REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Hoping Foundation |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Hoping Foundation |
Hoping Foundation |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Statement of Trustees' Responsibilities | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 |
Notes to the Financial Statements | 9 | to | 15 |
Hoping Foundation (Registered number: 05982629) |
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 HOPING Foundation is a charitable company limited by guarantee, incorporated on 6th October 2006 and registered as a charity on 1st October 2007. It succeeded to the assets and activities of the Hoping Foundation, an unincorporated charity registered 23 April 2003. |
The company was established under a memorandum of association, which specifies the objects and powers of the charitable company and it is governed under its articles of association. |
OBJECTIVES AND ACTIVITIES |
Objectives and Activities |
HOPING stands for Hope and Optimism for Palestinians in the Next Generation. The Foundation exists to benefit Palestinian refugee children and their families by means of grants to community projects in refugee camps which are concerned with improving children's lives through education, art, music, social and sporting activities and health. The grant-funded activities offer Palestinian refugee children creative solutions that can help them to transform their lives for the better. The Foundation shows support and encouragement to these children and gives them a belief in the promise of a better future. |
Through awareness raising activities, the Foundation also seeks to advance public awareness about issues relating to Palestinian refugee children and their families. This is achieved through awareness events in the UK, and visits by distinguished delegations to the Middle East, arranged in co-ordination with the United Nations Relief and Works Agency (UNRWA). The HOPING for UNRWA committee helps publicise UNRWA's work with Palestinian refugees, especially youth, through awareness events and collaborative projects. |
The Foundation maintains a small-scale office for administration and project co-ordination, which includes making grants to specific projects that have been identified by the directors and foundation manager. The directors' grant-making policy also supports and develops the direct fund-raising abilities of community groups in the refugee camps so that they may move towards self-sufficiency. Many of those participating in this effort are volunteers. |
The main objectives this year were to continue funding the Foundation's core programmes supporting scholarships, centres supporting Palestinian refugee children, and build awareness in the UK of the challenges and hardships young refugees' face. The directors were keen to continue to outreach to as many disadvantaged Palestinian children and their families as possible. The Foundation's strategy to achieve these objectives was to: |
- Maintain a level of fundraising so as to ensure the funds are available for core grant making. |
- Seek out community projects in the region which offered support for Palestinian refugee children. |
- Continue to raise awareness about these issues, both in the UK, and internationally. |
Public Benefit Statement |
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission. The Foundation's achievements, outlined below, detail how Palestinian refugee children in camps across the Middle East have benefitted from the charity's activities. |
Hoping Foundation (Registered number: 05982629) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
ACHIEVEMENT AND PERFORMANCE |
Over the financial year, the Foundation raised £143,833 from donations and associated gift aid tax, the sale of merchandise, and bank interest. The Foundation did not hold a main fundraising event, but secured income for core grants and new applications by reaching out to key donors and long-term supporters to fund specific programmes. The Foundation awarded £93,222 in grants to organisations helping refugee children in Lebanon, the occupied Palestinian territories, and the UK. Grant making remains lower than in the previous years as the trustees continue to be prudent while awaiting the opportunity to hold a benefit event. |
Over the course of the year, HOPING worked closely with community centres in Palestinian refugee camps continuing to fund activities that give Palestinian refugee children the chance to learn, to play, and to build their lives creatively. |
Education & Training |
In Ein el Hilweh refugee camp in Lebanon, HOPING gave a grant to provide support to Palestinian refugee children taking part in remedial education. Due to high unemployment in Lebanon, children drop out of school to find work to bring in extra income for their families. A community centre in Ein el Hilweh refugee camp organised classes for children preparing to return to school, accompanied by art therapy and counselling sessions. |
In Balata refugee camp, in the occupied West Bank, HOPING sponsored a revision classes programme in Arabic, English, Science and Maths, for young refugees preparing to take their end of school exams. The sessions gave students the opportunity to raise questions and deepen their understanding and perform in exam settings with more confidence and knowledge. The Foundation also funded a 'back to school' bags programme for children starting the school year. The kids get to choose their own school bags and stationery, supporting them to be hopeful and excited for the new academic term. |
Sports, Scouts and Play |
In Tulkarm camp in the occupied West Bank, HOPING funded Eid activities for Palestinian refugee children who have special needs. The programme included a clown show and presenting gifts to the children during an iftar dinner with families. In the summer, HOPING funded activities for young refugees growing up in Ein el Sultan camp near Jericho. The centre took the kids on recreational trips outside of the camp, as well as organising volunteering in the community, scouts training and dabke troupes. |
HOPING continues to sponsor a rugby club for girls and boys in Palestinian refugee camps across Lebanon. Rugby has proved hugely successful in giving children a sense of purpose and in encouraging them to stay engaged with education. |
Emergency Aid |
HOPING provided two grants to the Palestinian Medical Relief Society (PMRS) to support their emergency teams' medical units across Gaza and the occupied West Bank. Their first responders are based both in cities and refugee camps, and are trained to reach areas that ambulances are unable to access, providing critical care on the front line. HOPING's grants covered first aid kit, stretchers, and medication, as well as relief packages for families whose homes have been destroyed. In Tulkarm refugee camp, the Foundation funded two medical rooms. The grant covered supplies and equipment for first aid and home visits. |
Palestinian refugee children have been traumatised by witnessing the violence of military occupation. HOPING funded mental health workshops for children in the occupied West Bank, so that they could develop tools to manage their anxiety and stress. |
Arts |
In Al Fara'a refugee camp in the north of the occupied West Bank, HOPING sponsored a live radio show presented by the children in the camp. The show was hosted by two different kids each week, giving them the opportunity to express their opinions and build their self-confidence. |
In refugee camps in Hebron, the Foundation sponsored puppet-making workshops and drama sessions for children facing the trauma of growing up under continued military occupation. |
Strengthening Youth Associations |
Community associations in the refugee camps require funding towards basic bills and electricity. Every six months, HOPING gives a grant to the main youth centre in Balata refugee camp near Nablus to support its running costs. This contributes towards the centre's rent, cleaning and utility bills, ensuring the centre can continue to hold arts, education and sports activities for hundreds of children in the refugee camp. |
Scholarships |
Thanks to a donation given specifically to cover scholarships for young Palestinian refugees, HOPING was able to provide a larger number of grants for university students this year. This included contributing towards the tuition fees of three Palestinian refugees studying law and medicine at universities in Gaza and the occupied West Bank, and four young Palestinians studying science, arts and humanities at universities in the UK. |
Details of the grants made can be found in note 2, and at the charity's website: www.hopingfoundation.org. Through such grants, supporting local educational and social projects for Palestinian children and their families, the Foundation hopes to have made a considerable contribution to the lives of severely disadvantaged refugees this year. |
Hoping Foundation (Registered number: 05982629) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
FINANCIAL REVIEW |
The directors aim to hold reserves sufficient to enable the Foundation to settle its affairs at any time, in a controlled way, but otherwise to disperse income by way of grants. At the balance sheet date the restricted and unrestricted general fund amounted to £163,094. The directors are happy with this reserve, and will continue to seek new and long-term donor engagement, as well as planning for future fundraising and awareness events, to maintain restricted and unrestricted reserves. |
Financial risk management |
The directors confirm that a review of financial risks affecting the charity has been carried out. They consider these to be negligible since expenditure is only undertaken when funds are available. A system of forward planning and prudent management is a sufficient safeguard. |
Safeguarding policy |
The directors confirm that there is a safeguarding policy for the Foundation and guidance for organisations who receive a grant. The Foundation seeks to ensure, through proportionate and reasonable due diligence, that grantees take their responsibility seriously and have safeguards in place to protect children from abuse of all kinds. |
FUTURE PLANS |
The Foundation aims to continue its fundraising efforts, and to use its reserves to carry out grant making and fulfil its charitable aims. The Foundation's key objective is to reach as many disadvantaged Palestinian children and their families as possible in the region, and the directors would like to continue expanding the area of benefit of the Foundation's grants. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Reference and administrative information set out on page 1 forms part of this report. |
Governing document |
The HOPING Foundation is a company limited by guarantee governed by its memorandum and articles of association dated 6th October 2006. It was registered as a charity on 1st October 2007. On 1st January 2008 the company took over the activities and assets of the Hoping Foundation, an unincorporated charity registered under number 1097182. |
Appointment of directors |
New directors are recruited and appointed by the existing directors by written resolution. They are inducted formally by the existing directors. |
Organisation |
Strategic decisions are made by the directors in trustee meetings and policy is carried out by the Foundation Manager. |
Related Parties |
The Foundation maintains links with many organisations with similar aims, particularly in areas where Palestinian refugees live. It has a formal alliance with the United Nations Relief and Works Agency (UNRWA) as set out in the Hoping for UNRWA heads of terms signed on 25th November 2007. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Hoping Foundation (Registered number: 05982629) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
I R Futcher FCA |
Blackwood Futcher & Co. |
Chartered Accountants |
9 St George's Yard |
Farnham |
Surrey |
GU9 7LW |
Solicitors |
Russell-Cooke LLP |
2 Putney Hill |
London |
SW15 6AB |
Bankers |
Coutts & Co |
440 Strand |
London |
WC2R 0QS |
Approved by order of the board of trustees on |
Hoping Foundation |
Statement of Trustees' Responsibilities |
for the Year Ended 31 December 2023 |
The trustees (who are also the directors of Hoping Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Independent Examiner's Report to the Trustees of |
Hoping Foundation |
Independent examiner's report to the trustees of Hoping Foundation ('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 |
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. |
I R Futcher FCA |
Blackwood Futcher & Co. |
Chartered Accountants |
9 St George's Yard |
Farnham |
Surrey |
GU9 7LW |
24 September 2024 |
Hoping Foundation |
Statement of Financial Activities |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Raising funds | 3 |
Charitable activities | 4 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 172,222 |
Hoping Foundation (Registered number: 05982629) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Stocks | 12 |
Debtors | 13 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 14 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 153,922 |
Restricted funds | 18,300 |
TOTAL FUNDS | 172,222 |
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. |
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 |
Hoping Foundation |
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. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
There is a general fund for the designated purpose of the charity. This is to improve the lives and prospects of children in Palestinian refugee camps by making grants to community groups in the camps and helping such groups to achieve self sufficiency. |
A restricted fund is set up if grants or donations are received for specific purposes. |
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. |
2. | OTHER TRADING ACTIVITIES |
31.12.23 | 31.12.22 |
£ | £ |
Fundraising events |
Sale of merchandise |
Bank and gift aid interest | 2,028 | 329 |
Hoping Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | RAISING FUNDS |
Raising donations and legacies |
31.12.23 | 31.12.22 |
£ | £ |
Support costs |
4. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities |
Direct | (see note |
Costs | 5) | Totals |
£ | £ | £ |
Charitable activities | 3,001 | 93,222 | 96,223 |
5. | GRANTS PAYABLE |
Grants were made during the year as follows: |
2023 | 2022 |
£ | £ |
Palestine Medical relief Society, occupied Palestinian territories | 11,217 | 8,239 |
Emergency aid |
Yafa Cultural Centre, West Bank | 5,597 | 5,652 |
Support costs |
Yafa Cultural Centre, West Bank | 8,312 | 8,187 |
Back to School bags |
Return Centre for Rehabilitation, West Bank | 1,611 | 2,473 |
Eid activities |
Rabie El Masri, Lebanon | 8,094 | 8,859 |
Rugby club |
Scholarship programme for Palestinian university students in the West Bank | 10,432 | 8,493 |
and Gaza |
Scholarship programme for Palestinian refugee university students in the UK | 16,500 | 7,880 |
Yafa Cultural centre, West Bank | 2,922 | 3,280 |
Revision classes |
Cultural and Social Nashet Association, Lebanon | 4,493 | 5,554 |
Psycho-social support programmes |
Yafa Cultural centre, West Bank | 5,585 | 5,851 |
Support costs |
Yes Theatre, West Bank | 4,250 | - |
Puppet and theatre workshops |
Sports Club Association, West Bank | 4,244 | - |
Kids' radio show |
Future Youth, West Bank | 2,813 | - |
Psycho-social support programmes |
The Return Centre for Rehabilitation, West Bank | 3,216 | - |
Emergency medical rooms |
Ambassadors of Happiness Society, West Bank | 3,936 | - |
Summer activities |
Hoping Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | GRANTS PAYABLE - continued |
Al-Faraa Youth Centre, West Bank | - | 2,416 |
Media training |
Zubeidat Sport Club, Jordan Valley | - | 4,165 |
Sports and scouts club |
Balata Rehabilitation Centre, West Bank | - | 1,228 |
Refurbishing the centre |
Palestine Cultural club | - | 18,977 |
Setting up a new centre |
Dar Al Fonon, West Bank | - | 1,251 |
Dance uniforms and instruments |
Askar Popular Committee, West Bank | - | 2,169 |
Camp survey |
Nafs centre for empowerment, West Bank | - | 4,156 |
Psychological workshops |
Yafa Cultural Centre, West Bank | - | 12,872 |
Media unit grant |
Total | 93,222 | 111,702 |
6. | SUPPORT COSTS |
Management |
£ |
Raising donations and legacies | 49,369 |
Support costs, included in the above, are as follows: |
31.12.23 | 31.12.22 |
Raising |
donations |
and | Total |
legacies | activities |
£ | £ |
Wages | 41,000 | 40,000 |
Social security | - | 70 |
Pensions | 1,043 | 1,013 |
Internet and computer cost | 183 | 170 |
Insurance | 614 | 549 |
Bookkeeping | 1,575 | 1,953 |
Telephone | 71 | 71 |
Postage and stationery | 1,067 | 814 |
Consultancy | - | 372 |
Independent examination costs | 1,896 | 1,680 |
Statutory and professional | 53 | 13 |
Translation services | 1,455 | 1,100 |
Depreciation of tangible and heritage assets | 412 | 412 |
49,369 | 48,217 |
Hoping Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
During the year none of the Trustees received any reimbursed expenses (2023 - £nil). |
9. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.12.23 | 31.12.22 |
Co-ordination and administration |
During the year the Foundation paid for the services of a full-time project co-ordinator and administrator role. |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 167,881 | - |
TOTAL FUNDS CARRIED FORWARD | 153,922 | 18,300 | 172,222 |
Hoping Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
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 |
12. | STOCKS |
31.12.23 | 31.12.22 |
£ | £ |
Stocks |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other debtors |
Prepayments and accrued income |
Accrued income represents fundraising income and gift aid tax received after the end of the year. |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accrued expenses |
15. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
£ | £ | £ | £ |
Fixed assets | 182 | - | 182 | 594 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
153,534 | 9,560 | 163,094 | 172,222 |
The trustees aim to hold reserves sufficient to enable it to settle its affairs at any time in a controlled way, but otherwise to disperse donations by way of grants. |
Hoping Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
16. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 153,922 | (388 | ) | 153,534 |
Restricted funds |
Restricted | 18,300 | (8,740 | ) | 9,560 |
TOTAL FUNDS | (9,128 | ) | 163,094 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 135,358 | (135,746 | ) | (388 | ) |
Restricted funds |
Restricted | 8,475 | (17,215 | ) | (8,740 | ) |
TOTAL FUNDS | ( |
) | (9,128 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 167,881 | (13,959 | ) | 153,922 |
Restricted funds |
Restricted | - | 18,300 | 18,300 |
TOTAL FUNDS | 167,881 | 4,341 | 172,222 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 149,813 | (163,772 | ) | (13,959 | ) |
Restricted funds |
Restricted | 25,000 | (6,700 | ) | 18,300 |
TOTAL FUNDS | 174,813 | (170,472 | ) | 4,341 |
Hoping Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
16. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 167,881 | (14,347 | ) | 153,534 |
Restricted funds |
Restricted | - | 9,560 | 9,560 |
TOTAL FUNDS | 167,881 | (4,787 | ) | 163,094 |
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 | 285,171 | (299,518 | ) | (14,347 | ) |
Restricted funds |
Restricted | 33,475 | (23,915 | ) | 9,560 |
TOTAL FUNDS | 318,646 | (323,433 | ) | (4,787 | ) |
The trustees aim to hold reserves sufficient to enable it to settle its affairs at any time in a controlled way, but otherwise to disperse donations by way of grants. |
17. | RELATED PARTY DISCLOSURES |