Charity registration number 1166877 (England and Wales)
Company registration number 09904428
FRESH HOPE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FRESH HOPE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs D Heusch
Mr D P Lynch
Ms S Mclean
Mr A F Solomon
Mr J Taylor
Mr M D Barber
(Appointed 2 August 2024)
Mrs C Workman
(Appointed 23 May 2024)
Mr S Harris
(Appointed 1 March 2024)
Charity number (England and Wales)
1166877
Company number
09904428
Registered office
Trouville
Battledown Approach
Cheltenham
Gloucestershire
United Kingdom
GL52 6RA
Independent examiner
BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
England
GL51 9TX
Bankers
Barclays Plc
128 High Street
Cheltenham
GL50 1EG
Solicitors
BPE Solicitors LLP
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR
FRESH HOPE
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6
Statement of financial position
7
Notes to the financial statements
8 - 14
FRESH HOPE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

Our charity’s purposes as set out in the objects contained in the company’s articles of association are to:

 

To improve and transform the lives of individual people and communities, in such communities as the trustees may from time to time think fit, with special emphasis on, but not exclusively, young people, vulnerable adults and disadvantaged families, by sponsoring, supporting and/or implementing community projects. To work with, encourage and provide opportunities for people in communities who have what they need, to work with those who do not, and so make the community a caring and healthy place to live for all.

 

We will do this by sponsoring, promoting and supporting a variety of projects delivering benefits to the community.

 

How our activities deliver public benefit

 

Currently, Fresh Hope has the following projects delivering benefit to the public:

 

1. The School House Café (SHC): Our aim in 2024 was to improve the financial performance and community impact of the School House Cafe, largely through continuing to increase involvement in frequent events. In the end over 40 events were held in 2024 in the SHC, addressing needs from people right across the community. Example events include:

1.    Children's events including crafts with Santa

2.    Heart monitoring for young adults, looking to identify     undiagnosed     heart disease

3.    A weekly community lunch for those less well off or socially isolated in     our community

4.    A weekly drop in for the elderly, hosted by district nurses

5.    We continue to run a toddler group on a Monday.

 

The Cafe saw a £50,000 redevelopment of it's kitchen in 2024 with money from the Government's Leveling Up fund. This will make a long term difference to the SHC and the community for many years to come.

 

2. The Cycle Project. The project continues to provide cycle repair, servicing and the sale of refurbished bikes. This project continues to grow rapidly in 2024 with activity up around 250% over 2023. Combining the financial     performance of the SHC and the Cycle Project reduced overall losses by around 90% in 2024 over 2023.

 

3. The Family Pantry has moved from strength to strength perhaps doubling the families it supports both on an overall and on a weekly basis. For a £4 weekly membership fee, families are provided with 8 shelf items, two fridge or freezer items and free fresh fruit and vegetables. We continue to offer recipe bags. We see continuing collaboration in this project including working with the Rock who provide space, working with Cheltenham is     Growing, who provide very locally grown fruit and vegetables and a link     with Dean Close school, who provide food at Harvest and Christmas, sending pupils over to experience what the Family Pantry has to offer.

 

4. The Armoury (A community gym). 2024 saw the Armoury growing by about 32% over 2023. The number of people impacted has greatly increased, but     the growth is not yet sufficient to create financial stability. Nevertheless the community that we have created, of people from 18 to retirement age,     which nurtures it's members and actively supports Physical, Mental, Emotional and Spiritual health, is something that the staff and trustees are rightly proud of. The community also takes responsibility for itself, participating in socials, fund raisers and in maintenance activities. It is clear that the Armoury is “owned” by it's members.

 

FRESH HOPE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

Delivering these public benefits would not be possible without:

 

We are thankful for the ongoing financial support of the Life development Fund of Gloucester Diocese.

We have been delighted and humbled by the number of individuals who continue to support our work financially. It would be inappropriate to mention names here but our heartfelt thanks to each and every one of you.

 

Our Values

 

At Fresh Hope we aspire to live out our values;

 

Community; we are passionate about building inclusive and authentic communities, generating joy and a sense of belonging.

 

Compassion; we are kind, warm and generous to everyone we encounter.

 

Integrity; we act in an honest and open way, treating each other with dignity and respect.

 

Teamwork; we achieve more when we collaborate and all work together.

Financial review
Reserves policy

Cash flow is good, but overall net reserves remain below 3 months operational costs.

Plans for future periods

We remain open to exploring opportunities to reproduce both the School House Cafe and The Armoury in other locations. We are also open to bring new or existing projects under the Fresh Hope umbrella.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 7 December 2015 and registered as a charity on 3 May 2016. The company was established under a Memorandum of Association and is governed under its Articles of Association which established the objects and powers of the charitable company. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

Recruitment and appointment of trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members.

 

Under the requirements of the Articles of Association, which established the objects and powers of the charitable company, one third of the directors must retire each year (longer serving since election first) but can be re-elected at the next Annual General Meeting. At the Annual General Meeting held on 11h July 2024, Sue McLean resigned as a director and was re-elected.

All member of the company give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

FRESH HOPE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

Trustee Induction and Training

 

The trustees continue to work together to develop both the governing documents of the charity and also the purpose and vision of the charity. All are provided with links to material provided by both the Charity Commission and Companies House on the roles and responsibilities of a Trustee and Director. Most of the Trustees are already familiar with these due to other positions that they hold.

 

Risk Management

 

The Directors consider risks as part of their monthly board meeting. Most risks are reviewed every month including operational, financial and safeguarding. The overall risk log is reviewed on an annual basis.

 

Related Parties

 

Fresh Hope works collaboratively with a number of organisations not least St Paul's Church, Cheltenham, where the Café is based and Holy Trinity, Cheltenham where the Armoury is based. However, based upon the definition of a related party in IAS24, Fresh Hope has no related parties.

Statement of trustees' responsibilities

The trustees (who are also the directors of Fresh Hope 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

 

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.

 

Members of the Management Committee

 

Members of the Management Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 3.

 

In accordance with company law, as the company’s directors, we certify that:

 

FRESH HOPE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

The trustees' report was approved by the Board of Trustees.

Mr D P Lynch
Trustee
6 August 2025
FRESH HOPE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF FRESH HOPE
- 5 -

I report to the trustees on my examination of the financial statements of Fresh Hope (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Cinzia Hensley FCA
Institute of Chartered Accountants in England and Wales
BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX
England
6 August 2025
FRESH HOPE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
36,161
-
36,161
47,123
-
47,123
Charitable activities
3
-
72,660
72,660
-
84,780
84,780
Other trading activities
4
129,447
-
129,447
114,678
-
114,678
Total income
165,608
72,660
238,268
161,801
84,780
246,581
Expenditure on:
Charitable activities
5
184,924
96,779
281,703
178,415
1,700
180,115
Total expenditure
184,924
96,779
281,703
178,415
1,700
180,115
Net income/(expenditure) and movement in funds
(19,316)
(24,119)
(43,435)
(16,614)
83,080
66,466
Reconciliation of funds:
Fund balances at 1 January 2024
1,925
85,180
87,105
18,539
2,100
20,639
Fund balances at 31 December 2024
(17,391)
61,061
43,670
1,925
85,180
87,105

 

FRESH HOPE
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,768
3,514
Current assets
Stocks
11
1,738
1,724
Debtors
12
1,472
2,431
Cash at bank and in hand
45,762
86,534
48,972
90,689
Creditors: amounts falling due within one year
13
(7,070)
(7,098)
Net current assets
41,902
83,591
Total assets less current liabilities
43,670
87,105
The funds of the charity
Restricted income funds
14
61,061
85,180
Unrestricted funds
15
(17,391)
1,925
43,670
87,105

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

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

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

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

The financial statements were approved by the trustees on 6 August 2025
Mr D P Lynch
Trustee
Company registration number 09904428 (England and Wales)
FRESH HOPE
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
1
Accounting policies
Charity information

Fresh Hope is a private company limited by guarantee incorporated in England and Wales. The registered office is Trouville, Battledown Approach, Cheltenham, Gloucestershire, GL52 6RA, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Charitable funds

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.

1.3
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.

1.4
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.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Items costing less than £1,000 are not capitalised.

FRESH HOPE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 9 -
1.6
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations
34,109
45,252
Gift aid
2,052
1,871
36,161
47,123
3
Income from charitable activities
Restricted
Restricted
funds
funds
2024
2023
£
£
Grants
72,660
84,780
Grants analysis
Total
Total
2024
2023
£
£
Gloucestershire Diocesan Board
20,500
33,500
Severn Trent
19,720
-
Barnwood Trust
15,000
-
Hubbub Community Fridge
10,000
-
Cheltenham Borough Council
3,500
1,280
Gloucestershire County Ccouncil
2,500
50,000
JCR Jockey Club
1,000
-
Rotary Trust
440
-
72,660
84,780
FRESH HOPE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
958
56
Cafe and gym income
128,489
114,622
Other trading activities
129,447
114,678
5
Expenditure on charitable activities
Total
Total
2024
2023
£
£
Direct costs
Staff costs
144,721
109,317
Depreciation
1,746
1,746
Sundries
5,251
2,143
Catering supplies
57,899
52,337
Uniform and clothing
871
1,623
Rent and rates
4,800
4,400
Marketing, prnting and stationery
981
324
Charitable donations
8,309
4,747
Insurance
1,722
1,358
Bank charges
-
55
Repairs and renewals
4,566
1,313
Kitchen refurbishment
50,000
-
280,866
179,363
Share of support and governance costs (see note 6)
Governance
837
752
281,703
180,115
Analysis by fund
Unrestricted funds
184,924
178,415
Restricted funds
96,779
1,700
281,703
180,115
FRESH HOPE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
6
Support costs allocated to activities
2024
2023
£
£
Governance costs
837
752
Analysed between:
Independent examiner fee
837
752
7
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

 

Trustees' expenses

 

During the year trustees' expenses reimbursed totalled £1,604 (2022: £nil).

8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
17
19
Employment costs
2024
2023
£
£
Wages and salaries
144,721
109,317
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

As a recognised charity, the company is exempt from Corporation Tax so far as it relates to its charitable objects. It is not, however, exempt from VAT, and irrecoverable VAT is included in the cost of those items to which it relates.

FRESH HOPE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
10
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2024
13,264
10,030
23,294
At 31 December 2024
13,264
10,030
23,294
Depreciation and impairment
At 1 January 2024
9,750
10,030
19,780
Depreciation charged in the year
1,746
-
1,746
At 31 December 2024
11,496
10,030
21,526
Carrying amount
At 31 December 2024
1,768
-
1,768
At 31 December 2023
3,514
-
3,514

 

11
Stocks
2024
2023
£
£
Stocks
1,738
1,724
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
161
412
Other debtors
1,021
1,747
Prepayments
290
272
1,472
2,431
13
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
2,554
2,322
Trade creditors
461
337
Other creditors
3,191
3,623
Accruals
864
816
7,070
7,098
FRESH HOPE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
14
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
Enhancement Fund
1,680
-
(420)
1,260
Special Project Diocese SHC Support
33,500
16,500
(41,323)
8,677
Kitchen Project 2023
50,000
-
(50,000)
-
Barnwood Trust
-
15,000
-
15,000
Hubbub Community Fridge
-
9,000
(400)
8,600
Severn Trent
-
22,160
(3,340)
18,820
Family Pantry
-
10,000
(1,296)
8,704
85,180
72,660
(96,779)
61,061
Previous year:
At 1 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
Enhancement Fund
2,100
-
(420)
1,680
Special Project Diocese SHC Support
-
33,500
-
33,500
Kitchen Project 2023
-
50,000
-
50,000
Jigsaw summer activities
-
1,280
(1,280)
-
2,100
84,780
(1,700)
85,180

Transfers between funds

Transfers are made between restricted and unrestricted funds at the end of every accounting period in cases where:-

 

i) the activity of the restricted fund has come to an end and there is an unspent balance that is not repayable to the funder(s), when the surplus is transferred to unrestricted funds; or

 

ii) the restricted fund is in deficit and has either come to an end or there is no prospect of a surplus in a later period, when the deficit is eliminated by transfer from unrestricted funds; or

 

iii) income that is received in the restricted fund covers in part some of the costs in the unrestricted funds.

 

Details of unrestricted funds:

 

Kitchen Project 2023

Cheltenham Borough Council awarded us £50k to renovate the School House Cafe kitchen.

 

Special Project - Diocese SHC Support Fund

The Diocese of Gloucester awarded us £50k (£33.5k received so far). This was to allow us to employ two people for two years, whose job it is to grow the use of the Cafe and to help manage the Cafe in order for it to become financially sustainable

FRESH HOPE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
15
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
1,925
165,608
(184,924)
(17,391)
Previous year:
At 1 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
General funds
18,539
161,801
(178,415)
1,925
16
Related party transactions

In a previous period, Mr D Lynch, a director loaned the charity £3,191. The amount due to the related party at the year end was £3,191 (2023: £3,191), this transaction took place on an arms-length basis and is repayable on demand.

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