indicate to us that the greatest risk is vehicle traffic incidents. As a direct result, we have a robust vehicle policy where our whole fleet is inspected weekly and reported upon monthly. A list of all ancillary items to be carried in each vehicle (including first aid kits etc) is maintained rigidly and overseen by our local vehicle manager.

In terms of uncertainties, we acknowledge that our commitment is ‘open ended’ - and wholly dependent upon the outcome of the war. But while we have the will, the funding and the volunteers to keep going, we are committed to seeing this enterprise continue till either hostility ceases, or the Trust should run short of funds.

But while our revenue still exceeds our expenditure – we remain committed to the cause of supporting Ukraine. Our financial statement above indicates that we remain in a ‘healthy’ position – yet we never take our fundraising for granted and are always focused on the continuing need for funds to keep the operation going.

Plans for future periods

In terms of the future, the Trustees acknowledge that should our funding no longer be sufficient to sustain a worthwhile operation, the charity would probably need to suspend operations and eventually wind up.

If/when this point in time was reached, the Trustees are fully aware of their responsibilities to cease operations in Ukraine.

But, as the war in Ukraine continues unabated, and the need for on-the-ground support remaining critical, the Trustees believe that their vital support should be sustained.

Structure, governance and management

The charity is Scottish Charitable Incorporated Organisation and is constituted under a Trust deed.

The trustees who served during the year and up to the date of signature of the financial statements were:

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(Resigned 31 December 2024)

(Appointed 31 December 2024 and resigned 15 May 2025) (Appointed 15 May 2025) (Appointed 15 May 2025)

Recruitment and appointment of trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

The number of trustees remained at 4 for the whole financial period (the Constitution requires a minimum of 3), and only are paid (in line with the Constitution which stipulates a maximum of 50% of the Trustees to receive any kind of remuneration).

Organisational structure

The board of trustees are considered to be the key management of the charity and are involved in day to day operations.

HOPEFULL (SCIO)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

The Trustees are considered key management personnel and are responsible for the day-to-day management of the charity.

Induction and training of trustees

New trustees receive an introduction to the charity’s governance, activities, and policies to ensure they understand their roles and responsibilities. Ongoing training and updates are provided as needed to keep trustees informed of regulatory and best practice developments.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

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Trustee

15 December 2025

HOPEFULL (SCIO)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 APRIL 2025

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HOPEFULL (SCIO)

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HOPEFULL (SCIO)

Opinion

We have audited the financial statements of Hopefull (SCIO) (the ‘charity’) for the year ended 30 April 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities 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 relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainities relating to going concern

We draw attention to Note 1.2 in the financial statements, which describes a material uncertainty regarding the Charity's ability to continue as a going concern.

The charity has suffered deficits for the last few years and as a result have significantly changed their operational model, which has resulted in them suspending their pizza operations in Ukraine. The charity now supports pet shelters and trauma service support for veterans in Ukraine. Management undertook a review of costs however there remains uncertainties over the charity's ability to secure sufficient future voluntary income and donations to support its ongoing operations.

Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

HOPEFULL (SCIO)

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOPEFULL (SCIO)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Irregularities, including fraud, are instance of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud and non compliance with laws and regulations is detailed below.

The audit team has the appropriate skills and expertise required and through discussions with management and trustees and knowledge of the sector to ensure any non compliance is recognised and all necessary disclosures are made. The controls in place help the charity mitigate the risk of fraud and also aids them in highlighting any instances of fraud that might have occurred.

We assess the susceptibility of the charity's financial statements to material misstatement including obtaining an understanding of how fraud and non compliance with laws and regulations may occur.

HOPEFULL (SCIO)

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOPEFULL (SCIO)

Because of the field in which the client operates we identified the following areas as those most likely to have a material impact on the financial statements;

Direct Impact on Financial Statements

Indirect Impact on Financial Statements

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

We communicate with those charged with governance, trustees regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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Chartered Accountants 11 Dudhope Terrace Dundee DD3 6TS 15 December 2025

Findlays Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

HOPEFULL (SCIO)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 APRIL 2025

Current financial year
Unrestricted
funds
2025
Restricted
funds
2025
Notes
£
£
Income from:
Donations and legacies
3
661,941
120,000
Total income
661,941
120,000
Expenditure on:
Raising funds
4
43,947
-
Charitable activities
5
965,858
140,005
Total expenditure
1,009,805
140,005
Net expenditure
(347,864)
(20,005)
Other recognised gains and losses:
Other losses
12
(1,657)
-
Net movement in funds
(349,521)
(20,005)
Reconciliation of funds:
Fund balances at 1 May 2024
418,101
133,851
Fund balances at 30 April 2025
68,580
113,846		 Total
2025
£
781,941
781,941
43,947
1,105,863
1,149,810
(367,869)
(1,657)
(369,526)
551,952
182,426		 Total
Restated
2024
£
1,196,735
1,196,735
21,378
1,345,296
1,366,674
(169,939)
(1,008)
(170,947)
722,899
551,952

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 13 to 25 form part of these financial statements.

HOPEFULL (SCIO)

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 APRIL 2025

Prior financial year
Notes
Unrestricted
funds
2024
£
Restricted
funds
2024
£
Income from:
Donations and legacies
3
1,171,735
25,000
Total income
1,171,735
25,000
Expenditure on:
Raising funds
4
21,378
-
Charitable activities
5
1,325,291
20,005
Total expenditure
1,346,669
20,005
Net income/(expenditure)
(174,934)
4,995
Other recognised gains and losses:
Other losses
12
(1,008)
-
Net movement in funds
(175,942)
4,995
Reconciliation of funds:
Fund balances at 1 May 2023
594,043
128,856
Fund balances at 30 April 2024
418,101
133,851		 Total
Restated
2024
£
1,196,735
1,196,735
21,378
1,345,296
1,366,674
(169,939)
(1,008)
(170,947)
722,899
551,952

HOPEFULL (SCIO)

BALANCE SHEET

AS AT 30 APRIL 2025

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets
The funds of the charity
Restricted income funds
18
Unrestricted funds
19		 2025
£
8,060
151,868
159,928
(68,737)
 £
191,235
91,191
282,426
(100,000)
182,426
113,846
68,580
182,426		 2024
Restated
£
£
255,798
39,534
309,123
348,657
(52,503)
296,154
551,952
-
551,952
133,851
418,101
551,952		 2024
Restated
£
£
255,798
39,534
309,123
348,657
(52,503)
296,154
551,952
-
551,952
133,851
418,101
551,952
551,952
-
551,952
133,851
418,101
551,952

The notes on pages 13 to 25 form part of these financial statements.

The financial statements were approved by the trustees on 15 December 2025

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HOPEFULL (SCIO)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 APRIL 2025

Notes
Cash flows from operating activities
Cash absorbed by operations
23
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Net cash generated from investing activities
Financing activities
Receipt of borrowings
Net cash generated from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
£
(261,443)
-
4,188
4,188
100,000
100,000
(157,255)
309,123
151,868		 2024
£
(41,022)
92,666
-		 £
(114,441)
51,644
-
(62,797)
371,920
309,123

The notes on pages 13 to 25 form part of these financial statements.

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

1 Accounting policies

Charity information

Hopefull (SCIO) is a charitable public benefit entity registered in Scotland. The principle address is

Hopefull (SCIO) was previously known as Siobhans Trust from 8th January 2020 to 5th December 2023.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future, however, the trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern.

The charity has suffered deficits for the last few years and as a result have significantly changed their operational model, which has resulted in them suspending their pizza operations in Ukraine. The charity now supports pet shelters and trauma service support for veterans in Ukraine. Management undertook a review of costs however as is normal with similar charities the income is uncertain due to its nature which makes it difficult to predict the future financial position.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Donated food supplies for distribution are recognised only when received. Stocks of undistributed donated food supplies are not valued for balance sheet purposes.

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Pizza vans 10%/25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Depreciation

Tangible fixed assets are depreciated over a period to reflect their estimated useful lives. The applicability of the assumed lives is reviewed annually, taking into account factors such as physical condition, maintenance and obsolescence.

Fixed assets are also assessed as to whether there are indicators of impairment. The assessment involves consideration of the economic viability of the purpose for which the asset is used.

Gifts in Kind

Included in the financial statements is income and expenses relating to pizza bases which are received in kind. In the accounts the actual number of pizza bases received in the period of 107,000 (2024- 420,000) was used and valued at a cost of a similar product in the UK which is around £0.82 (2024 - £0.78) per base.

Gift Aid Debtor

The Gift Aid debtor has been determined by assessing the probability of receipt from HMRC and the value of eligible donations.

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
661,941
120,000
Donations and gifts
MMR Rescue Donations
-
120,000
Ukraine project
573,666
-
Gift in Kind - pizza bases
88,275
-
Capital - Ukraine &
Turkey projects
-
-
661,941
120,000		 Total Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
781,941
1,171,735
25,000
1,196,735
120,000
-
-
-
573,666
846,235
-
846,235
88,275
325,500
-
325,500
-
-
25,000
25,000
781,941
1,171,735
25,000
1,196,735

Donated goods and services

The charity receives pizza bases for supplying through the mobile pizza vans for free for several organisations. The charity are liable for delivery costs on these. Included in the financial statements is a gift in kind to recognise the donation and expenditure in relation to the donation.

4 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 43,947 21,378

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

5 Expenditure on charitable activities

Charitable Charitable
activities activities
2025 2024
£ £
Direct costs
Depreciation and impairment 60,375 68,980
Accountancy 22,050 25,726
Consultancy 216,559 165,319
Telephone 2,309 1,801
Consultancy - Trustees 40,500 57,000
Motor 51,112 79,837
Food and Catering 181,840 494,781
Repairs and Maintenance 18,759 9,570
Sundry 5,995 3,174
Travel and Subsistence 164,600 141,829
Rent, Rates and Water 17,011 15,130
Insurance 253 604
Bank and Paypal Charges 4,802 6,523
Website and IT 396 12,374
Cleaning and Medical 1,604 10,838
788,165 1,093,486
Donations (see note 6) 140,188 208,635
Share of support and governance costs (see note 7)
Governance 177,510 43,175
1,105,863 1,345,296
Analysis by fund
Unrestricted funds 965,858 1,325,291
Restricted funds 140,005 20,005
1,105,863 1,345,296

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

6 Donations

Donations
Charitable Charitable
activities activities
2025 2024
£ £
Grants to institutions:
Mobile Medical Rescue 120,000 -
Mission Aid For Ukraine 10,000 -
Lviv Animal Protection Society 5,000 -
Mykolaiv/Kherson 1,000 -
Dundee Charitable Trust 4,188 170,643
Mariah's Trust - 24,544
Ukrainian Paramedic Team - 6,800
Xinix - 3,648
Kherson is Unconquered - 2,500
Volunteering and Help Centre - 500
140,188 208,635
The purpose of donations paid out in the year are as follows:
Mobile Medical Rescue - Funding to support operations toward humanitarian aid in Ukraine.
Mission Aid For Ukraine - Funding to support operations toward humanitarian aid in Ukraine.
Lviv Animal Protection Society - Donation to support animals in shelters impacted by the war in Ukraine.
Mykolaiv/Kherson - Donation to support animals in shelters impacted by the war in Ukraine.

7 Support costs allocated to activities

Support costs allocated to activities
Charitable
activities
2025
£
Governance
177,510
2025
Governance costs comprise:
£
Audit fees
17,850
Legal and professional
159,660
177,510		 Total
2024
£
43,175
2024
£
16,350
26,825
43,175

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

8 Auditor's remuneration

Fees payable to the charity's auditor and associates:
For audit services
Audit of the financial statements of the charity
For other services
All other non-audit services		 2025
£
17,850
1,380		 2024
£
16,350
12,486

9 Trustees

Trustees who received remuneration and/or expenses are included in the disclosures in note 23. Other than this none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Other gains and losses

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) upon: £ £
Foreign exchange 1,657 1,008

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

13
Tangible fixed assets
Cost
At 1 May 2024
Disposals
At 30 April 2025
Depreciation and impairment
At 1 May 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 30 April 2025
Carrying amount
At 30 April 2025
At 30 April 2024
14
Debtors
Amounts falling due within one year:
Other debtors
15
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
16
Creditors: amounts falling due after more than one year
Borrowings		 Pizza vans
£
414,294
(5,983)
408,311
158,496
60,375
(1,795)
217,076
191,235
255,798
2025
2024
£
£
8,060
39,534
2025
2024
£
£
7,228
13,414
61,509
39,089
68,737
52,503
2025
2024
£
£
100,000
-

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

17 Loans and overdrafts

Other loans
Payable after one year		 2025
£
100,000
100,000		 2024
£
-
-

A concessionary loan was received in the year from a regular contributor. There is no interest due on the balance, which is below the market rate, and repayment terms are greater than 5 years.

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 May 2024 Incoming Resources At 30 April At 30 April
resources expended 2025
£ £ £ £
MMR Donations - 120,000 (120,000) -
Capital - Ukraine & Turkey project 133,851 - (20,005) 113,846
133,851 120,000 (140,005) 113,846
Previous year: At 1 May 2023 Incoming Resources At 30 April
resources expended 2024
£ £ £ £
Capital - Ukraine & Turkey project 128,856 25,000 (20,005) 133,851

Capital - Ukraine & Turkey project - relates to monies received specifically to purchase capital items such as pizza trucks etc for use on both Ukraine & Turkey.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 May 2024 Incoming Resources Gains and At 30 April
resources expended losses 2025
£ £ £ £ £
General funds 418,101 661,941 (1,009,805) (1,657) 68,580

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

19 Unrestricted funds (Continued)
Previous year: At 1 May 2023 Incoming Resources Gains and At 30 April
resources expended losses 2024
£ £ £ £ £
General funds 594,043 1,171,735 (1,346,669) (1,008) 418,101
20 Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 30 April 2025:
Tangible assets 77,389 113,846 191,235
Current assets/(liabilities) 91,191 - 91,191
Long term liabilities (100,000) - (100,000)
68,580 113,846 182,426
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 30 April 2024:
Tangible assets 121,947 133,851 255,798
Current assets/(liabilities) 296,154 - 296,154
418,101 133,851 551,952

21 Financial commitments, guarantees and contingent liabilities

Due to the countries in which the charity are operating the nature of the activities there is currently not sufficient motor vehicle insurance in place to cover the vehicles whilst they are operating in the Ukraine. The vehicles have a NBV of around £191k and if these were to be damaged/destroyed there would be a potential liability to cover to enable the charity to continue with its current operations.

22 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

22 ~+Related party transactions

(Continued)

In order to facilitate the rapid deployment of the team in Ukraine, trustees incurred charity expenses personally and were reimbursed. Often larger sums of monies were advanced to trustees to cover these expenses to ensure the continued operation of the project amounting.

Further to the reimbursement of expenses and costs, consultancy fees of £40,500 (2024 - £57,000) were paid to four trustees in the year for services and advice, see breakdown below:

2025 2024 £19,500 £16,500 £21,000 £36,000 Enil £4,500

In addition to the above the following trustees were reimbursed for travel & subsistence costs relating to the operations in the Ukraine as below.

£415 £2,207 £287 £385

Adminof the andcharity) consultancyof £15,000 costs(2024 were£19,500),paid a.travel costs w ereho isreimbursed the spouseof £a£337).(who is a trustee

£919 was received from Glenalmond College in the form of a donation from a carol concert.Ps is also the director of Glenalmond College.

-23-

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

23 Cash absorbed by operations 2025 2024
£ £
Deficit for the year (367,869) (169,939)
Adjustments for:
Foreign exchange differences (1,657) (1,008)
Depreciation and impairment of tangible fixed assets 60,375 68,980
Movements in working capital:
Decrease/(increase) in debtors 31,474 (22,791)
Increase in creditors 16,234 10,317
Cash absorbed by operations (261,443) (114,441)
24 Analysis of changes in net funds
At 1 May 2024 Cash flows At 30 April 2025
£ £ £
Cash at bank and in hand 309,123 (157,255) 151,868
Loans falling due after more than one year - (100,000) (100,000)
309,123 (257,255) 51,868
25 Prior period adjustment
Changes to the balance sheet
At 30 April 2024
As previously Adjustment As restated
reported
£ £ £
Capital funds
Income funds
Restricted funds 156,771 (22,920) 133,851
Unrestricted funds 395,181 22,920 418,101
Total equity 551,952 - 551,952

A prior year adjustment has been recognised in relation to the Keep Scotland Beautiful fund. It was discovered this was previously spent at the time funding was recieved in 2021. The brought forward fund balances have been adjusted to reflect this.

HOPEFULL (SCIO)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

25 Prior period adjustment

(Continued)

Changes to the profit and loss account

Changes to the profit and loss account
Period ended 30 April 2024
As previously Adjustment As restated
reported
£ £ £
Raising funds 1,904 19,474 21,378
Charitable activities 1,364,770 (19,474)
1,345,296
Net movement in funds (170,947)
-		 (170,947)

A prior year adjustment has been recognised to reallocate advertising costs which were previously accounted for as chartiable expenditure to raising funds.

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