Charity registration number NIC107506
Company registration number NI638221 (Northern Ireland)
EMILY PERU HOPE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
EMILY PERU HOPE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J T Coates
Mrs L M Coates
Charity number
NIC107506
Company number
NI638221
Registered office
84 North Road
Belfast
Co. Antrim
Northern Ireland
BT4 3DJ
Independent examiner
Moore Braniff
2 Beechill Business Park
96 Beechill Road
Belfast
Northern Ireland
BT8 7QN
EMILY PERU HOPE TRUST
CONTENTS
Page
Trustees report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 12
EMILY PERU HOPE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 5 APRIL 2024
- 1 -

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)".

Objectives and activities

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:

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

EMILY PERU HOPE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 2 -
Achievements and performance
Significant activities and achievements against objectives

All the above aims were met and, in some cases, exceeded, as in:

 

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.

Financial review

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

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.

Major risks

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.

EMILY PERU HOPE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 3 -
Structure, governance and management

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:

Mr J T Coates
Mrs L M Coates
Recruitment and appointment of trustees

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.

Mr J T Coates
Mrs L M Coates
Trustee
Trustee
22 July 2024
EMILY PERU HOPE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF EMILY PERU HOPE TRUST
- 4 -

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.

Responsibilities and basis of report

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.

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 that in any material respect:

1

accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Alan Moore
Moore Braniff
Chartered Accountants
2 Beechill Business Park
96 Beechill Road
Belfast
BT8 7QN
Northern Ireland
Dated: 22 July 2024
EMILY PERU HOPE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
- 5 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
45,336
62,859
Investments
4
196
316
Total income
45,532
63,175
Expenditure on:
Charitable activities
5
60,758
57,555
Other expenditure
11
32
14
Total expenditure
60,790
57,569
Net income/(expenditure) and movement in funds
(15,258)
5,606
Reconciliation of funds:
Fund balances at 6 April 2023
28,161
22,555
Fund balances at 5 April 2024
12,903
28,161

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
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 6 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
13
9,011
8,155
Cash at bank and in hand
5,014
21,032
14,025
29,187
Creditors: amounts falling due within one year
14
(1,122)
(1,026)
Net current assets
12,903
28,161
Net assets excluding pension liability
12,903
28,161
The funds of the Charity
Unrestricted funds
12,903
28,161
12,903
28,161

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 5 April 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 22 July 2024
Mr J T Coates
Trustee
Company registration number NI638221 (Northern Ireland)
EMILY PERU HOPE TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 7 -
1
Accounting policies
Charity information

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.

1.1
Accounting convention

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.

1.2
Going concern

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.

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
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.
1.5
Expenditure

Expenditure is recognised when the Charity is legally entitled to make payment.

 

EMILY PERU HOPE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 8 -
1.6
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.

1.7
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.

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.

1.8
Employee benefits

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.

EMILY PERU HOPE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 9 -
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.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
36,325
54,762

Gift Aid

9,011
8,097
45,336
62,859
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
196
316
5
Expenditure on charitable activities
Grant funding
Grant funding
2024
2023
£
£
Direct costs
Grant funding of activities (see note 6)
59,594
55,599
Share of support and governance costs (see note 7)
Governance
1,164
1,956
60,758
57,555
Analysis by fund
Unrestricted funds
60,758
57,555
EMILY PERU HOPE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 10 -
6
Grants payable
Grant funding
Grant funding
2024
2023
£
£
Grants to institutions:
El Amor de Dios Childrens Home
37,546
28,891
New Hope Childrens Home
18,588
21,888
Church of England Childrens Home Brazil
-
1,080
Other Latin America based Charities
2,520
1,600
Other UK based Charities
940
2,140
59,594
55,599
-
7
Support costs allocated to activities
2024
2023
£
£
Governance costs
1,164
1,956
Analysed between:
Grant funding
1,164
1,956
8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,164
1,956
9
Trustees
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:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
EMILY PERU HOPE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
10
Employees
(Continued)
- 11 -
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11
Other
Unrestricted
Unrestricted
funds
funds
2024
2023
Other charges
32
14
32
14

Other charges includes companies house filling fee £13. (2023:£13) and domain name fee £19 (2023:£Nil).

12
Taxation

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

13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
9,011
8,155
14
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,122
1,026
15
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 6 April 2023
Incoming resources
Resources expended
At 5 April 2024
£
£
£
£
General funds
28,161
45,532
(60,790)
12,903
EMILY PERU HOPE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
15
Unrestricted funds
(Continued)
- 12 -
Previous year:
At 6 April 2022
Incoming resources
Resources expended
At 5 April 2023
£
£
£
£
General funds
22,555
63,175
(57,569)
28,161
16
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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