The Trustees present their annual report and financial statements for the year ended 5 April 2024.
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 Companies Act 2006 and "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 was established in memory of the Trustees’ daughter, Emily, primarily to follow through on a hope she had to help orphaned and abandoned children in Peru. A principal activity of the charity crystalised as the provision of remedial education in two children’s homes in Arequipa, and funding to help to improve the facilities in the homes. Other activities within the context of her Christian beliefs and fellowship would also be supported.
During this specific period Emily Peru Hope Trust’s objectives were to fund:
Remedial teachers in two specific children's homes in Arequipa, Peru.
Educational materials to assist teachers.
Ensure school uniforms were provided for each child as needed.
Further education and vocational training for those leaving school.
Improvement of living conditions in the homes.
Summer camps during school holidays.
Christmas presents and special meals plus other treats for the Homes.
Continued support for a particular family that had suffered violent bereavement, enabling them to live independently and rebuild their lives.
A weekly lunch for local Arequipa elderly, provided by one of the Homes.
Nine months support for a Latin Link couple working with the elderly, who also engaged with needs of the Homes.
Monthly support towards the work of a Latin Link physiotherapist in a Special Needs school, Shalom, in Arequipa.
Nine months of funding towards a home for abused and abandoned girls in Brazil.
Monthly funding for anti-people-trafficking group Tamar (based in All Souls Church of England, Langham Place, London).
Should sufficient be available, to promote the Christian gospel, encourage bible-reading, and attempt to relieve distress from poverty or where difficult circumstances are observed, locally, or elsewhere in the UK or Peru, or as considered appropriate by the Trustees.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
All the above aims were met and, in some cases, exceeded, as in:
Funding was provided for four remedial teachers during 2023-4, two full-time at El Amor de Dios and two part-time at New Hope Children’s Home.
Overall educational standards were being improved, such that many children were able to progress into further and higher education, frequently achieving scholarships; and
In consequence more funding for vocational and alumni activity was needed and therefore provided, including
Specific funding for particular students where necessary to enable them to pursue specific courses.
Accommodation and support for young adults moving into work or particularly further education has become an expanding need; a substantial portion of the cost of building rooms for them has been provided. What will be effectively “Halls of Residence” for the young ladies of El Amor de Dios are to be built, following provision already made for the male children now recognised by the state as adults.
Support of the funding of independent Christian private school attendance for New Hope children.
School uniforms plus underwear and some casual clothing and shoes were funded.
Rest and refreshment at summer camps improved the mental health and well-being of children and staff and their families.
Not just all the children but some staff shared Christmas treats in encouragement.
Independent living for a family whose parents had been killed was enabled.
Over 100 impoverished elderly people had at least one nutritious meal every week.
In London, vulnerable adults were befriended and assisted with legal assistance to help free them from subversive and destructive controlling influences.
Summary of Impacts and Benefits
Successfully meeting all the aims and objectives detailed above, in addition to the obvious benefits noted above in relieving distress and difficulties, has improved lives and the potential for the children. Many are now working towards professional qualifications. In their daily schooling assistance, rest and relaxation in holidays, and at Christmas with celebrations and special meals, the children and staff enjoyed tangible proof of God’s love.
Emily Peru Hope Trust – its Trustees – do not request financial contributions or seek opportunities for income or engage in fund-raising. Nonetheless, sufficient continues to be received by the Charity in voluntary donations to fund its modest aims and much more to date. This year overdue Gift Aid refunds were received enabling funding paid to the assorted causes to reach 136% of net donation receipts; sadly, unlikely to be repeated. The Charity has no physical assets. Donations received are promptly passed on to intended recipients. Costs are kept to a minimum necessary to meet the objectives, equivalent to 1.58% of donations received in 2023-4, down from 1.81% the previous year, and debts are paid promptly. Over 98% of income was given to the projects listed. Over 94% was directed to the two Children’s Homes in Arequipa, Peru.
Going Concern
Considering the the Trustees are satisfied that there are adequate funds in place to ensure that the charity can continue its activities and the financial statements for the year ended 5 April 2024 can be approved as a going concern.
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The Charity is a company limited by guarantee acknowledged since 2016 by HMRC as a charitable undertaking, and approved as a Charity by the Northern Ireland Charities Commission in March 2020.
Company Number: NI638221
Northern Ireland Charity number: NIC107506
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The current Trustees regularly consider inviting individuals, who share the ethos under which the Charity was established and are willing to take on board increasing workloads for the Charity, to become Trustees.
The Trustees report was approved by the Board of Trustees.
I report to the Trustees on my examination of the financial statements of Emily Peru Hope Trust (the Charity) for the year ended 5 April 2024.
As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity are not required to be audited under section 65 of the Charities Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 65 of the Charities Act 2008 (the 2008 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission Northern Ireland under section 65(9)(b) of the Charities Act 2008.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Emily Peru Hope Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 84 North Road, Belfast, Co. Antrim, BT4 3DJ, Northern Ireland.
The financial statements have been prepared in accordance with the Charity's Deed, the Companies Act 2006, 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 Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
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.
Expenditure is recognised when the Charity is legally entitled to make payment.
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.
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, 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.
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.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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.
Gift Aid
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
Other charges includes companies house filling fee £13. (2023:£13) and domain name fee £19 (2023:£Nil).
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.
There were no disclosable related party transactions during the year (2023 - none).