RESTORE HOPE

Company limited by guarantee

Company Registration Number:
04510290 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

RESTORE HOPE

Contents of the Financial Statements

for the Period Ended 30 November 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

RESTORE HOPE

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Principal activities of the company

Restore Hope utilises the land and buildings of Latimer Park to achieve its charitable objectives. The charity’s key strategic focus is to help children, young people and families to restore their hope by halting downward cycles into crisis, in order to stabilise and support them to reverse this trend. This work is delivered by a motivated, and highly skilled staff team, an army of faithful volunteers and evidenced-based external partners. We deliver courses, run large-scale memory-making events, and offer on-going support groups that we believe contribute to breaking the downward spiral into crisis, depression and despair. Our programmes and activities provide: Tools for life including practical support in things like cooking, shopping and budgeting Positive connections, providing courses and small groups to rebuild broken family units Encouragement to address low confidence Skills training to give people technical skills, and career support and advice.



Directors

The director shown below has held office during the whole of the period from
1 December 2022 to 30 November 2023

Gary Grant


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
28 August 2024

And signed on behalf of the board by:
Name: Gary Grant
Status: Director

RESTORE HOPE

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 697,198 597,614
Gross profit(or loss): 697,198 597,614
Administrative expenses: ( 787,837 ) ( 644,586 )
Operating profit(or loss): (90,639) (46,972)
Profit(or loss) before tax: (90,639) (46,972)
Profit(or loss) for the financial year: (90,639) (46,972)

RESTORE HOPE

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,795,168 2,805,207
Total fixed assets: 2,795,168 2,805,207
Current assets
Debtors: 4 16,432 17,198
Cash at bank and in hand: 213,729 286,011
Total current assets: 230,161 303,209
Creditors: amounts falling due within one year: 5 ( 17,812 ) ( 10,260 )
Net current assets (liabilities): 212,349 292,949
Total assets less current liabilities: 3,007,517 3,098,156
Creditors: amounts falling due after more than one year: 6 ( 503,800 ) ( 503,800 )
Total net assets (liabilities): 2,503,717 2,594,356
Members' funds
Profit and loss account: 2,503,717 2,594,356
Total members' funds: 2,503,717 2,594,356

The notes form part of these financial statements

RESTORE HOPE

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 August 2024
and signed on behalf of the board by:

Name: Gary Grant
Status: Director

The notes form part of these financial statements

RESTORE HOPE

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Accounting Basis The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Restore Hope meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going Concern The Board of Trustees have assessed the Charity’s requirements for the foreseeable future. The Trustees have taken a conservative approach to budgeting and are confident that the Charity’s reserves are sufficient to enable operations (including likely donations requests) to continue at a sustainable level for a period of at least 12months from the date of approval of these financial statements. The Charity therefore continues to adopt the going concern basis in preparing its financial statements. As there are no material uncertainties about the Charity’s ability to continue operating, the accounts have been prepared on a going concern basis. Income Income represents donations and proceeds of fundraising, monies received for events and other self-funding activities. Income has been accounted for on the basis of cash received, except for tax recoverable in respect of Gift Aid receipts and interest receivable which are accounted for on an accrual’s basis Expenditure Expenditure is accounted for on an accrual’s basis, inclusive of VAT, which cannot be recovered. Charitable activities include the costs of activities which meet the objectives of the charitable company and any grants payable. Costs are allocated to specific events and activities, where possible. Support costs are costs relating to the overall operation of the charity and it is not considered practicable to apportion these costs between specific events and activities on a reliable and consistent basis. Where gifts in kind or donated services are made to the charitable company, a credit is made to the income of the charitable company at a valuation made by the Board of Trustees. If the charitable company is provided with facilities at no charge or reduced cost, the full market cost is included in expenditure with corresponding recognition of income. Governance costs are those associated with meeting the statutory requirements of running the charitable company. These costs include costs relating to the statutory audit.

    Tangible fixed assets depreciation policy

    Fixed assets are stated at cost or deemed cost (donated valuation at estimated fair value) less accumulated depreciation and impairment losses. Depreciation is calculated to write off the costs of the fixed asset by equal instalments as follows, all straight line: Freehold buildings - 2% per annum straight line Fixtures and fittings - 25 % per annum straight line Plant and machinery - 25 % per annum straight line

    Other accounting policies

    Post balance sheet events There are no material impacts on the Charity or its assets which are required to be highlighted in the post balance sheet events notes. Tax Status As a registered charity the charitable company is not liable to corporation tax as a result of exemptions afforded under the Corporation Taxes Act 2010 (CTA2010). Pension costs The company operates defined contribution schemes for the benefit of its employees. The costs of contributions are charged against income in the year in which they are payable. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Cash and cash equivalents Cash and cash equivalents include cash and short term highly liquid investments with short term maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Unrestricted general funds - these are funds which can be used in accordance with the charitable objectives at the discretion of the Council of Management. Designated funds - these are funds set aside by the Council of Management out of unrestricted general funds for specific purposes or projects. Restricted funds - these are funds which can only be used for particular purposes within the objectives of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Estimates and judgements Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the trustee's best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Trustees do not consider there to be any estimates and judgements. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value. Funds accounting Funds held by the charitable company are: The nature and purpose of each fund is explained further in the notes to the financial statements.

RESTORE HOPE

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 14 15

RESTORE HOPE

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 2,776,971 23,023 5,213 0 2,805,207
Additions 15,927 13,400 1,836 8,395 39,558
Disposals
Revaluations
Transfers
At 30 November 2023 2,792,898 36,423 7,049 8,395 2,844,765
Depreciation
At 1 December 2022 0 0 0 0 0
Charge for year 33,231 12,947 2,020 1,399 49,597
On disposals
Other adjustments
At 30 November 2023 33,231 12,947 2,020 1,399 49,597
Net book value
At 30 November 2023 2,759,667 23,476 5,029 6,996 2,795,168
At 30 November 2022 2,776,971 23,023 5,213 0 2,805,207

RESTORE HOPE

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Debtors

2023 2022
£ £
Prepayments and accrued income 10,411 9,947
Other debtors 6,021 7,251
Total 16,432 17,198

RESTORE HOPE

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 12,274 6,853
Accruals and deferred income 5,538 3,407
Total 17,812 10,260

RESTORE HOPE

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 503,800 503,800
Total 503,800 503,800

RESTORE HOPE

Notes to the Financial Statements

for the Period Ended 30 November 2023

7. Financial Commitments

CAPITAL COMMITMENTS There were no capital commitments at 30 November 2023 (2022: None). FUTURE COMMITMENTS The Charity has no future commitments