REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Hope for the Nations Childrens Charity |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Hope for the Nations Childrens Charity |
Hope for the Nations Childrens Charity |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 18 |
Hope for the Nations Childrens Charity (Registered number: 04432345) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Hope for The Nations is a non-governmental, non-political organisation created as a charitable legal entity in 2002. The Memorandum of Association defines the charity's 'Objects' as being: |
"To relieve poverty and advance education with a Christian ethos by the provision of funds, equipment, training, and personnel, particularly but not exclusively to those persons living in Africa". |
Whilst Hope For The Nations carries out some disaster relief work, it considers that the best method of meeting its objectives is through long term investment in the lives of individual orphans and widows by sponsorship, establishing children's homes, feeding programmes, education, encouraging self-sufficiency through developing micro enterprises, and by providing a source of clean water, and providing humanitarian aid. It partners in coalition with others with similar objectives, in order to maximise the value to beneficiary groups. |
Kwattswap is a working name of Hope for the Nations Children's Charity with the purpose of raising funds for solar equipment for widows, schools, clinics, hospitals and communities in developing countries. |
Grantmaking |
Following requests received for grants, the Chief Executive Officer is able to agree grants of up to £5,000. For any amount in excess of £5,000, the approval of the Board of Trustees is required. |
Hope for the Nations Childrens Charity (Registered number: 04432345) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
ACHIEVEMENT AND PERFORMANCE |
Financial |
The income of the charity decreased over last year, being £85,274 for 2022/23 compared with £94,632 for 2021/22, and resources expended increased, being £77,393 compared with £54,682, resulting in a small surplus of £7,881 (2022: £39,950). |
Kenya |
Soweto Hope Bright Future School |
We have continued to provide for the feeding programme and the Baby Care Unit for the benefit of the children. |
Kolongolo |
Our support for the widows continues with monthly donations. |
Mukwa |
We continue to help the widows financially on a monthly basis. |
Hope Transformation Centre and New Life Children's Home, Bungoma |
Under the leadership of Patrick Siabutu, the Hope Transformation Centre inspires many Kenyan leaders as he manages and puts to good use the land that we provided. In addition to the ongoing existing carpentry, masonry and tailoring skills training centre the Hope Transformation Centre accommodates a demonstration plot for organic farming and training. |
Turkana |
John Lokoli continues to oversee the Education project in Turkana where we send 30 children to secondary school. All these children have individual sponsors to whom we are very grateful. |
Malawi |
We are continuing our support of Ahava Ministries and Gulugufe in their projects that include health care, education, agriculture and sustainable projects. |
Romania, India and Eswatini |
We continue to send the sponsorship support to these projects and workers. |
KwattSwap |
KwattSwap is now an operating name of HFTN with the aim to raise funds through donations for the purpose of purchasing solar equipment to be sent out to projects that we support. |
20 solar kits have been sent out to widows in Mukwa, Kenya and funds are being raised to purchase a further 20 solar kits. Funds are also being raised to purchase and install a solar bore hole pump in Butiikwa village in Uganda. |
In previous years the charity had faced difficulties in continuing with their work due to lockdown restrictions within the countries. It still means that no visits to the projects have been possible by HFTN directors and staff, however the 40 solar kits sent out to Kenya in two batches have now been delivered to the widows. |
Hope for the Nations Childrens Charity (Registered number: 04432345) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
FINANCIAL REVIEW |
Reserves policy |
Whilst the trustees consider that a general fund balance of £5,000 is desired, to ensure that support costs are covered for at least 3 months in advance, we have recognised that there may be times when this will need to be flexible, due to particular financial pressures at particular times. |
At the end of this financial year the level of reserves had increased to £116,006 (2022: £108,125) and available funds, i.e. those excluding fixed assets and restricted funds, stood at £106,917 (2022: £98,449). |
Investment policy and objectives |
Under the memorandum and Articles of Association, the Charity has the power to make investments as the trustees see fit. The trustees consider any investments on an individual basis, and are duty bound to seek appropriate professional advice before reaching any decision. At the year end the Charity had no invested funds. |
Volunteers and Supporters |
The charity is very grateful to all those who gave so generously of their time, talents and money, both here in the UK, and in Africa. It has only been able to achieve all that it has because of such generosity. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The organisation is charitable company limited by guarantee, incorporated on 7 May 2002 and registered as a charity on 23 July 2003. |
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. |
Recruitment and appointment of new trustees |
The directors of the company are also charity trustees for the purpose of charity law and under the company's Articles are known as members of the Management Committee. The Trustees are responsible for the administration and investment policy of the Scheme. Trustees are appointed in accordance with the Articles of Association of the Charitable Company. |
Organisational structure |
The organisation, including the CEO and the volunteers work from home, our registered office being Arquen House 4-6 Spicer Street, St Albans, Herts, AL3 4PQ, from which it carries out its direction of operations. This includes fundraising, networking and communications, and its accounts. |
The Board of Trustees seeks to meet a minimum of four times a year, to review and monitor the work and management of the Charity.This body also approves annual budgets and scrutinises policy decisions. |
The board consisted of the CEO, three directors and the Company Secretary, who is responsible for completing statutory returns on behalf of the Charity. The Finance sub-committee is reported to monthly, to monitor the financial management of the Charity. |
Wider network |
Hope for the Nations Children's Charity seeks and encourages partnership with others, to enhance the work of the Charity. |
Our coalition partnerships include Hope for the Nations (Canada, Malawi, Romania, Eswatini), Elim (U.K), Ahava Ministries, Gulugufe and Ignite Hubs International as well as with church groupings both here and abroad. |
Risk management |
The Trustees have a duty to identify and review the risks to which Hope for The Nations Children's Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
The trustees actively review the major risks that the Charity faces on a regular basis. The trustees believe that they have the systems in place to mitigate these risks. This includes matters of health and safety, whereby the Health and Safety matters will be discussed by the board on occasion. |
Hope for the Nations Childrens Charity (Registered number: 04432345) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
A J Bennewith |
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA |
3 Wey Court |
Mary Road |
Guildford |
Surrey |
GU1 4QU |
Chief Executive |
L Dennis |
Bankers |
National Westminster Bank plc |
P O Box 15 |
Cathedral Square |
Peterborough |
Cambridgeshire |
PE1 1HW |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Hope for the Nations Childrens Charity |
Independent examiner's report to the trustees of Hope for the Nations Childrens Charity ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
....................................................... |
A J Bennewith |
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA |
3 Wey Court |
Mary Road |
Guildford |
Surrey |
GU1 4QU |
Date: ............................................. |
Hope for the Nations Childrens Charity |
Statement of Financial Activities |
for the Year Ended 31 July 2023 |
31.7.23 | 31.7.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities | 5 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 13 | (11,052 | ) | 11,052 | - | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 108,125 |
Hope for the Nations Childrens Charity (Registered number: 04432345) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 99,175 |
Restricted funds | 8,950 |
TOTAL FUNDS | 108,125 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Hope for the Nations Childrens Charity (Registered number: 04432345) |
Balance Sheet - continued |
31 July 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | DONATIONS AND LEGACIES |
31.7.23 | 31.7.22 |
£ | £ |
Donations |
Gift aid |
3. | INVESTMENT INCOME |
31.7.23 | 31.7.22 |
£ | £ |
Deposit account interest | 41 | 103 |
4. | RAISING FUNDS |
Raising donations and legacies |
31.7.23 | 31.7.22 |
£ | £ |
Fundraising and publicity | 4,045 | 1,553 |
5. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 6) | Totals |
£ | £ | £ |
Overseas support and project costs | 59,915 | 13,433 | 73,348 |
6. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Overseas support and project costs | 11,932 | 1,501 | 13,433 |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
6. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
31.7.23 | 31.7.22 |
Overseas |
support |
and |
project | Total |
costs | activities |
£ | £ |
Rates and water | 2,400 | 2,200 |
Telephone | 55 | 52 |
Postage and stationery | 7,433 | 1,974 |
Sundries | 411 | 60 |
Motor and travel | - | 14 |
IT and computer costs | 591 | 572 |
Depreciation of tangible and heritage assets | 73 | 84 |
Interest payable and similar charges | 969 | 929 |
Accountancy fees | 1,320 | 1,080 |
Trustees' meeting expenses | 181 | 131 |
13,433 | 7,096 |
7. | NET INCOME/(EXPENDITURE) |
The net movement in funds is stated after charging the following: |
2023 | 2022 |
£ | £ |
Independent Examiner's remuneration | 1,320 | 1,080 |
Depreciation of tangible fixed assets | 73 | 84 |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022. |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | TRUSTEES' REMUNERATION AND BENEFITS - continued |
Trustees' expenses |
During the year, there were trustee meeting expenses of £181. (2022: £131). |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | (6,568 | ) | 6,568 | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 53,623 | 14,552 |
TOTAL FUNDS CARRIED FORWARD | 99,175 | 8,950 | 108,125 |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 August 2022 and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Other debtors |
Gift Aid recoverable | 199 | 386 |
Amount due from Hftn Shop Ltd | 83,691 | 61,092 |
Due from Hftn Shop (H & V) Ltd | 1,729 | - |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Accruals and deferred income |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.8.22 | in funds | funds | 31.7.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 38,082 | (14,610 | ) | (1,322 | ) | 22,150 |
HFTN shop- designated | 61,093 | 32,328 | (9,730 | ) | 83,691 |
HFTN Shop (H & V) Ltd-designated | - | 1,729 | - | 1,729 |
19,447 | ( |
) |
Restricted funds |
Soweto School Feeding fund | 182 | (162 | ) | 107 | 127 |
M-Malawi | 460 | 183 | (367 | ) | 276 |
I-India | 449 | (2,755 | ) | 2,577 | 271 |
K-Bungoma | 30 | (377 | ) | 378 | 31 |
K-Elim-Tur | 100 | (1,760 | ) | 1,760 | 100 |
K-Mukwa | 72 | (793 | ) | 792 | 71 |
KR-Ol. Kalo | - | 146 | (105 | ) | 41 |
R-Romania | 278 | (151 | ) | (35 | ) | 92 |
S-New. Hope | 1,770 | 200 | (332 | ) | 1,638 |
Kenya Education | 3,166 | (435 | ) | (91 | ) | 2,640 |
Kolongo Widows & School | 75 | (278 | ) | 314 | 111 |
Kilowatt Swap | 368 | 835 | - | 1,203 |
Ahava | 1,878 | (692 | ) | 527 | 1,713 |
Gulugufe | 122 | (5,527 | ) | 5,527 | 122 |
(11,566 | ) |
TOTAL FUNDS | 7,881 | 116,006 |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,482 | (16,092 | ) | (14,610 | ) |
HFTN shop- designated | 32,328 | - | 32,328 |
HFTN Shop (H & V) Ltd-designated | 1,729 | - | 1,729 |
( |
) | 19,447 |
Restricted funds |
Soweto School Feeding fund | 1,900 | (2,062 | ) | (162 | ) |
M-Malawi | 4,056 | (3,873 | ) | 183 |
I-India | - | (2,755 | ) | (2,755 | ) |
K-Bungoma | - | (377 | ) | (377 | ) |
K-Elim-Tur | 180 | (1,940 | ) | (1,760 | ) |
K-Mukwa | - | (793 | ) | (793 | ) |
KR-Ol. Kalo | 5,435 | (5,289 | ) | 146 |
R-Romania | 600 | (751 | ) | (151 | ) |
S-New. Hope | 9,952 | (9,752 | ) | 200 |
Kenya Education | 9,208 | (9,643 | ) | (435 | ) |
Kolongo Widows & School | 1,230 | (1,508 | ) | (278 | ) |
Kilowatt Swap | 14,114 | (13,279 | ) | 835 |
Ahava | 2,160 | (2,852 | ) | (692 | ) |
Gulugufe | 900 | (6,427 | ) | (5,527 | ) |
( |
) | (11,566 | ) |
TOTAL FUNDS | ( |
) | 7,881 |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.8.21 | in funds | funds | 31.7.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 14,780 | 19,070 | 4,232 | 38,082 |
HFTN shop- designated | 38,843 | 33,050 | (10,800 | ) | 61,093 |
53,623 | 52,120 | (6,568 | ) | 99,175 |
Restricted funds |
Soweto School Feeding fund | 179 | (133 | ) | 136 | 182 |
M-Malawi | 497 | 360 | (397 | ) | 460 |
I-India | 222 | (2,444 | ) | 2,671 | 449 |
K-Bungoma | 65 | (376 | ) | 341 | 30 |
K-Elim-Tur | 100 | (1,920 | ) | 1,920 | 100 |
K-Mukwa | 71 | (871 | ) | 872 | 72 |
R-Romania | 2,332 | (1,983 | ) | (71 | ) | 278 |
S-New. Hope | 1,636 | 867 | (733 | ) | 1,770 |
Kenya Education | 8,603 | (5,661 | ) | 224 | 3,166 |
Kolongo Widows & School | 68 | (352 | ) | 359 | 75 |
Kilowatt Swap | 329 | 39 | - | 368 |
Ahava | 434 | 746 | 698 | 1,878 |
Gulugufe | 15 | (442 | ) | 549 | 122 |
K- the KCP | 1 | - | (1 | ) | - |
14,552 | (12,170 | ) | 6,568 | 8,950 |
TOTAL FUNDS | 68,175 | 39,950 | - | 108,125 |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 27,487 | (8,417 | ) | 19,070 |
HFTN shop- designated | 33,050 | - | 33,050 |
60,537 | (8,417 | ) | 52,120 |
Restricted funds |
Soweto School Feeding fund | 2,076 | (2,209 | ) | (133 | ) |
M-Malawi | 5,217 | (4,857 | ) | 360 |
I-India | 301 | (2,745 | ) | (2,444 | ) |
K-Bungoma | 375 | (751 | ) | (376 | ) |
K-Elim-Tur | 180 | (2,100 | ) | (1,920 | ) |
K-Mukwa | - | (871 | ) | (871 | ) |
R-Romania | 663 | (2,646 | ) | (1,983 | ) |
S-New. Hope | 12,628 | (11,761 | ) | 867 |
Kenya Education | 8,588 | (14,249 | ) | (5,661 | ) |
Kolongo Widows & School | 480 | (832 | ) | (352 | ) |
Kilowatt Swap | 307 | (268 | ) | 39 |
Ahava | 2,340 | (1,594 | ) | 746 |
Gulugufe | 940 | (1,382 | ) | (442 | ) |
34,095 | (46,265 | ) | (12,170 | ) |
TOTAL FUNDS | 94,632 | (54,682 | ) | 39,950 |
Unrestricted Funds: |
HFTN Shop fund -designated fund for income from the charity shop in Peterborough. |
HFTN Shop (H & V) Ltd fund- designated fund for income from the charity shop in Ramsey. |
Restricted Funds: |
I-India - People of the Way-Children's Ministry in India. |
M- Malawi- Hope Village Malawi, a project of HFTN Malawi, incorporating Children's Homes, Day Care Centre, Clinic, Community Development, Baby Centre, Famine Relief, Micro Enterprise Projects. Missionary Support funds are also sent here. |
K- Bungoma- Hope Transformation Centre- Community Development Project. |
K- Mukwa- Mukwa Widows Support, Kenya. |
KR Ol.-Kalo- Restricted fund for Ol Kalo, Kenya- Village Borehole Project. |
R- Romania- Firm Foundations, Romania- providing medical care to vulnerable children. |
S-New. Hope- New Hope Centre, Swaziland- orphanage. |
K- The KCP- The Kenyan Children's Project- Street Children Ministry. |
Soweto- incorporates Hope and Bright Future School & Baby Feeding Project. |
Kolongolo Widows and School- for the support of widows with food supplements and agricultural training and materials and for the support of a feeding programme for children attending Kolongolo School. Both projects are located in Kolongolo, West Kenya. |
Hope for the Nations Childrens Charity |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | MOVEMENT IN FUNDS - continued |
Kenya Education- for the funding of secondary and further education for selected vulnerable children from various Hope for the Nations partnered projects in Kenya. |
KwattSwap- records the funding received and paid out in respect of the Kilowatt Swap campaign. KwattSwap is a working name for Hope for the Nations in Charity Commission records and is a fundraising tool for the purchase of renewable energy products which are sent to vulnerable people, hospitals and schools in the developing world.We ask people to reduce the amount of dirty energy they use and donate the monetary value of their saving to purchase clean energy kits for those in need. |
Ahava- Ahava Ministries - Providing a clinic, health, hygiene and nutrition education, agricultural projects. |
Gulugufe-Gulugufe Malawi - Permaculture training and community development. |
14. | OTHER FINANCIAL COMMITMENTS |
Operating lease commitments |
The charity has signed a lease relating to shop premises in Peterborough, in respect of Hftn Shop Ltd. At the balance sheet date, the charity had the following future minimum lease payments under non-cancellable operating leases for each of the following periods: |
2023 | 2022 |
£ | £ |
Due within one year | 9,600 | 9,600 |
Due between one and five years | 38,400 | 38,400 |
Due after more than five years | 18,400 | 28,000 |
15. | RELATED PARTY DISCLOSURES |
Key management personnel remuneration |
No remuneration was paid to key management personnel in either 2022 or 2023. |
Related party transactions |
One trustee, Will Symons, is also a trustee of Nehemiah Construction. A full provision was made against the debt of £30,000 due from Nehemiah Construction in the 2017 accounts. No money has been received in respect of this loan in either 2022 or 2023. |
L Dennis as CEO is considered to be a related party. During the year he received expenses of £2,400 for Use of Home as Office (2022: £2,200) and a company of which he and his wife are directors, Bright River Ltd, received £1,271 in fundraising commission payments from the Charity (2022:£nil). |