Gift Of Hope Trust Ltd. - Charities report

REGISTERED COMPANY NUMBER: 03885635 (England and Wales)

REGISTERED CHARITY NUMBER: 1081796

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Gift Of Hope Trust Ltd.

Page

Report of the Trustees

1

to

2

Statement of Financial Activities

3

Balance Sheet

4

Cash Flow Statement

5

Notes to the Cash Flow Statement

6

Notes to the Financial Statements

7

to

11

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 30 November 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

The charity is constituted as a company limited by guarantee on 29th November 1999 and is therefore governed by the memorandum and articles of association. The charity's object and its principal activity is to be that of relief of poverty, sickness and distress amongst children and adults in India and elsewhere in particular by providing and assisting in the provision of clothing, books, food, medical supplies and sweet water wells. The charity is organised so that trustees meet regularly to manage affairs.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The charity provides free meals, medicines and educational needs to the needy.

FINANCIAL REVIEW

The statement of financial activities shows a surplus of £635,950 (2023 : £80,586.)

FUTURE PLANS

Continued efforts will be made to provide medical services for poor and visitation to rural villages, employment of doctor and drilling holes for water supply in rural villages.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03885635 (England and Wales)

Registered Charity number

1081796

Registered office

1 Bell Street

2nd Floor

London

NW1 5BY

Trustees

N Shah (resigned 30.10.24)

M G Dhanak

B Shah

Company Secretary

B Shah

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of Gift Of Hope Trust Ltd. 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.

Approved by order of the board of trustees on 25 September 2025 and signed on its behalf by:

B Shah - Trustee

2024

2023

Unrestricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

619,817

44,076

EXPENDITURE ON

Raising funds

3

2,881

3,029

Charitable activities

4

Donations to charity

61,572

20,000

Total

64,453

23,029

NET INCOME

555,364

21,047

RECONCILIATION OF FUNDS

Total funds brought forward

80,586

59,539

TOTAL FUNDS CARRIED FORWARD

635,950

80,586

2024

2023

Unrestricted

Total

funds

Notes

£

CURRENT ASSETS

Cash at bank

637,108

81,361

CREDITORS

Amounts falling due within one year

9

(1,158

)

(775

)

NET CURRENT ASSETS

635,950

80,586

TOTAL ASSETS LESS CURRENT LIABILITIES

635,950

80,586

NET ASSETS

635,950

80,586

FUNDS

10

Unrestricted funds

635,950

80,586

TOTAL FUNDS

635,950

80,586

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 and delivered in accordance with the special provisions appplicable to small charitable companies subject to small companies regime

The financial statements were approved by the Board of Trustees and authorised for issue on 25 September 2025 and were signed on its behalf by:

B Shah - Trustee

Cash flows from operating activities

Cash generated from operations

1

555,747

21,479

Net cash provided by operating activities

555,747

21,479

Change in cash and cash equivalents in the

reporting period

555,747

21,479

Cash and cash equivalents at the beginning

of the reporting period

81,361

59,882

Cash and cash equivalents at the end of the

reporting period

637,108

81,361

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

2024

2023

£

Net income for the reporting period (as per the Statement of Financial

Activities)

555,364

21,047

Adjustments for:

Increase in creditors

383

432

Net cash provided by operations

555,747

21,479

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.23

Cash flow

At 30.11.24

£

Net cash

Cash at bank

81,361

555,747

637,108

81,361

555,747

637,108

Total

81,361

555,747

637,108

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.

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.

2.	DONATIONS AND LEGACIES

2024

2023

£

Donations

617,662

40,392

Gift aid

2,155

3,684

619,817

44,076

3.	RAISING FUNDS

Raising donations and legacies

2024

2023

£

Support costs

2,881

849

Other trading activities

2024

2023

£

Support costs

-

2,180

Aggregate amounts

2,881

3,029

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

(see note

5)

£

Donations to charity

61,572

5.	GRANTS PAYABLE

2024

2023

£

Donations to charity

61,572

20,000

6.	SUPPORT COSTS

Governance

Other

costs

Totals

£

Raising donations and legacies

1,011

1,870

2,881

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2024 nor for the year ended 30 November 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2024 nor for the year ended 30 November 2023.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

44,076

EXPENDITURE ON

Raising funds

3,029

Charitable activities

Donations to charity

20,000

Total

23,029

NET INCOME

21,047

RECONCILIATION OF FUNDS

Total funds brought forward

59,539

TOTAL FUNDS CARRIED FORWARD

80,586

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other creditors

1,158

775

10.	MOVEMENT IN FUNDS

Net

At

movement

At

1.12.23

in funds

30.11.24

£

Unrestricted funds

General fund

80,586

555,364

635,950

TOTAL FUNDS

80,586

555,364

635,950

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

619,817

(64,453

)

555,364

TOTAL FUNDS

619,817

(64,453

)

555,364

Comparatives for movement in funds

Net

At

movement

At

1.12.22

in funds

30.11.23

£

Unrestricted funds

General fund

59,539

21,047

80,586

TOTAL FUNDS

59,539

21,047

80,586

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

44,076

(23,029

)

21,047

TOTAL FUNDS

44,076

(23,029

)

21,047

11.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 November 2024.

12.	SHARE CAPITAL

The company is limited by guarantee limited to £1 per member.