REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HOPE CHURCH, NOTTINGHAM |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HOPE CHURCH, NOTTINGHAM |
HOPE CHURCH, NOTTINGHAM |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 6 |
Independent Examiner's Report | 7 |
Statement of Financial Activities | 8 |
Statement of Financial Position | 9 | to | 10 |
Notes to the Financial Statements | 11 | to | 17 |
HOPE CHURCH, NOTTINGHAM |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | David Rice Associates Ltd |
Chartered Certified Accountants |
4 Wellington Circus |
Nottingham |
Nottinghamshire |
NG1 5AL |
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 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 December 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). |
The company is a private company limited by guarantee and has no share capital. It has claimed exemption from using the word "Limited". |
Hope Church, Nottingham continues to define its purpose through mission, community, worship and discipleship and is pleased to have in place a youth and children's programme, small group structure, prayer, worship, teaching, ladies events, alongside social and outreach events that work towards that goal. We continue to work with other churches both within the community and across the city of Nottingham, and to be represented and respected by many of the voluntary and statutory organisations within the community. |
OBJECTIVES AND ACTIVITIES |
How our activities deliver public benefit |
Our main activities and who we try to help are described below. All our charitable activities focus on helping to support individuals within the community of Clifton, Nottingham and beyond with a wide range of projects that promote personal, social and spiritual wellbeing leading to increased self-esteem. We take a holistic approach to our work and our activities support the development of physical, social and spiritual wellbeing and are undertaken to further our charitable purposes for the public benefit. |
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
2023 has been a stable year for our charity as we work hard to fulfil our objectives. We have been encouraged to see our congregation grow over the course of the year to about 130 adults and 40 children with average Sunday congregation of about 100. |
The heart of our vision is: Transforming Lives and Communities Through the Message of Christ, and we remain active throughout the week within our community and operate out of our central base - The Hope Centre. |
This report for 2023 details the significant changes and activities throughout over the course of the year. |
Sunday Services |
Sunday services during 2023 have seen increase, with continued growth especially in regard to our children and youth with increasing numbers attending over the course of the year. In addition, the diversity of the congregation continues with our special International Service representing again over 20 nationalities! |
Café |
The Community Café continues to operate at the heart of the Centre as a hub and community space as well as a warm space during the winter. In partnership with the Foodbank we also operate a food voucher system for Foodbank clients whereby people can access a hot meal and drink. |
In addition, the Café hosts many local groups including the Chess Club and is a catch point for the local team if social prescribers. In addition we are a venue offering many volunteer opportunities when individuals can learn new skills and grow in confidence before looking for other employment opportunities as their skills and confidence grows. |
Room Hire |
Although we no longer offer hire on Saturdays for birthday parties due to the building being closed, we have seen a steady stream of new bookings from a healthcare, local business and community organisations We are limited on hire periods during the week due to regular activities within the centre but room hire continues to be part of our strategy and we can where required offer catering as part of the booking package. |
Small Groups and Gatherings |
We have a number of small groups and gatherings operating which offer various levels of support in terms of friendship and Christian growth and development. Currently this includes: Prayer meeting, Men's Breakfast, Ladies Breakfast, Women of Hope, Chess Clubs and Life Group. |
Youth and Children's Work Overview |
Andrew Wallace writes: |
At the end of the 2022 report I wrote the following: |
Aims looking towards 2023 were to consider a better space option for youth on Sundays as it continues to grow. Also looking for ways to manage growth in Excite and Bubbles. There was also a need to bring our safeguarding practice up to date and ensure all volunteers were appropriately trained. |
In November 2023 we secured a grant of £2300 towards the purchase of a portable cabin with the thought that this would be a new space for our youth work. We are currently still in possession of this funding however plans have been on hold as we have considered our financial position during 2023 and the youth numbers have also stabilised for the time being. The upstairs space continues to be functional if not perfect for our gatherings on Sundays and we continue to see good attendance across the age groups. We have welcomed a number of new families into the church and have also had new team members join the children and youth ministry. We have also introduced family services where the young people have the opportunity to take on serving roles, worship team, refreshments, etc. |
In April 2023 we launched a second Excite after school club, meeting on Tuesday as well as Wednesday. This was to allow us to manage the numbers of children better and allow more to attend. This was possible through the support of an additional volunteer from our church and continuing to involve students from the university. On our safeguarding ratios the two groups can accommodate 24 children each and at the end of 2023 one had 20 sign ups and the other 18. The children have a great time at Excite and parents are very appreciative of the fact that we continue to provide the club free of charge. |
The Bubbles toddler group numbers are stable with an average of 30 children with parents/carers in attendance each week. We introduced an on the door registration system which has capped the maximum number of children at 50. We came to this figure by measuring the floor space and working out how many children can be safely accommodated in the room. Thankfully we have only had to turn people away due to space on 2 occasions. Parents speak very highly of the group, the way it is run, the welcome they receive, the food for the children. It is definitely a blessing to our community. |
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Hope Youth Club has continued throughout the year with numbers fluctuating week to week between 2 and 12! The youth appreciate the space and we have had good discussion by engaging with the youth alpha course as well as lots of fun and opportunity to build friendships. I anticipate youth will continue to grow as children come through from the younger group activities. |
In July 2023 we delivered safeguarding training to all our youth and children's team volunteers. We also reviewed our safeguarding practice and documents and ensured all policies and procedures were up to date and accessible. |
In summer of 2023 we took a group of 12 young people to the Dreaming The Impossible youth festival. This was a fantastic experience and all of them said they had grown deeper in their faith and understood more of who God is. It gave young people the opportunity to spend lots of time together and new friendships were formed which continued on their return. After the event we immediately pre-booked tickets with the intention to attend again in 2024. |
Overall this has been another wonderful year of growth and busyness with plenty going on for children and young people within our church and community. For 2024 I anticipate a year of deepening. I feel we are at capacity in terms of the number of regular activities we can run and 2024 will be about making these as good as they possibly can be. |
Overseas Mission Support |
We work closely with several mission charities and AoG Missionaries an offer small amounts of support to them each month. This includes two child sponsorship programs in Ghana and Colombia. |
NG11 Foodbank |
The past year has been a busy one for our Foodbank with over 900 referrals serving 13,000 adults and over 900 children with over 2000 separate parcels being distributed. |
Nottingham Citizens Advice continued its partnership with us which has resulted in significant gains for the people we have been able to support. |
A Case Study |
A recent case study of one person helped included a driver who suffered a heart attack and was told could no longer drive. He had other serious health problems and had no idea what to do. Through the Foodbank we were able to refer this person to the NCA here at the Hope Centre. With no idea how this person was going to afford to live and pay the rent and council tax, advice was given on what support is available. The following day we were able to supply this person with a £100 supermarket voucher. At the same time, we applied to the local authority for energy vouchers. We advised the client how to apply for Universal Credit and Council Tax support, which they were then able to progress themselves. This person was awarded Universal Credit to pay for all the rent and £368.74 per month to live on, and council tax was reduced to £8 per month. Assistance was given to apply for a Personal Independence Payment and this person was awarded £172.75 per week as extra support for dealing with the effects of his conditions and a back payment of £1,924.93. |
As a Foodbank we continue to work on our strategic approach as outlines under our 8 objectives which are: |
i) To provide emergency food to those in crisis |
ii) To directly help people find long term solutions to their issues |
iii) To signpost effectively to other services |
iv) To build connections and partnerships between local services |
v) To raise awareness about poverty in the local area |
vi) To campaign to end poverty in the local area |
vii) To help the local community and engage with those experiencing poverty |
viii) To influence what happens nationally by providing local information fund raising to ensure our activities and services were robust and sustainable. |
Fundraising activities |
Hope Enterprises (Nottingham) Limited is the trading subsidiary company of Hope Church Nottingham and continued to operate its four shops in Clifton, Sherwood, Meadows and Crown Island. 2023 was a good year for the business. In his role as Senior Area Manager, Dave Horner has developed the business and staff team bringing his experience in retail into Hope Enterprises. Our aim for the shops is to create optimum success for the benefit of the charity and its objectives; to provide good quality pre loved goods to our customers and create environments of hope and welcome in the communities where our shops operate. |
The charity also operates a separate trading subsidiary in order to run the Hope Café as referred to earlier in the report called Hope Café Nottingham Limited. Separate accounts are submitted for Hope Enterprises (Nottingham) Limited and Hope Café Nottingham Limited to Companies House annually. |
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FINANCIAL REVIEW |
Principal funding sources |
The Charity has four principal sources of income: |
1. Voluntary contributions of its members |
2. Grants |
3. Gift Aid from Hope Enterprises Nottingham Limited |
4. Gift Aid returns |
Reserves policy |
The Trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be three months of expenditure. The reserves are needed to meet the working capital requirements of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Organisational structure and staffing |
The Church Council has continued to meet regularly throughout the year to monitor finance and expenditure, to oversee procedures and policies and to ensure that the charity maintains good housekeeping and adheres to its responsibilities under charitable law. |
Stephen Hackney continued in a full-time role as Minister of the church, and continued with the leadership, pastoral and ministry responsibilities, supported by the wider Church leadership. |
Wider network |
The church has key strategic partnerships with the NG11 Foodbank, offering services to the local community and people in need. NG11 Foodbank is a franchise of the Trussell Trust. |
Wider Ministry |
Stephen continues to take an active role in the city-wide ministry through the NG Network and also attends regular meetings with other city leaders for Prayer, Training and Fellowship days. |
We continue to develop relationships with other denominational churches and ministers within the locality and Stephen attends a monthly meeting with Ministers from other churches in the local community. |
Connected Charities |
Assemblies of God |
The Assemblies of God in Great Britain and Ireland is the largest Pentecostal Denomination and serves a membership of some 500 churches nationwide and Hope Church Nottingham has been in affiliation with the Denomination since the late 1950's. Each member church is required to donate 1 ¼ % of their annual income to support the administration and promotion of the Christian faith, nationally and world wide. |
NG Church Network |
The church Minister, Stephen Hackney continues to hold an active role in the wider NG Church Network and often attends leadership training events with them. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
The church has specific policies in respect of the following matters: |
Children Protection and Vulnerable Adults Policy |
Health and Safety Policy |
Grievance Policy |
Equal Opportunities Policy |
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
HOPE CHURCH, NOTTINGHAM |
Independent examiner's report to the trustees of Hope Church, Nottingham ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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 |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. |
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. |
David Rice FCCA |
David Rice Associates Ltd |
Chartered Certified Accountants |
4 Wellington Circus |
Nottingham |
Nottinghamshire |
NG1 5AL |
20 September 2024 |
HOPE CHURCH, NOTTINGHAM |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 14 | 90,303 | (90,303 | ) | - | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 281,509 |
HOPE CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | 13 | ( |
) | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds: |
General fund | 115,997 | 25,915 |
Restricted funds: |
Building fund | - | 82,353 |
Foodbank project | 167,576 | 157,088 |
Young Hope | - | 16,153 |
255,594 |
TOTAL FUNDS | 281,509 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 CHURCH, NOTTINGHAM (REGISTERED NUMBER: 07968840) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 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 CHURCH, NOTTINGHAM |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 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, with the exception of investments which are included at market value. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); |
• | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A; |
• | the requirement of paragraph 33.7. |
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. |
Freehold property | - |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
HOPE CHURCH, NOTTINGHAM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
Hire of plant and machinery | - | 80 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
2023 | 2022 |
£ | £ |
Trustees' salaries |
Trustees' social security |
Trustees' pension contributions to money purchase schemes |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Ministers | 1 | 1 |
Support staff | 3 | 3 |
No employees of the charity earned in excess of £60,000 (2022: £60,000). |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
HOPE CHURCH, NOTTINGHAM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
56,870 | 34,162 |
Total |
NET INCOME |
Transfers between funds | (22,162 | ) | 22,162 | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 44,522 | 181,905 |
TOTAL FUNDS CARRIED FORWARD | 25,915 | 255,594 | 281,509 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
8. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
MARKET VALUE |
At 1 January 2023 and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 | 2 |
At 31 December 2022 | 2 |
There were no investment assets outside the UK. |
The company's investments at the balance sheet date in the share capital of companies include the following: |
HOPE CHURCH, NOTTINGHAM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | FIXED ASSET INVESTMENTS - continued |
Registered office: 2 Southchurch Drive, Clifton, Nottingham, NG11 8AR |
Nature of business: Operation of charity shops |
% |
Class of share: | holding |
Registered office: 2 Southchurch Drive, Clifton, Nottingham, NG11 8AR |
Nature of business: Operation of a café |
% |
Class of share: | holding |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Amounts owed to group undertakings |
Social security and other taxes |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 11) |
11. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Bank loans more 5 yr by instal | 156,672 | 157,046 |
HOPE CHURCH, NOTTINGHAM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured by way of a fixed legal charge dated 28 March 2014 in favour of Kingdom Bank Limited, over the freehold property owned by the company, and by a floating charge over the general assets and undertaking of the company. |
A further charge dated 28 April 2015 in favour of Big Lottery Fund has been created to secure the grant monies received from them to assist the company in its project of acquiring and refurbishing the Hope Centre. Should the company breach any of the terms relating to the award of the grant then Big Lottery Fund has the right to request repayment of the grant monies, and should that prove to be not possible then they are able to acquire the freehold of the Hope Centre from the company. |
13. | ACCRUALS AND DEFERRED INCOME |
2023 | 2022 |
£ | £ |
Deferred funding grants | 618,475 | 633,096 |
The charity has received an amount in total of £731,053 of grant funding (of which 89% was from The Big Lottery Fund) towards the cost of the acquisition, refurbishment and subsequent extension of the Hope Centre. |
These amounts have been treated as deferred income, and as the centre is now in use, then of this amount, £14,621 (2022: £14,621) has been amortised and credited to reserves in the year. Cumulative amortisation of the grants received amounts to £112,578 to the end of this accounting period (2022: £97,957).. |
14. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/1/23 | in funds | funds | 31/12/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 25,915 | (221 | ) | 90,303 | 115,997 |
Restricted funds |
Building fund | 82,353 | - | (82,353 | ) | - |
Foodbank project | 157,088 | 2,285 | 8,203 | 167,576 |
Young Hope | 16,153 | - | (16,153 | ) | - |
2,285 | ( |
) |
TOTAL FUNDS | 2,064 | 283,573 |
HOPE CHURCH, NOTTINGHAM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
14. | 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 | 180,665 | (180,886 | ) | (221 | ) |
Restricted funds |
Foodbank project | 150,392 | (148,107 | ) | 2,285 |
TOTAL FUNDS | ( |
) | 2,064 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1/1/22 | in funds | funds | 31/12/22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 44,522 | 3,555 | (22,162 | ) | 25,915 |
Restricted funds |
Building fund | 85,618 | (21,103 | ) | 17,838 | 82,353 |
Foodbank project | 81,181 | 72,630 | 3,277 | 157,088 |
Young Hope | 15,106 | - | 1,047 | 16,153 |
181,905 | 51,527 | 22,162 | 255,594 |
TOTAL FUNDS | 226,427 | 55,082 | - | 281,509 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 149,375 | (145,820 | ) | 3,555 |
Restricted funds |
Building fund | 13,931 | (35,034 | ) | (21,103 | ) |
Foodbank project | 109,649 | (37,019 | ) | 72,630 |
123,580 | (72,053 | ) | 51,527 |
TOTAL FUNDS | 272,955 | (217,873 | ) | 55,082 |
HOPE CHURCH, NOTTINGHAM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
14. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1/1/22 | in funds | funds | 31/12/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 44,522 | 3,334 | 68,141 | 115,997 |
Restricted funds |
Building fund | 85,618 | (21,103 | ) | (64,515 | ) | - |
Foodbank project | 81,181 | 74,915 | 11,480 | 167,576 |
Young Hope | 15,106 | - | (15,106 | ) | - |
181,905 | 53,812 | (68,141 | ) | 167,576 |
TOTAL FUNDS | 226,427 | 57,146 | - | 283,573 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 330,040 | (326,706 | ) | 3,334 |
Restricted funds |
Building fund | 13,931 | (35,034 | ) | (21,103 | ) |
Foodbank project | 260,041 | (185,126 | ) | 74,915 |
273,972 | (220,160 | ) | 53,812 |
TOTAL FUNDS | 604,012 | (546,866 | ) | 57,146 |
15. | RELATED PARTY DISCLOSURES |
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
There were no other related party transactions for the year ended 31 December 2023. |
16. | SHARE CAPITAL |
The company is a private company limited by guarantee and does not have a share capital. Each member has a liability to the company under the guarantee in the event of it being wound up. The maximum amount guaranteed by each member is £1. |