|
WE SEE |
|
HOPE |
REFERENCE AND ADMINISTRATIVE INFORMATION |
P. 1 |
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TRUSTEES’ ANNUAL REPORT |
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- WHO WE ARE |
P.2 |
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- PROGRAMMES & PARTNERSHIPS |
P. 3 |
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- STRATEGY FOR GROWTH |
P.4 |
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- WHAT WE HAVE ACHIEVED IN 2023/24 |
P. 5 |
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- HOW WE RAISE MONEY |
P. 10 |
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- REVIEW OF 2023/24 FINANCIAL POSITION AND FUNDRAISING ACTIVITIES |
P. 11 |
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- STRUCTURE, GOVERNANCE & MANAGEMENT |
P. 12 |
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INDEPENDENT AUDITORS’ REPORT |
P. 16 |
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STATEMENT OF FINANCIAL ACTIVITIES |
P. 20 |
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STATEMENT OF FINANCIAL POSITION |
P. 21 |
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STATEMENT OF CASH FLOWS |
P. 22 |
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NOTES TO THE FINANCIAL STATEMENTS |
P. 23 |
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WE SEE |
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HOPE |
CHARITY NUMBER: |
1079385 |
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COMPANY NUMBER: |
03926278 |
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TRUSTEES: |
Mr |
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Mr |
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Ms |
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Mr |
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Mrs |
|
Mr |
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Mr |
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Mrs |
COMPANY SECRETARY: |
Mrs |
REGISTERED OFFICE: |
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CORRESPONDENCE |
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ADDRESS: |
PO Box 397 |
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Tadworth |
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KT20 9GB |
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AUDITORS: |
Hawsons Chartered Accountants |
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Jubilee House |
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32 Duncan Close |
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Moulton Park |
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Northampton |
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NN3 6WL |
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BANKERS: |
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1 Balloon Street |
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Manchester |
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M60 4EP |
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SOLICITORS: |
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10 Upper Bank Street |
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London |
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E14 5JJ |
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WE SEE |
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HOPE |
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WE SEE |
|
HOPE |
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WE SEE |
|
HOPE |
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WE SEE |
|
HOPE |
|
WE SEE |
|
HOPE |
|
WE SEE |
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HOPE |
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WE SEE |
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HOPE |
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WE SEE |
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HOPE |
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WE SEE |
|
HOPE |
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WE SEE |
|
HOPE |
Location |
2023/24 (local currencies) |
2023/24 (GBP conversion) |
2022/23 (local currencies) |
2022/23 (GBP conversion) |
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UK |
GBP 925,555 |
£925,555 |
GBP 1,390,315 |
£1,390,315 |
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Germany |
EUR 1,173 (unaudited) |
£994 |
EUR 3,183 (unaudited) |
£2,731 |
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USA |
USD 120,232 (unaudited) |
£95,105 |
USD 102,959 (unaudited) |
£80,981 |
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Total combined GBP income |
- |
£1,021,654 |
- |
£1,474,027 |
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WE SEE |
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HOPE |
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WE SEE |
|
HOPE |
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WE SEE |
|
HOPE |
Potential Risk |
Management of risk |
Loss of key staff |
Country managers knowledge and responsibilities shared Programme knowledge and data shared and documented in UK and Africa Fundraising and key relationship responsibilities shared Systems and strategies documented |
Fundraising |
Clear fundraising strategy and income goals developed Ambassador Programme strengthened Dedicated channel-focused fundraising staff approach taken Income pipeline diversified and supporter base increased Capacity and supporter engagement experience added to team |
Dependency on major income donors |
Major dependencies identified with sensitivity analysis Adequate reserves policy implemented Diversification and broader supporter base included in fundraising strategy |
Foreign currency |
Consider forward contracts for payments to in-country partners and consultant expenses |
International fundraising offices |
Licencing and Service Level Agreement (SLA) contracts Formal legal registration process followed Formal reporting in place to ensure that fundraising objectives are in line with the UK |
Reputational risk in UK |
Cloud-based file storage system, CRM database and accounting package with individual password protected access in place External support in place for IT issues, upgrades and cybersecurity Regular backups of data on all platforms scheduled to mitigate data loss Regular briefings to team on fraud awareness occurring |
Reputational risk in Africa |
Live financial audits carried out Clear guidelines, documentation and receipts process in place Separate dedicated bank accounts required for WeSeeHope funds Training and technical advice provided for in-country partners |
Safeguarding |
Safeguarding, child protection and whistleblowing policies reviewed and in place Culture of recognising risk encouraged Safeguarding addressed during monitoring visits |
Travel and health |
Risk assessments, detailed planning and briefing for all trips Foreign Office and in-country partner guidance followed Waiver form in place for all travellers Travel, health and life insurance in place for employees Adherence to vaccination protocols required |
|
WE SEE |
|
HOPE |
|
WE SEE |
|
HOPE |
|
WE SEE |
|
HOPE |
|
WE SEE |
|
HOPE |
|
WE SEE |
|
HOPE |
|
WE SEE |
|
HOPE |
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Note |
Unrestricted Funds £ |
Restricted Funds £ |
Total Funds 2024 £ |
Total Funds 2023 £ |
Income |
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Donations and legacies |
3 |
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|
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Investment income |
4 |
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|
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Total income |
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Expenditure |
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Costs of raising funds |
6 |
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Expenditure on charitable activities |
7 |
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Total expenditure |
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Loss on investment assets |
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( |
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( |
( |
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Net (expenditure)/income for the year |
|
( |
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( |
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Reconciliation of funds |
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Total funds brought forward |
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Total funds carried forward |
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WE SEE |
|
HOPE |
|
Note |
2024 £ |
2023 £ |
Fixed assets |
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Tangible assets |
10 |
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Investments |
11 |
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Current assets |
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Debtors |
12 |
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Cash at bank and in hand |
19 |
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Liabilities |
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Creditors: Amounts falling due within one year |
13 |
( |
( |
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Net current assets |
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Net assets |
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The funds of the charity |
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Restricted income funds |
14 |
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Unrestricted income funds |
14 |
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Total charity funds |
15 |
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WE SEE |
|
HOPE |
|
Note |
2024 £ |
2023 £ |
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Net cash used in operating activities |
16 |
( |
( |
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Cash flow from investing activities |
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|
|
Purchase of tangible assets |
10 |
( |
( |
Purchase of fixed asset investments |
11 |
( |
( |
Proceeds from disposal of fixed asset investments |
11 |
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|
Net cash movement in investments |
11 |
|
|
Dividends received |
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|
|
Investment management fees paid |
6 |
( |
( |
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Net cash provided by investing activities |
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|
Net (decrease)/increase in cash and cash equivalents |
|
( |
|
Cash and cash equivalents at the beginning of the year |
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Cash and cash equivalents at the end of the year |
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Cash and cash equivalents consists of: |
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Cash at bank and in hand |
19 |
|
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|
WE SEE |
|
HOPE |
|
WE SEE |
|
HOPE |
Computer equipment |
over |
Office equipment |
over |
|
WE SEE |
|
HOPE |
|
2024 £ |
2023 £ |
|
|
|
Gross incoming resources |
|
|
Charitable activities |
( |
( |
Cost of raising funds |
( |
( |
Losses on investment assets |
( |
( |
Net outgoing resources |
( |
|
Total funds brought forward |
|
|
Total funds carried forward |
|
|
|
|
|
Represented by: |
|
|
Restricted income funds |
|
|
Unrestricted income funds |
|
|
|
|
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|
WE SEE |
|
HOPE |
|
2024 £ |
(As restated) 2023 £ |
Unrestricted |
|
|
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|
|
Individuals |
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|
Corporate donors |
|
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Community groups |
|
|
Trusts and Foundations |
|
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Gifts in kind |
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Restricted |
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Individuals |
|
|
Corporate donors |
|
|
Trusts and Foundations |
|
|
|
|
|
|
2024 |
2023 |
|
£ |
£ |
|
|
|
Listed and unlisted investments |
|
|
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Allocated to |
|
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| |
|
Charitable activities |
Costs of raising funds |
Governance |
Total 2024 |
Total 2023 |
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|
£ |
£ |
£ |
£ |
£ |
Governance |
|
|
|
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|
Audit |
4,466 |
5,614 |
- |
10,080 |
9,599 |
Legal and professional fees |
1,322 |
1,661 |
- |
2,983 |
253 |
Support costs (Note 5) |
2,296 |
2,885 |
- |
5,181 |
3,890 |
Travel and subsistence |
412 |
519 |
- |
931 |
128 |
Trustees' meeting expenses |
14 |
18 |
- |
32 |
32 |
Wages and national insurance |
17,172 |
21,588 |
- |
38,760 |
34,810 |
|
25,682 |
32,285 |
- |
|
|
Support costs |
|
|
|
|
|
|
472 |
593 |
67 |
|
|
|
1,061 |
1,334 |
152 |
|
|
|
1,751 |
2,201 |
250 |
|
|
|
(1) |
(1) |
- |
( |
|
|
32,681 |
34,307 |
3,899 |
|
|
|
4,502 |
5,660 |
643 |
|
|
|
1,193 |
1,499 |
170 |
|
|
|
41,659 |
45,593 |
5,181 |
|
|
|
WE SEE |
|
HOPE |
|
Unrestricted Funds £ |
Restricted Funds £ |
Total Funds 2024 £ |
Total Funds 2023 £ |
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Bank charges |
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|
WE SEE |
|
HOPE |
|
Unrestricted Funds |
Restricted Funds |
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|
Funds |
Funds |
Total Funds |
Total Funds |
|
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|
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
|
|
|
|
ACET, Uganda |
71,897 |
7,750 |
79,647 |
52,983 |
ACET VIP. Uganda |
14,873 |
5,617 |
20,490 |
14,317 |
ANPPCAN, Kenya |
38,207 |
1,516 |
39,723 |
5,603 |
ANPPCAN VIP, Kenya |
18,414 |
- |
18,414 |
2,938 |
CDN Nakuru, Kenya |
15,199 |
5,000 |
20,199 |
24,836 |
CDN Nakuru VIP, Kenya |
2,276 |
- |
2,276 |
- |
Cheka Sana, Tanzania |
9,891 |
- |
9,891 |
29,101 |
Cheka Sana VIP, Tanzania |
|
3,157 |
3,157 |
12,002 |
Child Headed Households Programme |
29,277 |
- |
29,277 |
33,742 |
Fanisi, Tanzania |
13,217 |
- |
13,217 |
15,238 |
Fanisi VIP, Tanzania |
1,617 |
- |
1,617 |
1,917 |
Infrastructure |
42,005 |
- |
42,005 |
7,724 |
Knowledge exchange |
3,898 |
- |
3,898 |
- |
MPC Blantyre, Malawi |
17,860 |
7,757 |
25,617 |
31,261 |
MPC Blantyre VIP, Malawi |
6,034 |
- |
6,034 |
8,506 |
MPC Nkhoma, Malawi |
8,347 |
- |
8,347 |
5,240 |
MPC Nkhoma VIP, Malawi |
4,780 |
- |
4,780 |
2,199 |
Oasis Mbale, Uganda |
16,906 |
17 |
16,923 |
14,389 |
Oasis Pader, Uganda |
519 |
15,000 |
15,519 |
19,137 |
Oasis Capacity Building, Uganda |
15,260 |
- |
15,260 |
12,094 |
Oasis Mbale VIP, Uganda |
9,647 |
|
9,647 |
8,027 |
Oasis Pader VIP, Uganda |
3,398 |
6,487 |
9,885 |
7,749 |
RIDE. Uganda |
48,736 |
* |
48,736 |
51,890 |
RIDE VIP, Uganda |
13,752 |
- |
13,752 |
15,303 |
Salvation Army, Uganda |
21,194 |
- |
21,194 |
24,171 |
Salvation Army VIP, Uganda |
9,590 |
- |
9,590 |
10,127 |
Simukai, Zimbabwe |
- |
- |
- |
37,912 |
Simukai VIP, Zimbabwe |
- |
- |
- |
17,177 |
Undugu, Kenya |
44,091 |
4.862 |
48,953 |
42,041 |
Undugu VIP, Kenya |
9,541 |
* |
9,541 |
11,438 |
ZACA, Zanzibar |
12,491 |
- |
12,491 |
21,287 |
ZACA VIP. Zanzibar |
1,543 |
3,230 |
4,773 |
8,633 |
|
504,460 |
60,393 |
564,853 |
548,982 |
Grants to individuals |
|
|
|
|
Scholarships |
900 |
- |
900 |
496 |
|
|
|
|
|
Monitoring and evaluation |
|
|
|
|
Wages and Nl |
190,380 |
- |
190,380 |
173,738 |
Travel costs |
28,336 |
- |
28,336 |
27,153 |
Other direct costs |
72,049 |
- |
72,049 |
72,240 |
Governance costs {note 5) |
25,682 |
- |
25,682 |
19,156 |
Support costs (note 5) |
41,659 |
- |
41,659 |
34,135 |
|
|
|
|
|
|
|
|
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|
WE SEE |
|
HOPE |
|
2024 |
2023 |
This is stated after charging: |
£ |
£ |
|
|
|
Auditors' remuneration: |
|
|
Audit fee |
|
|
Accountancy, taxation and other services |
|
|
Depreciation on owned assets |
|
|
|
2024 £ |
2023 £ |
|
|
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs |
|
|
|
|
|
|
2024 |
2023 |
|
No. |
No. |
Full time equivalent |
|
|
|
2024 |
2023 |
|
No. |
No. |
|
|
|
£80,001 -£90,000 |
|
|
|
WE SEE |
|
HOPE |
|
Computer |
Office |
|
|
Equipment |
Equipment |
Total |
|
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
At 1st July 2023 |
|
|
|
Additions |
|
|
|
Disposals |
( |
( |
( |
At 30th June 2024 |
|
|
|
|
|
|
|
Depreciation |
|
|
|
At 1st July 2023 |
|
|
|
Charge for the year |
|
|
|
On disposal |
( |
( |
( |
At 30th June 2024 |
|
|
|
|
|
|
|
Net Book Value |
|
|
|
At 30th June 2024 |
|
|
|
At 30th June 2023 |
|
|
|
|
2024 £ |
2023 £ |
Valuation |
|
|
Opening balance |
|
|
Additions at cost |
|
|
Book cost adjustments |
|
|
Disposal proceeds |
( |
( |
Net realised investment gains |
|
|
Net unrealised investment losses |
( |
( |
Net cash movement in investments |
( |
( |
Market value at 30th June |
|
|
|
|
|
The investments are made up as follows: |
|
|
|
|
|
UK equities |
|
|
Overseas equities |
|
|
UK fixed interest and gilts |
|
|
Others |
|
|
Total |
|
|
|
2024 £ |
2023 £ |
|
|
|
Other debtors |
|
|
Prepayments |
|
|
Accrued income |
|
|
|
|
|
|
WE SEE |
|
HOPE |
|
2024 £ |
2023 £ |
|
|
|
Other taxation and social security |
|
|
Other creditors |
|
|
Accruals |
|
|
|
|
|
|
At 1st July 2023 £ |
Income £ |
Expenditure £ |
Other losses £ |
At 30th June 2024 £ |
|
|
|
|
|
|
Unrestricted |
|
|
( |
( |
|
|
|
|
|
|
|
Charitable activities |
|
|
|
|
|
ACET, Uganda |
- |
7,750 |
(7,750) |
- |
- |
ACET VIP, Uganda |
- |
7,500 |
(5,617) |
|
1,883 |
ANPPCAN, Kenya |
- |
12,016 |
(1,516) |
- |
10,500 |
CDN Nakuru, Kenya |
- |
5,000 |
(5,000) |
- |
- |
Cheka Sana VIP, Tanzania |
3,606 |
- |
(3,157) |
- |
449 |
Fanisi, Tanzania |
- |
15,000 |
- |
- |
15,000 |
MPC Blantyre, Malawi |
3,965 |
6,238 |
(7,757) |
- |
2.446 |
Oasis Mbale, Uganda |
17 |
- |
(17) |
- |
- |
Oasis Pader, Uganda |
- |
15,000 |
(15,000) |
- |
- |
Oasis Pader VIP, Uganda |
939 |
5,548 |
(6,487) |
- |
- |
Undugu, Kenya |
862 |
4,000 |
(4,862) |
- |
- |
ZACA VIP, Zanzibar |
3,230 |
- |
(3,230) |
- |
- |
Restricted |
|
|
( |
|
|
|
|
|
|
|
|
Total Funds |
|
|
( |
( |
|
|
At 1 st July 2022 £ |
Income £ |
Expenditure £ |
Other losses £ |
At 30th June 2023 £ |
|
|
|
|
|
|
Unrestricted |
|
|
( |
( |
|
|
|
|
|
|
|
Charitable activities |
|
|
|
|
|
ANPPCAN, Kenya |
- |
516 |
(516) |
- |
- |
CDN Nakuru, Kenya |
1,130 |
2,333 |
(3,463) |
- |
- |
Cheka Sana VIP, Tanzania |
- |
12,000 |
(8,394) |
- |
3,606 |
MPC Blantyre, Malawi |
- |
4,205 |
(240) |
- |
3,965 |
Oasis Mbale, Uganda |
- |
2,056 |
(2,039) |
- |
17 |
Oasis Pader VIP, Uganda |
- |
7,182 |
(6,243) |
- |
939 |
RIDE, Uganda |
- |
12,500 |
(12,500) |
- |
- |
Simukai, Zimbabwe |
- |
2,400 |
(2,400) |
- |
- |
Undugu, Kenya |
- |
4,000 |
(3,138) |
- |
862 |
ZACA, Zanzibar |
2,956 |
- |
(2,956) |
- |
- |
ZACA VIP, Zanzibar |
- |
10,235 |
(7,005) |
- |
3,230 |
Restricted |
|
|
( |
|
|
|
|
|
|
|
|
Total Funds |
|
|
( |
( |
|
|
WE SEE |
|
HOPE |
|
Restricted funds £ |
General funds £ |
Total £ |
Fund balance at 30th June 2024 |
|
|
|
Represented by: |
|
|
|
Tangible fixed assets |
|
|
|
Investments |
|
|
|
Net current assets |
|
|
|
|
|
|
|
|
Restricted funds £ |
General funds £ |
Total £ |
Fund balance at 30th June 2023 |
|
|
|
Represented by: |
|
|
|
Tangible fixed assets |
|
|
|
Investments |
|
|
|
Net current assets |
|
|
|
|
|
|
|
|
2024 £ |
2023 £ |
|
|
|
Net (expenditure)/income |
( |
|
Depreciation of tangible assets |
|
|
Investment income |
( |
( |
Net losses on investment assets |
|
|
Realised loss on fixed asset disposal |
|
|
Working capital movements: |
|
|
- decrease/(increase) in debtors |
|
( |
- increase in creditors |
|
|
|
|
|
Cash flow used in operating activities |
( |
( |
|
WE SEE |
|
HOPE |
|
2024 £ |
2023 £ |
|
|
|
Total payments due: |
|
|
Within one year |
|
|
|
2024 |
2023 | ||
|
Amount £ |
Balance at year end £ |
Amount £ |
Balance at year end £ |
Hope Classic Rally Limited |
|
|
|
|
Donations |
|
|
|
|
|
2024 |
2023 |
|
£ |
£ |
|
|
|
Cash at bank and in hand |
|
|
|
At 01.07.23 £ |
Cash flow £ |
At 30.06.24 £ |
|
|
|
|
Net cash |
|
|
|
Cash at bank |
|
( |
|
Total |
|
( |
|