REGISTERED COMPANY NUMBER: 08339515 (England and Wales)

REGISTERED CHARITY NUMBER: 1155579

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FOUNDATIONS FOR HOPE

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Statement of Financial Position

5

Statement of Cash Flows

6

Notes to the Statement of Cash Flows

7

Notes to the Financial Statements

8

to

12

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 2024. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

A summary of the objects of the charity set out in its governing document are:

The prevention of and relief of poverty in particular in the Middle East and Africa by providing grants, items and services to individuals in need and /or charities, or other organisations working to prevent or relieve poverty.

Significant activities

The Charity has continued in working towards the elimination of the causes and consequences of poverty in the Middle East and Africa.

During 2024 the Charity has provided funding to purchase 3 dialysis units supplied for Elmalak Hospital in Egypt.

Public benefit

By raising money from grants, Foundations for Hope provides a public benefit by making grants to institutions it works with to achieve it's objectives in relieving poverty.

FINANCIAL REVIEW

Financial position

The financial position of the charitable company is set out on page 5 of the Financial Statements. The net current assets at the end of the period was £345,656 compared to £412,339 at 31 December 2023. The funds are held in a general unrestricted income fund available to be spent within the objects of the charity.

Reserves policy

Statement of the charity's policy on reserves:-

Any reserves will be used to make grants to charities or voluntary bodies for the prevention or relief of poverty.

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.

Recruitment and appointment of new trustees

The trustee selection method is by appointment.

Archbishop A Angaelos is entitled to appoint charity trustees.

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.They have reviewed those risks and established systems and procedures to manage those risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08339515 (England and Wales)

Registered Charity number

1155579

Registered office

Shephalbury Manor

Broadhall Way

Stevenage

Hertfordshire

SG2 8NP

Trustees

Archbishop A Angaelos

G N Barbary

D N Z Boutros

R A Daoud

Dr M L Elsanady

F F Fahmy

Dr C H B Gabriel

Dr M A Ishak-Hanna

M Khalil

Dr W Khalil

C F Malek

Dr O K Morris

Ms R Saleh

Company Secretary

Ms R Saleh

Independent Examiner

Prescott Gendy Aslam & Co

Hollington House

Flitton Hill

Maulden

Bedfordshire

MK45 2BE

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 15 September 2025 and signed on its behalf by:

Archbishop A Angaelos - Trustee

Independent examiner's report to the trustees of Foundations for Hope ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

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.

George Gendy FCCA

The Association of Chartered Certified Accountants

Prescott Gendy Aslam & Co

Hollington House

Flitton Hill

Maulden

Bedfordshire

MK45 2BE

Date: .............................................

31.12.24

31.12.23

Unrestricted

Total

fund

funds

Notes

£

£

EXPENDITURE ON

Raising funds

2

30,713

30,713

Charitable activities

3

Bless Egypt Disability programme

-

108,993

Dialysis Units in Egypt

33,085

-

Other

2,885

2,407

Total

66,683

142,113

NET INCOME/(EXPENDITURE)

(66,683

)

(142,113

)

RECONCILIATION OF FUNDS

Total funds brought forward

412,339

554,452

TOTAL FUNDS CARRIED FORWARD

345,656

412,339

31.12.24

31.12.23

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

10

499

623

CURRENT ASSETS

Cash at bank

352,663

417,974

CREDITORS

Amounts falling due within one year

11

(7,506

)

(6,258

)

NET CURRENT ASSETS

345,157

411,716

TOTAL ASSETS LESS CURRENT LIABILITIES

345,656

412,339

NET ASSETS

345,656

412,339

FUNDS

12

Unrestricted funds

345,656

412,339

TOTAL FUNDS

345,656

412,339

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 15 September 2025 and were signed on its behalf by:

A Angaelos - Trustee

D N Z Boutros - Trustee

Cash flows from operating activities

Cash generated from operations

1

(65,311

)

(142,478

)

Net cash used in operating activities

(65,311

)

(142,478

)

Cash flows from investing activities

Purchase of tangible fixed assets

-

(779

)

Net cash provided by/(used in) investing activities

-

(779

)

Change in cash and cash equivalents in the reporting period

(65,311

)

(143,257

)

Cash and cash equivalents at the beginning of the reporting period

417,974

561,231

Cash and cash equivalents at the end of the reporting period

352,663

417,974

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.12.24

31.12.23

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(66,683

)

(142,113

)

Adjustments for:

Depreciation charges

124

156

Increase/(decrease) in creditors

1,248

(521

)

Net cash used in operations

(65,311

)

(142,478

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

417,974

(65,311

)

352,663

417,974

(65,311

)

352,663

Total

417,974

(65,311

)

352,663

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.

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

-

20% on reducing balance

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.

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.	RAISING FUNDS

RAISING DONATIONS AND LEGACIES

31.12.24

31.12.23

£

£

Support costs

30,713

30,713

3.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

(see note

4)

£

Dialysis Units in Egypt

33,085

4.	GRANTS PAYABLE

31.12.24

31.12.23

£

£

Bless Egypt Disability programme

-

108,993

Dialysis Units in Egypt

33,085

-

33,085

108,993

The total grants paid to institutions during the year was as follows:

31.12.24

31.12.23

£

£

Hi Tech for Projects

33,085

-

Bless Egypt

-

108,993

33,085

108,993

5.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

£

£

£

Raising donations and legacies

30,713

-

-

30,713

Other resources expended

-

68

2,693

2,761

30,713

68

2,693

33,474

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Audit-related assurance services

2,400

1,800

Other non-audit services

293

391

Depreciation - owned assets

124

156

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

8.	STAFF COSTS

31.12.24

31.12.23

£

£

Wages and salaries

30,000

30,000

Other pension costs

713

713

30,713

30,713

The average monthly number of employees during the year was as follows:

31.12.24

31.12.23

Management

1

1

No employees received emoluments in excess of £60,000.

9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

EXPENDITURE ON

Raising funds

30,713

Charitable activities

Bless Egypt Disability programme

108,993

Other

2,407

Total

142,113

NET INCOME/(EXPENDITURE)

(142,113

)

RECONCILIATION OF FUNDS

Total funds brought forward

554,452

TOTAL FUNDS CARRIED FORWARD

412,339

10.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024 and 31 December 2024

779

DEPRECIATION

At 1 January 2024

156

Charge for year

124

At 31 December 2024

280

NET BOOK VALUE

At 31 December 2024

499

At 31 December 2023

623

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

-

(1

)

Social security and other taxes

425

483

Net Wages Control

4,542

3,837

Nest pension Control

139

139

Accrued expenses

2,400

1,800

7,506

6,258

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

412,339

(66,683

)

345,656

TOTAL FUNDS

412,339

(66,683

)

345,656

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

-

(66,683

)

(66,683

)

TOTAL FUNDS

-

(66,683

)

(66,683

)

Comparatives for movement in funds

Net

movement

At

At 1.1.23

in funds

31.12.23

£

£

£

Unrestricted funds

General fund

554,452

(142,113

)

412,339

TOTAL FUNDS

554,452

(142,113

)

412,339

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

-

(142,113

)

(142,113

)

TOTAL FUNDS

-

(142,113

)

(142,113

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.23

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

554,452

(208,796

)

345,656

TOTAL FUNDS

554,452

(208,796

)

345,656

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

-

(208,796

)

(208,796

)

TOTAL FUNDS

-

(208,796

)

(208,796

)

13.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.